809,258
One he forgot is "I want to have room to negotiate." -Kasey
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Inna Ivchenko
Encino, CA
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
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Doug Dawes
Topsfield, MA
-
Margaret Goss
Winnetka, IL
5,772,575
Jeff,
I have asked this question on the luxury end, and there are many homes that are overpriced. Sometimes this strategy works, because an offer can come in that is higher than the CMA. With luxury on the ultra high end, it can happen. Also on the luxury end, they don't have to sell or buy. There is no financial urgency either way. My advice would be to price it right, but again, one is bucking a current that has proof. A
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Inna Ivchenko
Encino, CA
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Susan Emo
Kingston, ON
2,178,603
Those are all ridiculous reasons... and often used!
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Jennifer Mackay
Panama City, FL
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Lyn Sims
Schaumburg, IL
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
7,836,139
There will never be a shortage of unrealistic home sellers. You do not want them as clients.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
2,220,654
Poor reasons
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Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,416,038
NONE but most often i hear "i want to try to it to see if i can get it" in 2-4 weeks it is at where it is suppose to be
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Doug Dawes
Topsfield, MA
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Scott Godzyk
Manchester, NH
1,249,513
Those are all good ones - and we've heard them repeatedly (along with needing "wiggle room."
In my opinion, there is no good reason to overprice a home. The chance of getting lucky is so low compared to the very high probability that it will sit on the market for a long time.
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Lyn Sims
Schaumburg, IL
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Doug Dawes
Topsfield, MA
2,817,671
The #1 reason...you don't really want to sell it.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
5,216,409
Not that I can think of if your mission is to sell!!
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
921,504
Any good reasons to overprice a home?
Define overpriced?
Now, define underpriced?
My thoughts? It is REALLY hard to raise the price.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
989,652
Brokers in my area teach "he/she with the most listings wins. Take the listing even if it is overpriced and work out the pricing later".
I completely disagree with them, but they do get the listings - they just don't sell them LOL
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Debe Maxwell, CRS
Charlotte, NC
4,800,082
Yes, If I were in the middle of a divorce and lived in the home and didn't want to move.
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Debe Maxwell, CRS
Charlotte, NC
599,274
I prefer to price homes to sell rather than leaving them sit on the market.
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Debe Maxwell, CRS
Charlotte, NC
1,543,823
You're unprofessional? That would be a good reason I suppose.
Otherwise no, no good reasons to over price a listing...thanks FOR THE LINK.
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Debe Maxwell, CRS
Charlotte, NC
3,587,960
I've heard them all Jeff, many times and it almost never works out well for the sellers - or the agent.
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Debe Maxwell, CRS
Charlotte, NC
1,844,301
6,393,494
Nothing ventured, nothing gained, sometimes they sell for ridiculous prices.
Depends on how much you want to actually sell, and how much you want to waste time and give useless tours.
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Debe Maxwell, CRS
Charlotte, NC
1,196,798
No, we are market sellers not market makers
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Debe Maxwell, CRS
Charlotte, NC
1,153,794
Jeff, that's an excellent group of ridiculous reasons. The only viable reason is when you have all the time in the World. The market eventually catches up if you're lucky enough to survive it. That being said, know that once your market time exceeds the local average current potential Buyers will probably view the home as tainted and likely discount any offer even further subsequently negating this strategy.
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Doug Dawes
Topsfield, MA
1,466,207
851,242
There's never a good reason to overprice a home but I liked the author's approach here --- got our attention and better yet, he noted (more than once!) that an agent can be a very valuable resource.
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Doug Dawes
Topsfield, MA
5,104,931
I've actually heard sellers use these as reasons to overprice... hopefully the author did mean this to be tongue-in-cheek.
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Doug Dawes
Topsfield, MA
2,781,173
All things should be explored to ones satisfaction. That said, there are many ways to go about this. Whats important is the end results...
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Doug Dawes
Topsfield, MA
1,622,432
Yes, if the prices are skyrocketing and all sold comps are still low. Also if the house is unique, or over sized, or have an incredible view but no recent comps that fits that criteria, etc.
1,712,676
Not worth my time and it is bad advertsing for yourself to have a home sitting on the market a long time without selling.
2,194,668
I suppose if you're a narcissistic attention grabber who is lonely and enjoys the sadism when somebody knocks on your door and then stomps off in a huff.
4,434,127
1,502,998
3,071,489
5,230,102
Oh, Kasey & John Boles nailed the most common reason that I hear for over-pricing as well! "We need some room to negotiate!" OH NO YOU DON'T!!
Sellers hire me for my negitiating skills and my marketing. We need an Offer for me to be able to negotiate for them and if we're over-priced, we're not going to get that Offer!!
1,725,996
If a very unique home where no adequate comps are available then , Yes; but within a practical range and open to lower offers.
4,319,419
Jeff Dowler - all of them makes no dollar and no sense!
(And still, many agents do overprice the listings! I have done it, too....)
3,986,258
4,936,705