Home Sellers: How to Get the Price You Want (and Need)
Why Pricing Matters More Than You Think
When you decide to sell your home, setting the right asking price is one of the most important decisions you'll make. For many buyers, price is the first thing they notice—sometimes before they even look at photos or step through the front door.
If your price doesn’t make a good first impression, potential buyers may never give your home a chance.
Pricing too high can be just as costly as pricing too low. This guide outlines a smart pricing strategy to help you avoid common mistakes and get the maximum return on your home sale.
💡 A Smart Pricing Strategy Starts With Accurate Information
You might be tempted to price your home based on what nearby properties recently sold for. While that’s a good starting point, it’s not nearly enough.
Think Like a Buyer:
When you searched for your current home, did you limit your options to one street or even one neighborhood? Probably not.
Most buyers compare homes in various areas—from brand-new builds to older character homes, and from urban locations to rural settings. They focus on value for money, space, features, and lifestyle—not just location.
That means you're not only competing with the house next door. You're also up against:
- Renovated homes in neighboring towns
- Newly built developments nearby
- Well-priced homes with similar features in other school zones or districts
Buyers are comparing value across the board, so your pricing strategy should reflect the broader market landscape—not just your street.
📊 4 Common Pricing Strategies (And What They Really Mean)
1. Clearly Overpriced
Some agents inflate a home's value to win a listing—pricing it 10–20% above market value. While it may seem tempting to “start high,” this often backfires:
- Buyers ignore your listing or rule it out entirely
- The home sits on the market too long and becomes “stale”
- Agents and buyers start to assume something’s wrong with it
- You may end up accepting a lower offer than if you'd priced it correctly to begin with
2. Slightly Overpriced
About 75% of homes on the market fall into this category—priced 5–10% above market value. Often, this comes from:
- An emotional attachment to the home
- A desire to “leave room to negotiate”
While these homes may eventually sell, they usually take longer and often close below the original asking price.
3. Priced at Market Value
This is the sweet spot. These homes are priced based on:
- A thorough analysis of comparable listings and recent sales
- A realistic understanding of current buyer demand
They typically sell within a reasonable time frame and close very close to asking price.
4. Priced Below Market Value
This strategy is used by motivated sellers who want to generate interest quickly. It can create a bidding war, with multiple offers driving the price up—sometimes even above asking.
⚠️ Caution: Ensure your agent recommends this only when it aligns with your goals—not just to earn a quick commission.
✅ Key Takeaways for Sellers
- Price your home based on real data, not emotion or hope
- Understand the broader market—not just your street or neighborhood
- A “high” asking price doesn’t guarantee a high selling price
- Your first two weeks on the market are critical—make them count
- Work with an agent who provides a comparative market analysis (CMA) and has a strong understanding of buyer psychology
Want help with your pricing strategy?
Ask your agent for a customized Home Pricing Analysis and ensure your home is positioned to sell—not sit