Everyone wants to set the very best price possible when selling a house. But when pricing your house for sale, beware of overpricing. In your quest for top dollar when setting the price, realize that overpricing only decreases buyer and agent interest in the house, and in the end can cost you both money and time.

Buyers are less interested in an overpriced house simply because it is priced above market value. They are leery of countering with an offer, because of the great discrepancy in price. You will find that qualified buyers tend to stay away and, at times, the "wrong" buyers are attracted.

Agents tend to stay away from such houses because they are a waste of time for showing and diminish credibility between them and their clients.

In the end, overpricing results in a waste for the seller and frustration for both agents and buyers. Advertising dollars and time go to waste. The consequence is, ultimately, less money for the seller than if the house had been priced right in the first place.