The dangers of overpricing a property

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It’s said you never get a second chance to make a first impression. That’s especially true when it comes to pricing your home for sale. One mistake you don’t want to make: overpricing it.

What are the dangers of overpricing a home? Pricing a home too high can stall your sale. The greatest amount of traffic occurs within the first couple of weeks that your home is listed for sale. Visitor traffic trails off dramatically after that. So even if you drop your price later, you have potentially lost buyers who have found other properties, or who are no longer considering your home, as they left with the impression that it was priced too high.

The best strategy is to work with your agent to price your home right to reach the greatest number of potential buyers with the right first impression.