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Here's What Happens When You Overprice Your Madeline Island Home
HERE'S WHAT HAPPENS WHEN YOU OVERPRICE YOUR MADELINE ISLAND HOME

It's hard enough to sell a correctly-priced home in today's real estate market.  Don't make things worse by hiring an agent who will tell you anything you want to hear, just to get another listing.
Here's what happens when you overprice your Madeline Island home:
1)      An overpriced second home becomes excluded immediately from consideration by a large percentage of eligible prospects.  Once they form the impression that you're trying to "hit a home run" at their expense, they cross your home right off their own list of potential dream homes.
2)      After the first blush of enthusiasm, sometimes a few phone inquiries or maybe even a showing or two, interest in your overpriced home subsides.  Your listing agent of choice, realizing their mistake, approaches you, the Seller, to suggest a price reduction.
3)      The listing agent discovers that the proposed price reduction is unpopular with the Seller (duh!) and a lengthy discussion ensues, sometimes lasting anywhere from several days to several weeks.  Precious time is lost and the sales season (yes, Madeline Island is a seasonal marketplace) drags on.
4)      Typically the dismayed seller reluctantly agrees to a price reduction.  But by this ... more

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