What happens when you overprice your home? You will lose the excitement that a new listing generates. Agents are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, most activity will take place within the first thirty days of a listing. Your home will probably receive its best offers during this time. After this initial period, the only people who come to look at your home will be new buyers in the marketplace. You will lose the most qualified prospects. Potential buyers will not “make an offer” because they probably will never see your property. They will view the properties that are priced within their price range and what their lender has approved them for. Here’s What Else Happens The wrong prospects look at the property, if any look at all. People not only buy in their price ranges, they also only look in those ranges. Cooperating agents don’t want to lose credibility with their buyers by showing them overpriced listings Buyers are often embarrassed to make offers considerably below the list price. The property may become overexposed and shop worn. Cooperating REALTORS and potential buyers begin to assume there is something wrong with the property. Even subsequent price reductions do not regain the lost market. Many qualified buyers who inspect overpriced listings decide at that point to eliminate the property from consideration—now and in the future. When buyers see that a property has been on the market for a long period, they assume they can get a bargain. Extremely low offers are likely. Solution:
Price Your Home Competitively More Information | 
