Homebuyers believe homes for sale are overpriced

IMG_2435According to Realtor Mag – The business tool for real estate professionals, most sellers estimate home value well above recommended listing price. The survey found that 77% of sellers say their home is worth more that their real estate agent’s recommended selling price. Nearly 40% of Realtors surveyed said that homeowners believe their home is 10-20% higher than it really is, with another 40% overestimating up to 10%.

Meanwhile, the majority of home buyers believe homes for sale are overpriced.

23% of real estate professionals say that buyers believe home prices are overpriced by 10-20%, and 36% say prices are inflated by less than 10%. About 28% say home prices tend to be fair.

The survey found that many homes sell for less than the price at which they are listed, about 77%. Nearly 60% of real estate professionals say that the average difference between listing price and sales price is less than 5-10%.

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