What happens when you overprice your home?
This is one of the most common seller mistakes, but here’s why it might actually cost you:
It’s peak season and the market is hot… It can be tempting to list your home high to “leave room to negotiate.”
Here’s why that strategy might backfire:
1. FIRST IMPRESSIONS
Right when your home first hits the market is when you’ll get peak interest. Buyers and their agents are watching the market closely — and if the price is too high, they’ll scroll right past.
2. DAYS ON MARKET
The longer your home sits at a higher price, the more people will wonder “Is there is something wrong with the property?”. You’ll also waste your time and delay your own moving timeline.
3. LOW BALL OFFERS
Eventually an overpriced listing might get an offer, but they are almost ALWAYS far below your listing price with terms that may not be beneficial to you. We don’t want you to be offended or desperate, so its better to start off right at the right listing price.
4. FAILED APPRAISALS
Even if you get an offer with a loan involved, the appraisal might not meet the contract price. That means price cuts or credits to the buyers, delays, or a deal that falls apart.
SO WHAT SHOULD YOU DO INSTEAD?
Price it right from the start.
A well-priced home gets attention, multiple offers, and better terms.
Here’s how:
Work with a local expert Realtor.
We know the Idaho market and will compare your home to the competition on the market, look at the current market trends and provide you with a CMA (Comparable Market Analysis) suggesting a listing price that will get you attention and top dollar.
Want to SELL your home? Call us today!
