.svg)
Your neighbor's house sold for $500,000. Your house is nicer. So you should list at $525,000, right? Wrong. Here's why that logic will cost you money—and time.
The Psychology of Pricing
Buyers don't see individual homes. They see a market. When they search in the $475,000-$525,000 range, they're comparing 20-30 properties. Your overpriced home isn't competing against itself—it's competing against everything else in that bracket.
At $525,000, you're now being compared to homes that are legitimately worth $525,000. Your "nicer" home suddenly looks... average. Or worse.
The Death Spiral
Week one: No offers. "Just need the right buyer."
Week three: One lowball offer. Rejected.
Week six: Price reduction to $510,000. But now you've got a "stale" listing that everyone already passed on.
Week ten: Another reduction to $495,000. Now you're selling for LESS than if you'd priced correctly from day one.
The first two weeks generate 80% of your buyer interest. Overprice, and you've burned your best opportunity.
The Right Approach
Price based on what's actually selling, not what's listed. Look at closed sales from the last 30-60 days. Price 1-2% below comparable sales to generate competition. The goal isn't to list high—it's to sell high. Those are different strategies.
.svg)
.svg){kind=icon}