1. Loses Qualified Buyers… The “right” buyers won’t even look because they think your property is out of their price range.

2. Helps Sell The Competition… Your higher price makes the competing homes look more attractive.

3. Eliminates Offers… Even though you might “look at offers”, buyers are aware of the current trading range, and will assume that you probably wouldn’t accept anything less than the normal spread.

4. Can Lead To Mortgage Rejection… Even if a bidder is found, a bank appraisal can cause the mortgage to be rejected, resulting in a lost sale.

5. Reduces Advertising Response.

6. Results In Fewer Showings… Other agents know fair market prices, and will not waste time on showing motivated buyers overpriced property.

7. Lengthen Marketing Time… Even though the price of the market aged property may eventually be lowered, it will be “shelf worn” and burdened with a bad reputation. Buyers wonder “what’s wrong with that place?”

8. Results In A Lower Selling Price… When the price of the stale dated property is eventually lowered, it will then attract bargain hunters, who, hoping for a desperation sale, will come in with even lower bids.