There are inherent dangers to the Seller in over-pricing:

 

  • Time on market is increased
  • Many buyers will not even consider a price range beyond their means
  • Listing becomes shop worn, and many agents and buyers become suspicious that something is wrong with the property
  • Extended time on the market entices lower offers because the seller must be desperate
  • Property is hard to keep in top condition when the listing goes on and on
  • Total number of showings will be limited
  • Sellers who must move risk splitting up the family or maintaining two houses
  • Other properties will sell faster in comparison depleting the existing buyer supply