tr?id=1544995695800423&ev=PageView&noscript=1 Dangers of Overpricing - Lee Ann Group
  • Fewer buyers are attracted, and fewer offers are received.
  • Marketing is prolonged, and initial marketing momentum is lost.
  • The property attracts "lookers" and helps competing houses look better by comparison.
  • If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan.
  • The property may eventually sell below market value.

 

Summary: As your asking price decreases, the number of buyers who will view your property increases. If you are trying to sell your property in a tough real estate market (high inventory, low demand), consider pricing it at 10% to 15% below comparable properties. It is better to price your house competitively initially rather than gradually reducing the price later because a property receives more attention when it first lists on the market.

What our customers think...

We can speak first-hand to the outstanding customer service provided by Lee Ann Wilkinson and her team. From our first call to your office we were treated as if we were your only customer. You were knowledgeable, flexible, and patient in helping us discover exactly what we really wanted in a property. We would like to extend our thanks to the entire team at the Lee Ann Wilkinson Group. Congratulations to all for a job well done.
-Bill and Sally Devlin