Three Quarters of Sellers Overvalue Their Homes

The majority of homeowners, 76%, believe that their home is worth more than the recommended listing price their real estate agent suggests. This is up 3% from last year, according to a recent study conducted by HomeGain.

This can be problematic for both sellers and their agents, with homes sitting on the market for far longer than necessary due to an unrealistically high listing price.

The same study showed that 68% of buyers think that homes are overpriced, as well. Almost a third of buyers believe that homes are more than 10% overpriced.

According to the general manager of HomeGain, Louis Cammarosano, “home buyers and sellers continue to remain apart as to home valuations with the vast majority of home owners thinking their homes are worth more than their agents and the market are telling them.”