If you’re planning to sell your home this year, there’s one crucial decision that can directly impact your success: setting the right price.
While it may seem strategic to start high—thinking it gives room to negotiate or increases potential profit—overpricing is one of the most common mistakes sellers make. And it usually leads to the opposite of what you’re hoping for.
Why Overpricing Can Cost You
Realtor.com reports that nearly one in five sellers ends up reducing their price. That’s a clear sign of how pricing too high can backfire. Here’s why:
1. Buyers Will Skip Right Past It
In today’s market, buyers are cautious. With high mortgage rates and tighter budgets, they’re not looking to haggle. When a home is priced above market value, most buyers won’t even consider it. Instead of seeing an opportunity, they’ll keep scrolling for something more reasonably priced.
“Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers…” – National Association of Realtors (NAR)
If buyers don’t see your listing as a good value, you’ll miss the chance to get them through the door—and fewer showings mean fewer offers.
2. The Longer It Sits, the More Doubts Arise
An overpriced home tends to sit on the market. And the longer it stays, the more skeptical buyers become.
They start to wonder:
-
Is there something wrong with the home?
-
Has it already been rejected by other buyers?
-
Why hasn’t it sold?
Even after a price drop, that lingering doubt can remain. As U.S. News puts it:
“A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”
Price reductions can raise red flags, making buyers think you’re desperate or hiding something.
How to Price It Right from Day One
The best way to avoid these pitfalls? Work with a trusted local real estate professional who understands your market and offers honest, data-driven guidance.
Here’s what that looks like:
-
Accurate Market Analysis
A strong agent will use real-time market data to recommend a price that reflects the value of your home and current buyer demand. -
Strategic Pricing for Maximum Exposure
The right price will generate interest quickly and attract serious buyers, giving you the best chance of selling for top dollar. -
Experience You Can Count On
A seasoned agent won’t just agree with any number. They’ll guide you based on what works—not what sounds good on paper.
Bottom Line
If the price isn’t compelling, it’s not selling.
Starting too high can delay your sale, create doubt, and cost you in the long run. Set your home up for success by pricing it right from the start with the help of a knowledgeable local agent.
Let’s connect and make sure your home enters the market with the attention it deserves—and gets sold with confidence.