Is your Newmarket / Ely Home overpriced ?
The problem with overpricing on day one
Buyers are savvy right now.
They know which agents list above market value.
They have access to sold data.
Many have probably already accepted a reduced price on their own sale.
The purple patch for a new listing is weeks 1–4 — when you get the most enquiries, viewings and activity.
If you reduce later, those buyers have probably already bought. And those who haven’t may be thinking:
Is the seller actually motivated?
What’s wrong with the property?
Why are they sticking with the agent who overvalued it?
So you’re effectively starting the sales process again at a new price — which could still be the wrong price.
By then, two months have slipped away, your property has become old stock, and plenty of newer homes have come to market.
Overpricing doesn’t just cost you time. It can cost you your best buyers.
