Almost every seller wants to list high, and almost every agent has had the conversation about why that is a mistake. Overpricing feels like protecting your equity. In practice, it usually costs you money.
Here is what actually happens. The first two weeks on market are when a home gets the most attention, the most showings, and the most offers. Price it 5 percent above market and buyers who saw it in the first burst compare it against better-value homes and move on. The listing goes quiet. Days on market climbs. After a few weeks, the home feels stale, and buyers start assuming something is wrong with it.
Then the price drops. Often more than once. Each reduction signals desperation to the same buyers who passed on the original price, and the eventual sale price lands below what a sharp initial price would have brought with a competitive offer situation.
The better strategy is counterintuitive: price at or slightly below market value to generate urgency, let multiple buyers compete, and let the market push the price up. In the Phoenix area, where great homes in popular neighborhoods still attract multiple offers, the difference between a stale full-price listing and a 10-day bidding round is often tens of thousands of dollars.
The fix starts with the comparative market analysis: real numbers from real sales of comparable homes in your neighborhood, not the number you hope for. I will show you the data, tell you what the home will realistically appraise for, and explain exactly what each pricing choice is likely to cost or save you.
If you would like a free CMA and a straight conversation about what your home should list at, send me a note. No pressure, just numbers.
Angie Rivers, The Ralston Team
A Phoenix-area realtor who treats home buying and selling like a family affair: listen first, advocate fiercely, stay in your corner long after closing.
Work with Angie