We've interviewed a few real estate agents. They've given similar ranges for the value of our condo. Is it better to list at the top end to try to maximize what we get from the sale?
Asked by Jake | Nashville, TN| 03-08-2023| 1,415 views|Selling|Updated 3 years ago
Every market is different but pricing the home based on the current market conditions and comparables is the best way to get maximum exposure which in most cases leads to multiple offers which then of course leads to the highest price.
In San Francisco market, it is better to list a property at a low end to maximize the sale price. When you we priced a property below market value, we will get more buyers coming to see at the property. Without buyers coming to see the property, it will hard to maximize the price.
Listing at a higher price than the market supports is one of the most common and most costly seller mistakes, and the data consistently shows it produces a worse outcome than accurate pricing.
In Hernando County and throughout Florida, a home priced above its true market value will generate strong early showing activity (because new listings always get attention) but weak or no offers. Buyers who tour an overpriced home compare it to what they could get for the same money elsewhere and move on. After 30 to 45 days of no offers, the inevitable price reduction signals to the market that the home sat and buyers begin wondering what is wrong with it. Overpriced listings typically sell for less than they would have if priced correctly from day one.
The right pricing strategy is to review actual closed comparable sales within the past 90 days, adjust for your homes specific condition and features, and list within 2 to 3 percent of that supported value. Homes priced this way in Hernando County typically receive offers within 14 to 30 days, generate the most competitive interest, and close near or at list price. The goal is not to start high and negotiate down. The goal is to attract the widest buyer pool immediately and create natural competition that supports the price you need.
Kevin Neely & Kaitlynd Robbins | K2 Sells
No. That is a strategy for failure. If you overprice to "leave room for negotiation," you just help sell your neighbor's house. You will miss the initial wave of excitement, the listing will go stale, and you will eventually sell for less than if you had priced it correctly from day one.
Generally pricing higher means less exposure, less buyers and less money in the end. The more competitive you price it the better the end result in most cases. When pricing it high, most buyers wont look at a home thats prices higher than others comparable homes. If they do view the home, they are comparing yours to others that have more features and amenities. You will be helping your competition sell.
In most cases, no. Pricing at the top of the range sounds good in theory, but it can actually work against you.
What I’ve seen over the years in markets like Nashville and here in East Tennessee is that buyers are very aware of value. When a home is priced too high, it tends to get less attention, fewer showings, and less urgency.
The first couple of weeks on the market are when you have the most exposure. If you miss that window by being overpriced, you often end up reducing the price later and selling for less than you would have if you had priced it correctly from the start.
The goal isn’t to “test” a higher price. It’s to position the home where it creates the most interest and competition right away. That’s what drives stronger offers and better terms.
If multiple agents are giving you a similar range, the strategy is usually to land in a spot that attracts the most buyers within that range, not just the highest number on paper.
