Use this post to share with buyers and sellers the most common reasons sellers overprice their homes and why the overpricing ends up being a problem. Ideally, this will help prospective sellers recognize the folly of unreasonably pricing their home.
- Common problems with overpricing a home
- Why overpricing hurts sellers in the end
- Typical reasons sellers overprice a home
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Sellers have a host of reasons why they remain attached to prices which are too high for the market. Here are a few of the most common and why they ultimately work against sellers.
From the post:
“All sellers want their home to sell for the highest possible price. This is one reason it’s why it’s so easy for agents to “buy” listings. If you’re not familiar with the concept, “buying” a listing is when an agent (unscrupulously) tells a client their home is worth far more than the market value in order to win the listing.
Sellers are susceptible to this tactic because they want to believe, however irrationally, that their home is for some reason or another worth more than comparable homes on the market. Sometimes, though, sellers believe high home pricing is either an acceptable risk or even a benefit. Here’s what they say, and why it’s a problem…”
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