Establishing a Pricing Strategy

The Dangers of Overpricing

 

An asking price that is beyond market range can adversely affect the marketing of a property.

  • Fewer buyers are attracted, and fewer offers received.
  • Marketing time is prolonged, and initial marketing momentum is lost.
  • The property attracts 'lookers' and helps competing houses look better by comparison.
  • If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan.
  • The property may eventually sell below market value.

ASKING PRICE IN RELATIONSHIP TO FAIR MARKET VALUE % OF PROSPECTIVE PURCHASERS WHO WILL LOOK AT PROPERTY

Questions? Just Ask!