· Many potential buyers won’t even look at a property which is overpriced, thinking it’s out of their price range.
· Those buyers who look are shopping by comparison, and looking at your home may convince them to make a bid on a different property. In essence, your property will sell someone else’s property.
· Since an appraisal is often required in financing a property, it is futile to price a property more than it is worth.
· Properties left on the market for extended periods of time usually become “shopworn” causing many to believe something is amiss.
· 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.
