Many sellers believe that if they price their property too high, they can lower the price later. This is true but it comes with consequences.

• Often when a home is priced too high, it experiences little activity. Gradually the owner will lower the price to current market value, but by the time that this happens it’s been on the market for too long and potential buyers may be wary (“What is wrong with the property”).
• On occasion the price is dropped below market value because the seller requires it sold quickly and is forced to sell at a lesser value.
• Sellers sometimes think “Buyers can always make a lower offer” but potential buyers that are looking within a lower price range may not have considered this property as it was not within their budget.
• Buyers who can afford a home at the higher asking price will soon recognize they can get better value elsewhere.