dangers of overpricing

Many potential buyers won't even look at your property, assuming it is out of their price range.
Buyers who do look are shopping by comparison. Viewing an overpriced home may prompt them to bid on a different property.
Since an appraisal is often required during the financing of a property, it is futile to price a property for more than it is worth.
Properties left on the market for extended periods of time usually become "shopworn," causing many buyers to believe problems exist on the property.
Overpricing tends to dampen the other salesperson's attitude, making it less likely to be shown.
Overpricing lengthens marketing time, and invariably results in a lower selling price than would have otherwise been obtained.

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