In many cities and especially in the Tampa area, there are a large amount of homes on the market. For example, if no other houses came onto the market it would still take several years to sell off the current inventory. This being said, if you are over priced to start with it is most likely buyer‘s agents will skip over your home because they have so many other homes to show their buyer. If you are obviously over priced it will also portray you as an unreasonable seller and a buyer’s agent will likely avoid this scenario for their buyer.
Two Key Points
First of all, the first few weeks of your listing are the PRIME marketing time for your home. This is when you are the fresh, new home on the market and all of those buyers and agents who are watching the internet everyday for the new and best opportunity will see you. You have heard of making a good first impression, well this is a perfect example of that.
Secondly, what I like to tell sellers is – You will do one of two things; Sell your home or help to sell your competitors home. Yes, it’s that simple. If a buyer wants to see your house they are likely also looking at comparable homes for sale in the area. If you are overpriced, you will help to justify their decision TO BUY THE OTHER HOME. Well, that doesn’t serve you well at all. Make them help to sell YOUR home instead.