An asking price that is beyond market range can adversely affect the marketing of a property.

• Fewer buyers are attracted, and fewer offers received.
• Marketing time is prolonged, and initial marketing momentum is lost.
• The property attracts “lookers” and helps competing houses look better by comparison.
• If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan.
• The property may eventually sell below market value.