The goal of every seller is to sell for as much money as possible. Right? It’s tempting to overprice. After all, there’s always a chance you might knock one out of the park right?

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Technically, the answer is yes, however that does not mean that listing a higher price than everyone else is a viable strategy. In fact, there are a multitude of explanations as to why testing the market with a higher price could be a problem.

To begin, pricing too high is not recommended, as it could result in selling other neighborhood homes for less, instead of yours. Keep in mind that not everybody is not a fan of negotiation. Some sellers intentionally over price their property as it offers space to bargain, but the reality is that if a potential buyer is already out of their budget, no negotiating will be possible.

Another factor to bear in mind is that certain companies may be willing to accept whatever price you name, in an effort to get the opportunity to sell your home, but we at American Paradise Properties feel that does nothing more than waste the sellers time. We take the time to review recent sales in the area to accurately depict what is the true value of your home. Moreover, many house-hunters rely on tech when browsing for properties, meaning they will use parameters such as budget to set their search parameters.

For instance, if the property is actually worth $319,000 but is listed for $330,000, it will not be part of the search of buyers looking for properties from $300,000 to $325,000.

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Last, but not least, appraisals have an influential role in this process. Since an appraisal, by definition, is essentially an "opinion or estimate of value," if it fails to come to the higher amount of the price, the buyer’s bank will most likely refuse to loan the funds and both buyer and seller will suffer. All in all, the message is clear - setting the correct price from the get-go will guarantee you a good deal and the maximum price in a timely fashion. If a house is on the market for a lengthy period of time, it will be rarely shown and, therefore, difficult to get sold.