Dangers of Over Pricing
DANGERS OF OVER PRICING
Many potential buyers won’t even look, thinking it’s out of their range.
Those buyers who do look are shopping by comparison, and looking at your home may convince them to make a bid on a different property.
Since an appraisal is often required in financing a property, it’s futile not to price a property for more than it’s worth.
Often the first question buyers ask is, “how long has it been on the market?” Properties left on the market for extended periods of time usually become “shopworn” which causes many to believe something’s wrong with it.
Overpricing tends to dampen the other salesperson’s attitude, making it less likely to be shown.
Overpricing lengthens marketing time, and invariably results in a lower selling price than would have been otherwise obtained.