The real problem with the wrong price
You should always price in accordance with the market. Overpricing your home can attract buyers in the higher price point, but they won’t be potential buyers since your home will then be competing against homes more square footage, bedrooms, perhaps more updates, or in a better location. You could always reduce, but now your home is just chasing the market and it's becoming "the old dress on the rack". Since you get the most exposure right when your home hits the market, your best bet is to be priced right as soon as your home goes for sale.
Three things sell a home:
Location
We’ve all heard the phrase “location, location, location...”. Needless to say, an important factor in pricing a home is location. If the property backs up to a busy street or has a corner lot with no yard, that has a substantial impact on price.
Price
Your Real Estate professional has knowledge of the recent sales in your current market. They are showing the properties in the area and those homes that will become comparabile when your property has to appraise. They will be able to justify the price with the appraiser. It is important to listen to their advise and price your home accordingly or it could cost you in the end.
Condition
A home that is well maintained, updated, and decorated in neutral taste will sell. Your broker can give you tips on what to do or not to do to sell your home for the highest price in today's market.
Call me to get your home sold! I'm your local real estate professional, with expertise of the local market and the right tools to get your home sold!!