Myth Monday: Pricing to Sell

The Dangerous Myth: “Price Your Home High So There’s Room to Negotiate”

When it comes time to sell your home, one of the biggest decisions you’ll make is how to price it. It’s tempting to aim high—after all, who wouldn’t want to get top dollar? And you may have even heard this advice before: “Price it high so there’s room to negotiate.”

At first glance, this sounds logical. But in reality, overpricing your home can hurt your sale more than help it. Let’s break down why this is one of the most damaging myths in real estate—and what you should do instead.

🚫 The Myth: Start High, Negotiate Down

The thinking goes like this: If you price your home above market value, you’ll create a buffer for negotiations and still land near your ideal price. Some sellers even believe that buyers expect to haggle, so starting high is just part of the game.

But this strategy often backfires. Here's why.

✅ The Reality: Overpricing Can Cost You More in the End

1. Fewer Showings

   • Most buyers shop online first. They use filters based on price, and if your home is priced too high, it won’t even appear in their search results.

   • Even if it does, today’s buyers are savvy—they’ve done their homework, and they’ll likely skip overpriced homes.

2. Stale Listings Raise Red Flags

   • A home that sits on the market too long makes buyers wonder what’s wrong with it.

   • Eventually, you may have to lower the price anyway, and by that point, the listing has lost its “freshness.” You could end up chasing the market down.

3. You Might Get Less Than Market Value

   • Ironically, pricing high can lead to lowball offers. Buyers assume you're desperate if the home hasn’t sold.

   • Homes that are competitively priced often receive multiple offers, which can drive the final sale price above asking.

4. Appraisal Issues

   • If you do get a buyer at an inflated price, the home still has to appraise.

   • If the appraisal comes in lower than the contract price, it could derail the deal or force you to lower your price anyway.

📊 The Smarter Strategy: Price It Right From the Start

Homes that are strategically priced based on comparable sales and current market conditions tend to sell faster and for more money. A well-priced home:

• Attracts more qualified buyers

• Generates more showings and interest

• Can lead to multiple offers and bidding wars

• Creates urgency

💡 Final Thoughts

It’s natural to want top dollar for your biggest investment. But when it comes to pricing your home, aiming high doesn’t mean you’ll sell high. In fact, it often has the opposite effect.

Instead, work with a knowledgeable real estate agent to price your home competitively and strategically. The goal isn’t just to sell—it’s to sell quickly and for the best possible price. And in most markets, that means pricing it right, not high.

Thinking of selling your home? Let’s chat about the market in your area and how to price your property to sell smart—not just shoot for the stars. 🌟

Jennifer Delisle

Luxe Living Real Estate

Keller Williams Realty Metropolitan