What problem can arise from setting a listing price too high in the current market?

Setting a listing price too high in the current market can lead to a loss of confidence in the listing agent. When properties are priced significantly above market value, they tend to linger on the market for a longer period of time without attracting serious buyers. This extended time on the market can create a perception among clients and potential buyers that something is wrong with the property or that the agent does not have a good understanding of the market dynamics. As a result, sellers may become frustrated and lose trust in the agent’s ability to properly price and sell their property, impacting their willingness to work with that agent for future transactions or referrals.

In contrast, pricing a property too high does not typically lead to increased buyer interest or immediate offers, nor does it facilitate faster sales. When a property sits unsold, it can cause further problems that detract from the overall credibility of the listing agent.