The Effects of Pricing

The Effects of Pricing

The Results of Over-Pricing

Many sellers believe that if they start with a high list price, they can always lower it later.However, when a property is priced too high, most often, it will experience little activity. As the price is lowered to meet market value, the property has already been on the market too long, and buyers are cautious. A property which has overstayed its welcome on the market will detract potential purchasers from even viewing your property. On occasion, the price will eventually drop below market value and the property will sell at a price below its true worth.

 

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The Importance of Early Activity

New properties to the market will experience higher levels of activity than older properties on the market. This a crucial time when, Sales Representatives and potential buyers sit up and take notice. If a property is overpriced, interested parties will lose interest very quickly. By the time the price drops, interest is often completely lost.

 

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