OBJECTION #2:
We want to start with a higher price. We can always come down on the price later.

A home for sale generates its maximum excitement during the first two or three weeks on the market. After this initial period of newness, much of the excitement is gone. If during the first two or three weeks of availability your home is overpriced, it will develop a reputation for being overpriced. This is a reputation that, even after you reduce the price, is hard to remove. If agents believe your home is overpriced, they will not show it. To them, the effort of bringing a buyer to an overpriced home is a waste of time. And, please keep in mind that there is a direct correlation between the number of buyers who view a home and the final sales price. Fewer buyers = a lower sales price!

I know you are thinking that you can reduce the price later to stimulate new activity. However, we find that, because the reputation for being overpriced is to hard to get rid of, you may have to lower the price to under fair market value to generate renewed interest.

Homeowners who price their homes over market value often end up selling for under fair market value. Please don’t put yourself in a position where you could lose thousands of dollars. Price your house correctly to begin with, generate a lot of buyer activity and receive a fair price. It is the smart thing to do!

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