The Listing Property at the Right Price

• Overpriced properties fail to compete with others on the market. Buyers look at many properties and eliminate by comparison.

• Overpriced properties fail to meet buyer’s expectations. People expect certain things for a certain price and become disinterested when a property does not meet their criteria.

• Overpriced properties remain unsold for a long time causing buyers to be wary, even of making a lower offer. The result? Seller actually receiving less for the property in the end than if the property were correctly priced to sell in the beginning.

• Overpriced properties can turn a buyer from one area to another. Buyers qualified to buy in your location may disqualify themselves if confronted with even one or two overpriced properties.

• Overpriced properties can ultimately cause a monetary loss. Consider holding costs for six months to one year. The market may come up to your price in that time, but you’ve already invested more in monthly expenses, plus running the risk of becoming known as overpriced. If the market does not come up and declines, or holds steady, then the loss is compounded.

• Overpriced properties cause many real estate sales associates to lose their enthusiasm. A few unfavorable reactions from buyers and they may discontinue showing your home.