6 Reasons Why Overpricing Your Home is Detrimental
Even in this seller’s market, there is a limit
Has your home been sitting on the market for a few weeks without any serious offers? Are you starting to get frustrated because you thought the process would move along a little faster? Unfortunately, it can happen, even in a very hot seller’s market.
The truth is, having your home on the market is incredibly inconvenient, especially if you are still living there. Having to keep it show-ready at all times (especially if you have kids) can be a full-time job in itself. So, it is understandable that you’d like to get it sold already. The good news? There are really only three reasons your home isn’t selling.
Sure, people can (and often do) make it much more complicated than that. But the truth is, it really does come down to three critical factors that will make your home stay on the market longer. The first (and often biggest) is the price. While you are free to list at any price you choose, if you really want to sell your home, overpricing can lead to some serious problems.
Study after study shows that price is the single largest determining factor for length of time on the market. An overpriced home is one of the largest hurdles to overcome and can make even the best-laid marketing plans completely…
