Dangers of Overpricing

1. Minimizes offers: An over priced house discourages prospective buyers from making offers since the difference between the asking price and the market price is substantial.
2. Declining Salesperson Enthusiasm and Response: Sales people lose interest in property that is overpriced. They do not spend as much time showing the house as they would if it was priced right.
3. Less Qualified Buyer Exposure: Overpriced houses fail to attract qualified buyers, or attract “wrong” buyers.
4. Decline in Showings: Salespeople avoid showing overpriced houses in order not to lose credibility with Buyers.