Dangers of Overpricing

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

• Those buyers who do look are shopping by comparison, and looking at your home may convince them to make a bid on a different property.

• Since an appraisal is often required in financing a property, it's futile to price a property for more than it's worth.

• Properties left on the market for extended periods of time usually become "shopworn", causing many to believe something's 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.

Dian Stanley, CRS, GRI

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