By: Doug Cabral

May Mythbuster

Tags: CALGARY, YYC, REAL ESTATE, MYTHBUSTER, REALTOR, DOUG CABRAL, BENCHMARK, ROYAL LEPAGE

 

Myth: 

It's probably OK to just test the market and try to list a bit high...

 

Bust: 

 

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 time it's been for sale too long and some buyers will be wary and reject the property. You may think that interested buyers "can always make an offer", but if the home is over-priced, potential buyers looking in a lower price range will never see it.  On occasion, the price is dropped below market value because the seller runs out of time. The property sells for less than it's worth.

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