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Overpricing your home can cost you more than a few dollars.
                  Overpricing your home can cost you more than a few dollars.Anytime a home is listed, the seller and the listing agent have a decision to make. What is the listing price? What does the market tell you about where it should list? There is an unfortunate tendency to look at the home you've lived in with rose-colored glasses. That's often where overpricing a home starts. The list price of a home has to be an unemotional decision. It is a market driven number, and no amount of memories will change that.
The perils of overpricing your home: Wishful Thinking vs Wise ThinkingOverpricing your home normally starts out with a conversation that goes something like this:
Agent: So, what is the price you have in mind for listing your home? Here are the comps that show where it should be listed. The market is saying it should be right at $385,000 for a reasonably quick sale.
Seller: Oh, that's not enough. After all, we've painted everything, we've had landscaping done and besides that, it's just worth more than most homes in this neighborhood. My kids grew up here.
Agent: How much more?
Seller: I was thinking around $400,000. ... more

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