Why shouldn’t I price my property a little high at first, since I can always drop the price later?

That’s a strategy that looks good on paper – but, in fact, is more likely to result in a lower price. Here’s why: The first three weeks a house is on the market, the activity is the the greatest. Buyers wait on the sidelines to see the new properties, since they have seen everything else. This pool of buyers is already educated and aware of the market; they already have a “feel” for what a home is worth. These buyers will reject a property that is too high – and they will as a rule not return when the price is lowered, because mentally they have ruled the property out.Secondly, if a house is overpriced, it has to compete with other properties on the market at that price level, and those are almost certainly larger or have newer/more luxurious features. So the overpriced home is unlikely to attract an offer.