Overpricing Pyramid

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 will lose their enthusiasm.
5. Overpricing discourages potential buyers from viewing the property. "How long has the property been on the market?"" is a standard question.
6. Buyers are reluctant to make an offer.
7. Competing properties will come more attractive and yours can be used as a springboard.
8. Continuous price reductions will confuse both agents & purchasers.
9. It is proven over and over again. that an overpriced property will sell below market value.