How to be a smart seller during a multiple offer market
When you start the process of selling your home, though, you have to make a shift in
your perception. This is business, and you are selling a product in a larger market that
will dictate much of your decisions. You can choose to ignore the market, but to do so is
risky, and a decision most people end up regretting. There are many risks of pricing
your home too high the most important being the fact you will sell it for less than if it was
Why Home Buyers Don't Make Offers on Overpriced Listings
• They don't want to offend the seller. It goes against human nature to offer
substantially less than asking price to a seller. It's insulting to the seller and
embarrassing for the buyer.
• Buyers erroneously believe that the seller knows the home is overpriced. They
believe that if a seller would be willing to sell for less, the seller would simply
lower her price.
• Buyers also assume that the seller must have turned down low-ball offers from
other buyers because surely someone, somewhere along the line, had offered a
reasonable price to the seller. But many times, there are no offers at all.