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Sellers often tell me, “Let’s price it high so we have room to negotiate.” I get it because they want to get the most for their homes, especially in a seller’s market. But here’s the truth: overpricing is one of the biggest mistakes you can make. Even when the market is strong, pricing too high can cause serious problems that might cost you more than it helps. Today, I’ll break down the dangers of overpricing your home in today’s market:
Buyers compare your home to others for sale. They aren’t thinking about how much you need or want. Instead, they’re looking at what else they can get for the same money. If your home is priced higher than similar homes, it just makes those other homes look like better deals. That means your listing gets passed over, and you miss out on those motivated early buyers.
The longer a home sits, the worse it gets. Buyers start asking, “Why hasn’t it sold?” When a house has been on the market too long, it raises red flags because people assume something’s wrong with it. They lose interest—or worse, they come in with lowball offers. I’ve seen sellers turn down a decent first offer, only to regret it weeks later when nothing better came along.
Overpricing doesn’t raise your final price. Another big problem with overpricing your home is that it delays the sale and doesn’t entice people to look at it. If a buyer makes an offer, their agent uses the same market data you use to set your home’s value. If your list price doesn’t match what the market supports, there’s a good chance the deal falls apart during escrow.
Smart pricing is strategic. When I sit down with sellers, we don’t guess. We look at comparable homes, review recent sales, and determine a probable sale price. From there, we choose a smart list price. Sometimes that means pricing 1% to 3% above market value. Other times, it means pricing slightly below to drive multiple offers and create urgency.
Buyers are quick to move on, especially if a home feels overpriced. But when pricing is dialed in, it creates leverage, gets attention, and leads to better offers. If you want to avoid the pricing trap and list your home correctly, call or text me at (248) 850-1436 or email me at hey@theintegrityteam.com. I’ll help you develop a personalized strategy based on real numbers and local insight so that you can move forward with confidence and clarity.
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