Why Overpricing Could Cost You the Sale

If you're getting ready to sell your home, there's one thing you absolutely need to get right: the asking price. It might feel natural to start high and leave room for negotiation, but that strategy can backfire fast in today’s housing market.

Right now, buyers are more informed than ever. They're tracking mortgage rates, watching market trends, and comparing listings the moment they hit the market. If your home is priced too high—even just slightly—you risk getting overlooked entirely. Buyers won’t even bother to look at a home that seems overpriced. Instead, they’ll wait for a price drop or simply move on to something more reasonably listed.

Here’s what tends to happen when a house is overpriced: showings are slow or non-existent. Eventually, the price drops, but by then the home may already feel stale. Buyers start to wonder what’s wrong with it, even if nothing is. It’s like that item in the store that’s been sitting on the shelf too long—suddenly everyone assumes there must be a catch.

On the flip side, pricing your home right from the start can create momentum. It attracts serious buyers and can lead to stronger offers—sometimes even multiple offers—because it’s positioned competitively in the market. And let’s be real, the longer a house sits, the more likely you’ll end up settling for less than if you’d priced it right the first time.

I’ve seen this firsthand more than once. Sellers who listened to market data and trusted their agent’s pricing advice often closed quicker and walked away happier. Those who tried to “test the market” usually ended up reducing the price and extending their timeline—sometimes by weeks or months.

In summary, I’d say the smartest move you can make is to partner with a local agent who knows your area and can guide you to a strong starting price. Trust the data, not your emotions or wishful thinking. When it comes to selling your biggest asset, first impressions matter more than ever.