Pricing Your Home

Setting the right price for your property requires a balance of research and insight.

The optimal price should:

• Attract serious buyers

• Maximize your return

• Ensure a timely sale

Buyers prioritize price when selecting which properties to view. While you set the asking price, the market ultimately determines the value. Avoid letting emotion lead to overpricing—a common mistake with costly consequences.

Why Proper Pricing Matters

A well-priced property:

• Sells faster, reducing stress

• Reaches a wider audience

• Generates more inquiries and interest

• Attracts competitive offers

• Maximizes your profit

• Avoids becoming "stale" on the market

Buyers compare your home to similar properties in the area, so your pricing must reflect current competition.

Why Sellers Overprice

Common reasons include:

• Over-improvement for the neighborhood

• Financial pressures

• Previous purchase in a higher-priced area

• Lack of current market information

• Assuming room for negotiation

• No urgent need to move

• Relying on outdated valuations

• Emotional attachment

• Outside opinions from family/neighbors

The Risks of Overpricing

• Missed early momentum – Most buyer interest occurs in the first few weeks.

• Delayed interest – Fairly priced homes sell quickly to motivated buyers.

• Price reductions may come too late – By the time you adjust, initial interest may have faded.

• Valuation challenges – Can lead to financing issues and delays.

• Fewer viewings – Buyers often skip properties priced above comparable options.

• Extended market time raises concerns – Buyers may suspect hidden issues.

• Attracts unrealistic expectations – Buyers may expect more than the property offers.

• Helps competing properties – Buyers may choose better-priced alternatives.

• Added expenses – Extended ownership costs (mortgage, taxes, upkeep) reduce profits.

How Professional Guidance Helps

An experienced advisor will:

• Provide a market evaluation – Analyzes recent sales and current listings to assess competition.

• Explain current conditions – Value is determined by what buyers are willing to pay.

• Recommend pricing strategy – Based on:

  • Your desired timeline

  • Available financing options

  • Property condition

  • Marketing plan

• Track market activity – Monitors comparable properties.

• Estimate net proceeds – Projects your final profit after expenses.

• Suggest effective strategies – Recommends approaches to attract qualified buyers.

Remember: Marketing influences interest—but the market determines value. Choose your advisor based on their knowledge and track record, not just their suggested price.