Your house needs to be sold three times:

		To other agents, who know the market.
		To the buyer, who is comparing properties.
		To the bank or mortgage lender, who will appraise the property in order to substantiate lending the funds. If the house doesn’t appraise for the sale price, the buyer will need a large downpayment to cover the difference of the appraisal. This in turn will limit the amount of potential buyers.

Buyers from the wrong price bracket will be looking at your home. You will lose out on buyers that should be looking at your home. The seller sets the initial price of the house, but the buying public decides it what it will pay. Overpricing a home will cause "lowball offers."

The goal when setting the price of your home is to be as close to market value as possible, this will cause multiple offers which will drive the price of your home up.

Request a Comparative Market Analysis of Your Home