Avoid Overpricing Pitfalls

By: Eilen V. Tolentino

Avoid Overpricing Pitfalls

Tags: FSBO, Toronto real estate, Disadvantages, REal estate agents, Overpricing


Most sellers think that their home is worth more than what is its actual value. They tend to overprice with this way of thinking. Without the help of a professional real estate agent in Toronto, you might see your home sitting in the market for a long period of time.
 
You must avoid the temptation of overpricing your house. Every agent quickly views the properties which are newly listed in the market to see if it’s fit for their clients. So, if your home is branded as overpriced, their interest might go down and require a price reduction. It is an advantage for your competition if you are overpricing. It makes their properties look like in bargain as their prices seems lower when you overprice your home. And nothing is worse than seeing your competition put up a sold sign.
 
Home buyers nowadays are well educated about the real estate market. They won’t even bother seeing your home and let alone make you an offer if they see you are overpricing. You will lose a percentage of buyers who are outside of your price range. Home buyers who viewed your home may negotiate harder and you may lose the opportunity of getting your house sold because of overpricing.
 
It is best to have a professional real estate agent in Toronto to educate you and help you when it comes to selling your house. They can put the proper price for your home and help you sell it faster.
 

Image