Perils of Overpricing

divider

  • Buyers are aware of how long a property has been on the market.  If a property takes a long time to sell, buyers usually attribute that to overpricing.
  • Overpricing reduces the response to any merchandising done for the property, and will not produce results.
  • Buyers look at prices on many comparable properties.  If your property does not compare favorably, it won’t sell.
  • Proper pricing will produce an early sale.
  • Buyers avoid overpriced homes, and usually do not choose to look at them.
  • If overpricing delays a sale, the cost and inconvenience could be prohibitive.

(Examples: Delay in job transfer, payment on two mortgages, wear and tear on your present property, loss of opportunity elsewhere, etc.)

  • Top agents don’t show “old” listings.
  • Two questions buyer prospects usually ask before viewing a property are:

     “What’s the price?”    |    “How long has it been on the market?”

  • The Internet makes it possible for prospective buyers to evaluate homes prior to looking at them and those that are “overpriced.”
  • Properties that are reasonably priced create a sense of “urgency” in prospects’ minds.

_________

Homes sell at fair market value. Pricing a home realistically will bring an early sale, fewer inconveniences, and a greater monetary return.

 

The Skjersaa Group pledges at least 1% of revenue to the preservation and restoration of the natural environment