There are inherent dangers to the Seller in over-pricing:
- Time on market is increased
- Many buyers will not even consider a price range beyond their means
- Listing becomes shop worn, and many agents and buyers become suspicious that something is wrong with the property
- Extended time on the market entices lower offers because the seller must be desperate
- Property is hard to keep in top condition when the listing goes on and on
- Total number of showings will be limited
- Sellers who must move risk splitting up the family or maintaining two houses
- Other properties will sell faster in comparison depleting the existing buyer supply