Today I have three pitfalls of listing your home too high on the market.
What happens when you price your home too high? Today we are going to talk about some of the many pitfalls of doing this in our current market.
1. You price your home out of the market. Since buyers are looking at a lot of different properties, you really need to be the best-priced home in order to sell. Buyers are going to purchase the home they feel has the best value, so if you price it too high, they won’t even really consider your home and it will sit on the market.
2. It is very likely that it won’t appraise even if you do find a buyer that wants to put in an offer.
3. If the market turns and you’re still selling your house, you could be in a bad situation. While I don’t think that this will happen, there is a rare chance that the market goes down. If this happens, you may have a hard time selling your home.
If you have any questions about this, or if you’re interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.