The Risks of Overpriced Homes.

Pricing a home right is so important when selling a home.

The way to be sure your home is priced right is to hire a local real estate professional to market and price your home. Local Realtors know what the realistic prices for homes should be. Their experience and knowledge allows you to be sure your list price will bring buyers. Overpricing your home prevents potential homebuyers from scheduling showings.

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So, what keeps potential buyers from making offers on overpriced homes?

Risk of Embarrassing the Homeowner. If your home is priced too high, potential buyers fear making an offer that is much lower than asking price will insult or embarrass you, the homeowner.

Assumption of Asking Price. Often, buyers make the assumption that you, the homeowner, know you have priced the home too high and won’t sell for less. So, they don’t even consider your home.

Other Offers Declined. Potential buyers may also have the misconception that you, the owner, have already turned down low offers. This is usually not the case, as overpriced homes simply don’t get offers.

Days on the Market Duration. Overpriced homes have a much longer length of days on the market than their competitors who accurately price their homes according to market value.

So if you’re in the market to sell your home, contact us and let us review your home, find comps in the area like it and be sure your home is priced right…to prevent losing the interest of potential buyers.

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