Overpriced Real Estate: Why It's a Ticking Time Bomb that Hits Your Pocket

Many owners think simply: "If I put the price above the market, there will be room for bargaining. What if there is a fool who will buy expensive?" Sounds logical? Only in practice does this strategy lead to financial losses and months of euphoria, followed by disappointment.

An illustrative example is to watch the video 

Let's take a look at why overcharging is not a marketing ploy, but a typical trap.

How the "high price" kills the sale

1. You become invisible to 90% of customers.
   People search for apartments and houses through filters. They set a clear range: "maximum 10,000,000". Your object is worth 10,800,000 - it simply won't be seen. You drop out of the search even before someone appreciates your renovation or the view from the window.

2. Customers avoid you.
   Even if the object catches the eye, the first reaction is: "Is this a joke? For that kind of money, they offer more/better/in another area." Experienced buyers understand that the owner is inadequate, and negotiations will be painful. They don't even call.

3. The deal drags on for months.
   While you are waiting for "that fool", the market is not standing still. Neighbors sell similar properties cheaper. Your apartment turns into a "long-term construction" - it gets a bad reputation (the object has been hanging for six months, which means something is wrong with it).

4. The end result is predictable: the discount will be more than you had planned.
   As a result, by wasting time and nerves, you lower the price. But not by the symbolic 5%, but often 15-20% below the market, because customers feel your fatigue and pressure. Bottom line: you get "less" than if you started with an adequate price.

Numbers you can't hide from

- Objects with a price 15-20% higher than the average market price are sold for 2-3 times longer.
- The probability of a successful sale at the initial overestimation drops by 30-40%.
- Each month of downtime is a minus of 1-2% to the total price (loss from inflation, utilities, taxes).

 The golden rule of the seller

The best price is not the highest, but realistic.

Set the price 3-5% higher than the market price - this is enough for a comfortable bargain. You will receive:
- the stream of views in the first week;
- competition among buyers ("what if he leaves?");
- a deal in 2-4 weeks, not six months.

 The Wisdom of Warren Buffett

"The price is what you pay. Value is what you get."

The buyer pays the price, but gets the value. If your price is higher than the value, there will be no sale. If the price honestly reflects the value, the buyer will say "YES" quickly.

 Do you want to know the real value of your property without illusions?

We will do a free express market analysis - we will show you how much it really costs to sell "fast" and "expensive" (these are not always the same thing, but we will find a balance).