When you’re selling your home, it’s natural to want the highest price possible. Many homeowners believe that pricing high gives them room to negotiate — but in most cases, that strategy backfires.
Here’s why:
Your Home’s Best Moment Is Its First Week on Market
The most serious buyers are already set up on auto-searches with their realtors. The moment your home hits MLS, they see it. That first week is your chance to make an impression.
If your home is priced too high, those buyers may skip over it in favor of others that feel like better value. And in a balanced market, where buyers have options, they compare — and move on.
“But That House Is Listed for $100K More…”
Some sellers see a home listed $100,000 above market value and think, “Mine is even nicer, I can ask more.”
But that other home? It’s probably just sitting there, overpriced — not selling. Smart pricing isn’t about what’s listed. It’s about what has actually sold.
What Happens When You Price It Right
Homes priced correctly from the start often sell quickly — sometimes with multiple offers — and for more than asking.
Overpriced homes? They tend to sit, lose momentum, and ultimately sell for less than they would have if priced properly at the beginning.
A Fictional Story (That Happens All the Time)
A seller in a mid-sized Canadian city owned a beautiful home worth around $525,000 to $535,000. But they insisted, “It’s worth more. Someone will fall in love and pay top dollar.”
So they listed it at $579,000.
Weeks passed. No offers.
Dropped to $559,000. Still no bites.
Three months later: $539,000. Still nothing.
Eventually: $519,000 — still didn’t sell.
After nearly a year, they rented it out at a loss.
Meanwhile, a similar home down the street listed at $529,900. It sold in one week for $537,000 with multiple offers.
What made the difference?
The second seller priced realistically from the start, which created urgency and competition.
The overpriced listing lost momentum — and buyer trust.
The Real Cost of Waiting
Not only did the first seller miss out on a strong sale, but they also spent an entire year covering:
- Mortgage payments
- Property taxes
- Insurance
- Maintenance and utilities
And then there’s the emotional toll: stress, frustration, and lost peace of mind — for both the sellers and their families.
Why Overpricing Hurts More Than You Think
Here are a few reasons overpriced homes end up selling for less:
- Perception: If it sits too long, buyers wonder what’s wrong with it?
- Vacancy impact: A lived-in, well-staged home feels warm. A cold, empty house loses appeal.
- New competition: While your home lingers, new (possibly cheaper) listings hit the market and steal attention.
- Lost momentum: The first 2–3 weeks are your prime window. After that, buyer interest declines, and price drops often follow.
Smart Pricing = Stronger Results
By pricing your home right from the beginning — or adjusting quickly if the market isn’t responding — you can:
- Attract strong buyers
- Create healthy competition
- Sell faster and for more
- Avoid costly carrying expenses
- Keep your peace of mind
Final Takeaway
Overpricing isn’t a negotiation tactic. It’s a gamble. And often, it comes with real financial and emotional costs.
If you’re thinking of selling, let’s talk strategy — and make sure you launch at the right price, with the right plan, from Day One.
📞 Contact Team Brissette
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