Time and time again, properties are put on the market at over-inflated prices where they remain in limbo – until the seller drops the price.
So why do people still fall for overvaluations? Here are four reasons.
Flattery
It feels great to think your home is worth way more than you ever imagined. Sadly, falling for flattery can tie you into a contract and delay the sale of your home.
What the overvaluation represents
More money means more opportunities for your next home – an extra bedroom or a bigger garden. But an overpriced property can distort a seller’s view of their buying power.
Lack of research
If you don’t know what’s happening on the local market, there’s no way of knowing whether your property has been valued accurately.
Naivety
It’s easy to fall for smooth talkers, but agents making inflated promises rarely deliver. An ethical and experienced agent will give you an honest valuation that won’t leave your property stuck on the market for months.
Selling your home? Contact us today.
