The Results of Overpricing

Many Sellers believe that if they price their home high, they can always lower it later. This is not a good strategy.

Usually, when a home has been priced too high, it experiences little activity. Gradually the price comes down to market value - but by that time, it's been for sale for too long and Buyers are wary. On occasion, the price is dropped below market value because the Seller runs out of time and the property sells for less than it's worth.

The Importance of Early Activity

As soon as a home comes on the market there is a flurry of activity surrounding it. This is the critical time when REALTORS® and potential Buyers sit up and take notice. Lets' strike while the iron is hot.

If the home is overpriced, it doesn't take long for potentially interested Buyers to lose interest. By the time the price drops, the majority of Buyers have moved on to buy another home.