Hazards of Overpricing

There are many hazards in overpricing your home. A few are listed below:

  • Many buyers will not even consider a price range beyond their means
  • Time on the market is increased
  • Extended time on the market entices lower offers because the seller “must be desperate”
  • Listing extended time on the market causes agents and buyers to become suspicious that something is wrong with the property
  • Property is hard to keep in top condition when the listing goes on and on
  • Sellers become frustrated
  • REALTOR® loses enthusiasm
  • Sellers who must move risk splitting up the family or maintaining two houses
  • Total number of showings will be limited
  • Other properties will sell faster in comparison depleting the existing buyer supply