The Danger of Overpricing

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When setting a price, why not ask for the moon?

 
Make no mistake, we want you to get the best possible price for your property. However, when a home is priced too high for the market:

  • It attracts lookers, not legitimate buyers.
  • It implies that you aren’t motivated to sell.
  • It reduces the number of showings.
  • It helps the competition.
  • If it doesn’t appraise at the higher price, a buyer may not be able to secure a loan.
  • You may ultimately have to drop your price below market value in order to sell.