Many sellers believe that if they price their home high initially, they can lower it later.
Often, when a home is priced too high, it experiences little activity. Gradually the price will come down to market value, but by that timeit's been for sale too long and some buyers will be wary and reject the property.
On occasion, the price is dropped below the market value because the seller the seller runs out of time. The property sells less than it's worth.
MISSING THE RIGHT BUYER
You may think that interested buyers "can always make an offer", but if the home is overpriced, potential buyers looking in a lower price range will never see it.
those who can afford a home at your asking price will soon recognize that they can get better value elsewhere.
As soon as your hom comes on the market, there is a flurry of activity surrounding it. This is a crucial time when the Real Estate Professionals and potential buyers sit up and take notice.
If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.