1. Sellers lose the positive impact of the newness of their home on the market and can lose prime selling time.
2. Sellers lose confidence in their agent and blame the agent when their home is not sold. They complain about poor salesmanship, failure to report often enough, too little advertising, not enough showings, lack of concern.
3. Buyers concentrate on objections and minimize good features of the home.
4. Buyers become confused about values and generally buy another home where they are more comfortable about the price.
5. Sales Associates lose enthusiasm about showing properties that Buyers reject due to price. They prefer showing homes where their chances of selling are better.
6. Sellers place themselves in a poor position to obtain maximum dollars since property can become "shop worn".
7. Sellers lose valuable time. Time is wasted in preparing for showings, families are separated needlessly when a out of town transfer is involved and school openings are missed.
8. Buyers become suspicious, thinking that there is something wrong with either the home or the neighborhood when a home has been on the market too long. Buyers always ask how long a home has been on the market.
9. The real estate agency loses its reputation in the area when a property is not sold. The neighbors blame the agency and will list their home with another REALTOR.
10. Negotiations between Buyers and Sellers usually breakdown when a home is overpriced because a Seller does not know a good offer when he/she sees one.
11. The real estate agency wastes advertising dollars.
12. Sellers lose opportunities to buy another home or incur additional costs when carrying two mortgages.
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