
Pricing a property correctly from the start is one of the most critical factors in achieving a successful sale. It’s a topic that can sometimes be met with resistance from sellers, but the reality is this: there is no real benefit to overpricing a home just to “leave room to negotiate.” In fact, doing so can end up costing you more in the long run.
Examples of overpriced homes abound. At Adam Timothy Group, we’ve held open houses for at least two homes that were clearly priced about 15% higher than where they should have been. In one case, the home ended up selling for a much steeper discount than necessary, as buyers saw how long it had sat on the market and began questioning its value. The second home eventually sold at nearly 15% below its original asking price, exactly where we thought it would. But by the time it reached that number, it had likely lost momentum, and the seller had to endure a longer, more stressful selling process.
The question often arises: was the agent trying to convince the seller to lower the price, only to face resistance? Or did the agent genuinely believe they could achieve the higher asking price? While the answer might vary, the outcome is always the same—an overpriced home often takes longer to sell and risks netting less than it could have if it had been priced appropriately from the start.
Conversely, we’ve seen how competitive pricing leads to success. Two homes we sold around the same time serve as great examples. Both were listed competitively, generating loads of interest and going under contract in less than the market’s average days on market. Each sold at asking price or slightly higher, thanks to the initial momentum created by the right pricing strategy.
Sellers need to understand that pricing a home correctly is the single greatest way to achieve the highest possible value in the shortest amount of time. Here’s why:
Buyers Are Savvy: In today’s digital age, buyers have access to a wealth of information about comparable homes and market trends. If a property is overpriced, they’ll likely skip over it in favor of more reasonably priced options.
First Impressions Matter: A property gets the most attention in its first few weeks on the market. If the price is too high, you risk missing out on serious buyers who are actively looking.
Stale Listings Lose Appeal: When a home sits on the market for too long, buyers start to wonder what’s wrong with it. Even if you reduce the price later, the stigma of a lingering listing can be hard to shake.
Negotiation Power: Pricing competitively often leads to multiple offers, which can drive the price up. Conversely, an overpriced home invites lowball offers and can leave sellers with less leverage.
We understand that letting go of preconceived notions about a home’s value can be tough. Emotions and personal attachment often play a role in setting expectations. But it’s important to trust the data, the expertise of your agent, and the market itself. By pricing your home right, you position it to attract serious buyers, generate interest, and ultimately sell for its true value.
At Adam Timothy Group, we specialize in guiding sellers through this process with transparency and strategic advice. Our goal is to help you achieve the best possible outcome, without the frustration and delay that come with overpricing. If you’re ready to sell your home, let’s have a conversation about how we can position your property to stand out in the market and deliver the results you’re looking for.
We don’t just buy and sell homes. We build community by helping clients find their place in the world.
Timothy Powles and Adam Stanley work together on the Adam Timothy Group at Compass RA and manage AT Real Estate Group LLC, a rental and vacation property investment business. We are about building community. We believe a real estate transaction is an important and extremely significant event but relationships last a lifetime. Our clients, partners, and friends trust us to get to know their story and what is most important to them. And we work tirelessly to retain that trust.
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