Overpricing your home can cause you a lot of headaches as a home seller.
If you’re a home seller, pricing your home too high can cause major pitfalls for your sale.
One of the biggest challenges you’ll come across if you do this is your home will spend a longer time on the market. In a hot market, homes usually sell in a matter of weeks, so if a house has been listed for a period of 30 to 60 days or longer, buyers will start to wonder what’s wrong with it. At that point, they’ll come in with an extremely low offer to offset your days on market.
Realtors will also use your overpriced home to justify the value of other listings in the community. The last thing you want for your home is for it to be the one that causes other homes in your neighborhood to sell quickly and for top dollar. This is why properly pricing your property is critical as a home seller.
If you have any questions about how to price your home or any other real estate topic, don’t hesitate to give me a call or shoot me an email. I’d be happy to help you.