California Brokers
(310) 378-1564 (866) 564-6946(JohnZim)
(877) 378-6575 efax

Consequences of Overpricing


If the price is too high, buyers won’t even look at an otherwise beautiful home.

It will take longer to sell.

You will have fewer showings.

You will receive lower offers.

Your property will help sell other properties. Agents may show your home to help sell another home of equal quality, but lower price…or equal listed price that has more amenities and value.

By overpricing, we lose the advantage of first time exposure. An overpriced home goes stale during the important first weeks on the market.

An overpriced home discourages enthusiastic agents/brokers on tour or caravan.

Assuming we've procured a willing buyer, overpriced properties usually are not appraised at contract price when the buyer requires a loan.

It may not sell at all.

Studies Show:

Homes priced 0%-3% above the average of recent similar comparable sales have an 85% chance of selling in 90 days or less.

Ask Price % Above Similar Averages                  Selling Probability                                  Time(D.O.M.)
  0%-3%                                                                             85%                                                      90 days
  4%-7%                                                                             55%                                                      90 days
  8%+                                                                                 20%                                                      90 days

Five key ingredients that make a property sell:

    1. Location.
    2. Price.
    3. Terms.
    4. Condition.
    5. The Agent you select.

You control four of these!

(310) 378-1564 (866) 564-6946(JohnZim)
(877) 378-6575 efax

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