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Beware: Do not be tempted to over price your property

Overpriced property is one of the biggest downfalls in the property market today. Houses stay on the market for up to 4 years before a single offer is received and 9/10 times, it is the price that the agent had recommended in the beginning. Here are a few pitfalls that overpricing your property causes:

  •     Buyers are reluctant to offer
  •     Continuous price reductions
  •     House finally sells below market value
  •     Discourages potential buyers from viewing
  •     Best marketing time is lost (first 3 weeks)
  •     Advertising response reduced
  •     Seller gets lower offers
  •     Buyers eliminate the property based on price
  •     Competing properties become more attractive
  •     Extends marketing period
  •     Lack of Buyers interest
  •     Property becomes over-exposed