- Many potential buyers won’t even look, thinking it’s out of their price range
- Those buyers who do look are shopping by comparison, and looking at an overpriced home may convince them to make a bid on a different property
- Since an appraisal is often required in financing a property, it’s futile to price a property for more than it’s worth
- Properties lift on the market for extended periods of time usually become “shopworn”, causing many to believe something’s amiss
- Overpricing tends to dampen the other salesperson’s attitude, making it less likely to be shown
- Overpricing lengthens marketing time, and invariably results in a lower selling price than would have been otherwise obtained
