PITFALLS OF OVERPRICING

1. Overpricing your property will extend the Marketing Period.
2. The positive impact of a new listing on the market will be lost.
3. Advertising response will be reduced and you will lose confidence in your agent.
4. Your property will become overexposed and agents may lose their enthusiasm.
5. Overpricing discourages potential buyers from viewing. “How long has this property been on the market?” is a standard question.
6. Buyers are reluctant to offer.
7. Competing properties will become more attractive and yours can be used as a springboard.
8. Subsequent continuous price reductions will confuse both agents and purchasers.
9. After a protracted period, an overpriced property will often sell below market value.