Historically properties with a longer "time on the market" yield a
lower "net" to the seller. The monetary loss and many
inconveniences to the seller could be significant.

Overpricing diminishes the property's exposure to the right buyer.

Buyers search for properties by price range. If you are above the upper limit in the computer search, your property will not be displayed.

Due to the increased time on the market, the property runs the
risk of becoming "shop worn."

Properties on the market for a longer period of time generate
lower offers.

Buyers educate themselves with market comparables.
Buyers will avoid overpriced homes and look elsewhere.

Homes usually sell at a Fair Market Value. Pricing a home realistically will bring an early sale, fewer inconveniences,
and a greater monetary return.

Low appraisals could affect financing of sales involving a
high loan-to-value ratio.