PSA for Home Sellers in Simcoe County
Pricing $15K Above Market Value Doesn’t Work
When it comes to selling your home, it can be tempting to price it a little higher than the market suggests. After all, $15,000 might seem like a small cushion, right? Here’s the reality… it’s not a cushion, it’s a barrier.
Why Overpricing Hurts Your Sale
Buyers are savvy. They aren’t just walking through your home blindly, they’re comparing it to other properties in your area. When your listing is priced above what the market dictates:
It sticks out—for all the wrong reasons. Other homes suddenly look like a better deal. Your $15K “bonus” can make buyers think twice before stepping through the door.
It kills the sense of urgency. Buyers aren’t going to fight for a home that feels overpriced—they’ll simply skip it and wait for one that feels like a smart investment.
Negotiation doesn’t save it. Many sellers assume pricing high leaves room to negotiate. But savvy buyers see through that strategy and will start negotiating from a lower base—or not at all.
The Price Is Part of Your Marketing
Think of your home’s price as the first impression. A home priced appropriately attracts more buyers, generates more showings, and creates competitive offers. Overpricing can reduce interest, lengthen days on market, and ultimately force you to lower the price later anyway—often resulting in selling for less than you could have if you’d started at market value.
The Takeaway
Pricing your home just $15K above market might feel strategic, but it rarely is. Buyers are comparing, analyzing, and making decisions fast. When your home feels overpriced, they move on. Start with a price that reflects the market, and you’ll have a better chance of generating excitement, multiple offers, and a smooth, successful sale.
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