If Your House’s Price Is Not Compelling, It’s Not Selling

If Your House’s Price Is Not Compelling, It’s Not Selling

Avoiding one big mistake when selling your house this year is crucial: pricing it too high. While overpricing might seem like a strategy to boost profit or leave room for negotiation, it often backfires.

According to Realtor.com, nearly 20% of sellers—one in five—end up reducing their price to sell their home. You don’t want to be part of that statistic. Here’s why starting too high can cause problems and how to prevent it.

Overpricing Pushes Buyers Away

With current mortgage rates and home prices, buyers are already pushing their budgets to move. When they come across an overpriced home, they’re not thinking, “I can negotiate.” Instead, they’re more likely to think, “next” and move on. As the National Association of Realtors (NAR) explains:

“Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers . . .”

If buyers skip over your listing, you lose the opportunity to get them through the door. That’s the last thing you want since fewer showings mean fewer chances to secure an offer.

The Longer Your House Sits, the More Skeptical Buyers Will Get

Here’s another problem: an overpriced home often sits on the market longer. The longer it lingers, the more buyers start questioning what’s wrong with it. Is there an issue with the house? Are the sellers difficult to work with? Even if the only problem is the price, that extra time on the market creates doubt. As U.S. News explains:

“. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”

Eventually, you may have to lower your price to generate interest. However, this comes with its own drawback: buyers might view the price reduction as a red flag, assuming there’s something wrong with the house.

The Key To Finding the Right Price for Your House

The key to avoiding these headaches? Work with a local real estate agent who truly knows the market and will give you honest advice on pricing your home.

You don’t need an agent who simply agrees with whatever number you suggest—that’s not the kind of expertise that delivers the best results. Instead, you want an agent who uses their experience and real-time market data to recommend a competitive price. The right agent will help you set a price that catches buyers’ attention, drives interest, and ensures you walk away with a great return. Choose someone who’s done it successfully before—that’s the expert you need.

Bottom Line

Remember, if the price isn’t compelling, it’s not selling. Rather than overpricing and driving buyers away, partner with a local agent who knows how to price it right.  

Let’s work together to ensure your house hits the market at the right price, attracts attention, and gets sold!