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The Dangers of Listing an Overpriced Home for Sale - Chicago Tips and Advice BlogIf you really want to sell your home effectively, “testing” the market with an inflated price for you home can be quite dangerous. First, it leads to diminished interest from buyers. An inappropriately priced home will sit on the market for long periods of time. In the real estate business, as in many other things in life, interest wanes over long periods of time. Secondly, overpricing a home attracts the wrong buyers. Remember, buyers in a particular price range are comparing and contrasting your property to other properties that they’ve viewed. Other homes with more amenities than yours will immediately put you at a disadvantage with these buyers. Finally, overpricing results in fewer offers. Believe it or not, buyers don’t want to have to give you a “low-ball” offer. A buyer wants to feel that they are in a comfortable negotiating position. Being thousands and thousands of dollars off the mark will deter buyers from even making an offer on your home. We offer free home valuation services. Contact us if you would like an accurate report done to determine the market value of your home. wwwSourceOneRealty.com 800-498-0967
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