The Perils of Overpricing


• Many potential buyers won't even look, thinking the home is out of their range. 

• Buyers educate themselves with market comparables. If your home does not compare, they will make an offer on a more accurately priced home. 

• Properties left on the market for an extended time become shopworn. Buyers, aware of lengthy market exposure, attribute this to overpricing or believe there is something wrong with the property. 

• Realtors tend not to show overpriced listings as this undermines their credibility as knowledgeable real estate professionals. 

• Overpricing lengthens marketing time, and invariably results in a lower selling price than would have been otherwise obtained. 

• Since an appraisal is often required in financing a property, it is futile to price a property for more than the market value.