Why Not Overprice?

Overpricing gives an unrealistic first impression of the value of a home. Other real estate agents and potential buyers first look at your home in hopes of finding what they need. If they are disappointed, then they are unlikely to return, even if the price is dropped later.

Homes which stay listed for too long at a high price become shopworn, and difficult to sell. Salespeople lose interest after a number of unfavorable reactions when they present your home to prospective buyers.

1. Overpricing reduces the response from advertising.
2. Also, overpricing helps sell the competitors properties.
3. The property fails to compete with other offerings.
4. Qualified buyers would never "see" the property.
5. Buyers expect more home at high prices; failing to find it, they seldom become interested again, even at a reduced price.
6. When a property does not sell after proper exposure for a reasonable period of time, price is the problem.
7. When a property has been on the market for an unusually long period of time, buyers will often think the owners are desperate, and any offer will be less than reasonable.

Avoid the danger of having to take a loss when a listing becomes shopworn. Attracting buyers is the name of the game. Some owners think that if they can list at an inflated price, they have some room to "come down" if they have to. Seldom, it would mean more money in their pocket.

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Last modified: 01/02/07