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Never Overprice

By Nancy Timberlake

Real Estate Agent with RE/MAX Shoreline

September 24, 2011 01:07 AM

There are so many reasons not to do this. Here's one:

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

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Bill Blankenship

Lisa Von Domek & Associates, LLC / Real Living Real Estate Group - Midlothian, TX

Good points, Nancy.

Sep 24, 2011 01:11 AM

Kathy Sheehan

Bay Equity, LLC 770-634-4021 - Atlanta, GA

Senior Loan Officer

Absolutely, 100%, right on the money!

Sep 24, 2011 01:24 AM

Nancy Timberlake

RE/MAX Shoreline - Portland, ME

REALTOR - Southern Maine

Thanks for your comments.

Sep 24, 2011 01:34 AM

Barbara Heise

Keller Williams Realty STL - Saint Louis, MO

Search for Homes for Sale in St. Louis

Oh, I just went through such a mind set on this with one of my sellers. With all the news, the consumers get it inside their head that they are going to get such a low offer that they won't have negotiating power if the price is too low. Mind sets are hard to change. No matter how many times I told them we were hurting ourselves because of the lack of showings - it didn't work. I did get the home under contract but only because of spending hours on the phone with agents who showed it and had buyers with interest. Because the other side of the coin is that no matter what buyers are hearing, a lot of them have a mind set that will NOT make the offer too low because of insulting sellers. It's a difficult balance.

Sep 24, 2011 01:39 AM

Shelly Sierra

RE/MAX Trinity - Fort Worth, TX

PRICE sells your home! You are correct! Sometimes it is very hard to get the sellers to understand this. I will sometimes suggest we go tour the other homes in their neighborhood that is their competition so that they can see it from the buyers perspective.

Great post!

Sep 24, 2011 01:46 AM

Nancy Timberlake

RE/MAX Shoreline - Portland, ME

REALTOR - Southern Maine

Thanks for the touring idea. I have not tried that one.

Sep 24, 2011 01:57 AM

Wayne Johnson

Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX

San Antonio REALTOR, San Antonio Homes For Sale

Nancy,

Right you are. Pricing is the single largest reason affecting whether a house sells or not.