Setting the asking price for your home can feel like one of the biggest decisions you’ll make in the selling process. It’s tempting to aim high or rely on instinct, especially when your home carries years of personal value. While “location, location, location” has long guided real estate decisions, today’s economic pressures mean many buyers are often thinking about “price, price, price” before anything else.
With so many online tools, comparable listings, and recent sales at their fingertips, buyers arrive better informed than ever. That makes your initial asking price the positioning, strategy, and lens through which every potential buyer evaluates your property. Knowing your home’s value and getting the price right from the start lays the foundation for a smoother, more confident, and ultimately more successful sale.
With the wrong price, you’ll pay later
However, when that number is off the mark, it can work against you in ways many sellers don’t expect. Both overpricing and underpricing carry risks that can affect your timeline, your offers, and your final return.
Miss out on that early buzz: When you overprice, you risk missing out on the golden first couple of weeks when buyers are most alert to new listings. Even if you drop the selling price later, the early excitement is gone. This period is often your best opportunity to generate strong offers and potentially sell your house urgently. Repeated reductions can also signal desperation, making buyers wonder why your property hasn’t sold.
Scare off potential buyers: Overpriced homes attract fewer viewings, meaning fewer prospects. Savvy buyers can tell when a property is above market value, and in today’s data-driven world, they won’t waste time on it. The longer your listing sits, the more it develops a non-selling stigma, discouraging interest and encouraging lowball offers. Proper pricing helps you maintain attention, whether you’re looking to sell your property privately or publicly.
Get stuck in a waiting game: Overpricing often results in a longer time on the market, which comes with emotional and financial costs. Extended exposure can increase carrying costs, mortgage, taxes, and maintenance, and create stress from months of open houses without results. A realistic price can be the quickest way to sell your house and avoid the marathon that drains both energy and equity.
Send a “something’s wrong” signal: If you overprice and then reduce the price, buyers may assume there’s a problem with your property. This perception is difficult to shake and can push offers below market value. Even homes that are perfect can fall victim to this phenomenon, highlighting the importance of understanding the difference between property value and market value from the start.
Create listing fatigue: When a property lingers, serious buyers may have seen your listing multiple times online and stopped paying attention. An inflated price can dissuade enquiries entirely. To recover, any new price should be accompanied by fresh visuals and descriptions to re-engage buyers, and potentially sell your house urgently.
Leave money on the table: Underpricing may seem tempting if you want a fast sale or to sell your house urgently. But setting the price too low can prevent a good sale and attract buyers who assume your home has hidden issues.
Ground your price in real market data
Because the wrong pricing can derail a sale, choosing the best pricing strategy for selling a home matters from the get-go. A well-priced property immediately captures buyer attention during those crucial first weeks on the market, when interest is highest. Accurate pricing encourages more viewings, sparks competitive offers, and positions you as a confident, realistic seller. It also shortens time on the market, reduces stress, and strengthens your negotiating power — because buyers are far more willing to engage seriously when they believe the price reflects true value.
This is exactly where a property practitioner becomes an essential partner. They use a detailed comparative market analysis (CMA) to calculate the value of your house, comparing recent sales, competing listings, neighbourhood trends, and current market conditions. A CMA provides the best way to find the value of your home, ensuring your listing is realistic and market-aligned. With professional guidance, you’ll know the best way to price a house, attract qualified buyers, and negotiate confidently, giving you the greatest chance of a faster sale and the best possible return.
Know your home’s worth
Selling your home doesn’t have to be a challenge. At Kellaprince Properties, we always start with a thorough CMA to calculate the market value of your home and find the best way to price it. From there, we use our local expertise and market insights to position your property, attract serious buyers, and get you the results you want. No stress, no fuss!
