BLOG 2012 - The Overpriced Blues!

Real Estate Broker/Owner with American Dream Real Estate, LLC of LA



BLOG 2012


The Overpriced Blues!


Child Crying

Is the frustration of selling your home making you cry like a two year old? You could be suffering from a case of “The Overpriced Blues”. Tacking on a thousand dollars here and a thousand dollars there can add up to a listing that is priced for much more than it is worth. Take a look at these signs and symptoms of an overpriced listing and see if you can come up with a diagnosis.


No Showing Appointments

Buyers spend many hours online comparing one home to another. Price is one of the quickest ways to narrow a search. You could miss out on potential qualified buyers by not appearing in the appropriate search results. Further down the line is the decision to “keep as a favorite”. This is only a mouse click away. If your listing is overpriced you simply will not make the cut. Your listing will get skipped time and time again.


Getting Labeled

When your listing is overpriced it is quickly labeled in the minds of buyers and agents. Your listing will be one to watch for a price reduction. It is not likely that you will get showings or offers if your home seems out of reach. Overpriced listings send the wrong message.


Sell Your Neighbors Home

When your listing is overpriced it helps sell homes that are priced lower. Buyers perceive these homes to offer “more bang for the buck”. If you overprice your home you may end up watching other homes come on the market and sell more quickly.


The Big Question

If your home sits on the market for a long period of time the big question will be, “what’s wrong with that house?” Even after a detailed explanation of its listing history, buyers twist their lips, shake their heads, and decide to “skip that one”.


Stressful Negotiations

If and when a buyer is brave enough to consider an overpriced listing, the process can be very stressful for all involved. Sellers have become desperate to sell, but stubborn about the price; buyers are still holding on to the “big question” and “waiting for the other shoe to drop”; and agents explain every detail repeatedly to make sure their client(s) understand(s) the process.


The Big Cut

It is very rare that an Agreement to Purchase is not contingent upon an Appraisal. If this contingency is in place, be prepared for a price reduction in order to complete the sale. This “reality check” is usually painful for Sellers. Keep in mind that the most a Buyer can borrow is the Appraised Value of the Property. If you do not reduce the price to the Appraised Value you could be back at square one.


Do you want to know how much your home is worth?


I can help. Call Now! Or request an appointment in the Appointment Center on my website


Tracey R. Wrisper, Real Estate Expert, 337-718-8055

ERA, Sarver Real Estate, Inc. 337-239-2041

3090 Colony Blvd, Leesville, LA 71446


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Sara Homan
Coldwell Banker Ellison Realty 352-209-4044 - Ocala, FL
Realtor, Homes, Farms & 55+

Oh my Tracey, It would be so much easier if folks would just price it right from the get-go.  Good post.

Mar 26, 2012 03:18 PM #1
Linda Holloway
Keller Williams Realty Tampa Central - Tampa, FL
REALTOR®, Your Next Home in Tampa Bay Starts Here!

Hi Tracey, I love your title and the photo!  You make excellent points with your signs and symptoms of an overpriced home.

Mar 31, 2012 05:41 AM #2
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Tracey R. Wrisper

"RealtorTraceyW" - Homes for Sale in Leesville LA
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