As a
seller,
focusing
on
maximizing
your
profit
rather
than
current
market
trends
could
cause
you to
miss the
right
buyer
for your
home.
Overpricing
your
home
DOES
have
consequences.
Consider
these
"famous
last
words"
of
pricing
pitfalls:
-
"Buyers
who
really
like
my
home
will
make
an
offer
regardless
of
the
listing
price."
-
"I
can
always
come
down
on
price
when
an
offer
comes
in."
-
"My
home
is
so
much
nicer
than
all
of
the
others.
A
higher
price
is
justified."
-
"I
don't
have
to
sell
right
away."
-
"I
want
to
test
the
market
first
to
see
what
I
can
get."
An
asking
price
that is
beyond
market
range
can
adversely
affect
the
marketing
of a
property.
Overpricing
when you
list
your
house
can come
with
clear
dangers:
-
The
best
time
to
capture
a
buyer
is
in
the
first
weeks
when
sales
professional
and
buyer
interest
is
the
highest.
Don't
squander
this
critical
marketing
period.
-
Fewer
buyers
are
attracted,
and
fewer
offers
received.
-
The
property
attracts
"lookers"
and
helps
competing
houses
look
better
by
comparison.
-
Sellers
who
start
high
and
stay
high
can
be
branded
as
unreasonable.
-
Sales
professional
enthusiasm
dims
on
overpriced
homes.
-
Advertising
and
other
marketing
efforts
are
neutralized.
Marketing
time
is
prolonged,
and
initial
marketing
momentum
is
lost.
-
Sales
professionals
and
buyers
tend
to
overlook
and
discount
aged
properties.
To
prevent
your
house
from
being
overlooked,
price
it
fairly
to
keep
sales
professional'
and
buyers'
attention.
-
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
-
Aged
properties
draw
lower
offers.
Early
offers
tend
to
be
higher,
so
price
carefully
initially
to
get
fair
offers.
Pricing
your
home to
its fair
market
value is
important.
To guard
against
overpricing,
ask your
sales
professional
to
prepare
a
comparative
market
analysis
(CMA) on
your
home.
