Fewer showings
Real estate agents won't have interest in showing your property to their buyers
since it will lessen their credibility with their buyer. Today real estate
agents are hired by buyers to represent their best interests.
Eliminates offers
"Buyers really are decent!" Buyers don't want to offend sellers with low offers
even if your house is the house they would like to own. Buyers have not only
looked at your house, but at all your competition as well. Since they know
the market, they know which houses are properly priced.
Negates the benefits
of advertising
Real estate offices advertise properties "for sale" to make the office phone
ring. When a local buyer calls the office to inquire about an overpriced property,
they usually won't spend time talking with an agent since they know the market
and the current pricing of properties.
Helping the competition
Buyers who can afford the listed price will view the overpriced property and
find it disappointing compared with correctly priced properties that will
be larger, newer, etc. By overpricing your property, you are encouraging buyers
to make offers on competitive properties.
Mortgage rejections
Lenders will have
your property appraised by a professional. Appraisers use the same information
that your agent uses ... homes currently listed for sale and homes that have
sold in the last six months. If your property does not appraise close to the
sale price, the mortgage application may be denied.
Unfortunately the price of a home is not based on what we would like to receive.
Additional Information for the Seller
Marketing Plan - Selling Process - First Impressions - Home Inspections
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