What happens if I overprice my property?
- Many potential buyers won’t look at your property because they assume it is out of their price range.
- Comparison shoppers will be encouraged to bid on another property. In essence, you are helping to market someone else’s properly priced home.
- Properties left on the market for extended periods of time become shopworn.
- Buyers assume that something is wrong with the property or it would have been already sold.
- Other agents are less likely to show your property to their buyers.
- There may be appraisal problems with the buyer’s bank.
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