Reduced Sales Activity
Buyers won’t look if they feel it is priced too high
Reduced Marketing Responses
Potential buyers will be looking for certain types of property in a price range
Losing Interested Buyers
They will feel they should be getting more for the price
Attracting the Wrong Prospects
They will be comparing it with properties that really are higher priced property
Eliminating Offers
Buyers make offers based on what properties are available to them
Helping the Competition
A high-priced property makes the others look like better deals
Extending Marketing Time
Most of the time the sale price ends up lower than it could have been if it were priced right to start with.