The Disastrous Downfalls Of Overpricing Your Home
Posted by Shane White on
Regardless of whether the real estate market favors sellers or buyers, sellers are always looking for an upper hand, leading many to list their homes for a higher price. While higher list prices potentially mean more money at closing, it can lead to many downfalls if the home doesn’t sell.
Let’s dive into 4 disastrous downfalls if you overprice your home.
Price Reductions
Due to low inventory and buyer demand, when a new listing hits the market, showings roll in immediately, as long as it's priced right. So, if you’re not getting a lot of showings, you can assume your home is overpriced, meaning you’ll want to reduce the list price. Price reductions leave buyers wondering what is wrong with the home that the price dropped, and if you keep…
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