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The Pitfalls of Overpricing Your Home

By
Real Estate Agent with Century 21 AmeriSouth Realty

The first 30 days are the most crucial when pricing your home to sell.  It is during this time that you get the most traffic from potential BuyersBuyers are searching the Internet and other Realtors that have buyers are searching with a particular price in mind.  If your home is over priced...guess what?  Yes, you are right, those buyers will miss your home. Another pitfall is that your home will help sell other homes in your neighborhood.   This is a benefit for your competition, but not for you.   If you wait and lower the price in a few weeks, you have already miss that pool of buyers.   Price you home to sell.

Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life
I've found & heard horror stories of individuals falling prey to not pricing their homes right from the get-go.  Very true post Dianne.
Jun 13, 2007 09:33 AM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Jason:  Thanks for stopping by. Yes, when they fell to price right they end up losing in the long run
Jun 14, 2007 06:49 AM
Carl Winters
Canyon Lake, TX

Thanks for your blog but let me add. The price needs to be "right" but they also need to have the home ready for sale. How? a pre-inspection to make sure everything is up to par from the get-go.

Carl winters 

Jun 15, 2007 01:06 PM
Karen Hubert
Center Stage Design-real estate staging, Ancaster/Hamilton - Ancaster, ON
Home Stager
Makes perfect sense.
Jun 15, 2007 05:14 PM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Carl, you are sooooooooooo right.  All sellers need to have a pre-inspection so they can ward off any potential problems before hand.
Jun 16, 2007 08:13 AM
jamie allen
Allen's Pest Inspections - Evansville, IN

Dianne,

I have seen homes not sell because the seller is unrealistic about how much to sell the home for. Have a market analysis, do your reserce & pre-inspect. I think that this would help keep the seller from missing out on finding a buyer.

Jun 16, 2007 09:47 AM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Jamie, thanks I have done this.  Hopefully, they will adjust price.
Jun 17, 2007 10:47 AM
Tina Maraj
RE/MAX One - Fullerton, CA
Celebrating 30 Years of Real Estate Sales
This is a great blog. I am going to pass it on to on of my toughest sellers...my in laws!
Jul 01, 2007 08:36 AM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Thanks Tina!  Pass it on to all the sellers. 
Jul 02, 2007 06:37 AM
Chris Lengquist
Ad Astra Realty - Olathe, KS
Kansas City Real Estate Investing
Sounds like my speech at each listing appointment.  But you know how it goes...
Jul 06, 2007 04:13 AM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Hi Chris, yes it does.  Shame that some sellers just don't understand the value in pricing right at the beginning.
Jul 09, 2007 07:58 AM
Carl Winters
Canyon Lake, TX

Dianne: I have (my wife's niece) that has her home on the market, she wonders why she hasn't  sold. Ceil told her she was being unrealistic and to consider adjusting the price and Ceil  read your article to her. Don't know if she will change her mind; just will have to sit on it while others are selling.

Have a good day Dianne, Carl 

Hill Country Inspector 

Jul 10, 2007 01:41 AM
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate
Hello Carl, nice to see you here.  There are only two reasons why a property sits on the market.  PRICE and LOCATION.  I hope your niece will do her research.
Jul 10, 2007 01:57 AM