At French & French Sotheby's International Realty, we understand that you want the best price for your property. There are many strategies for reaching this goal, but overpricing is not one of them. Overpricing can have many negative effects, and the least desirable is delaying or preventing the sale of your home. The following are a few consequences of overpricing:

Initial pricing is crucial to the expeditious sale of your home or investment property. After the first few weeks or months on the market, your property can grow stale. Often, if a house is on the market for an extended period of time, it eventually will be sold at a reduced price. Experience shows us that a more immediate sale nets the highest profit for the seller. This is even more critical if the market is static or declining.

Even when the price is reduced, your home might be overlooked because it is still thought of as being "overpriced."

If your property is overpriced, it will be difficult to secure an appraisal and a loan commitment.

Some real estate agents or competing sellers may use your home's price as leverage to sell other homes in your area that are priced lower than your property.

As always, first impressions are difficult to change. By pricing your home at a price the market will support, your agent will be able to effectively use all the marketing programs available to get the best possible results quickly and effectively.

Sellers sometimes ask, "So what if I'm overpriced? Someone can still make me an offer, can't they?" The fact is buyers are astute, and it's easy to determine if a property is overpriced. Buyers then question the motivation of the seller, and a trust issue is suddenly introduced.

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