.png)
Selling your home is a big deal. There’s emotions and LOTS of money involved when buying and selling. When selling, the goal is to get the maximum return from your investment However, aiming too high can lead to shooting yourself in the foot.
During the pandemic-era, when prices far exceeded owners expectations, sellers could get away with overpricing in the market. But now, the numbers are showing that we are returning to a more normal market. According to Realtor.com, “The Number of Price Cuts Is Back at Normal Levels”. In February 2022, only 64,958 listings saw price cuts in the month of February. Now, February 2025, 262,330 listings saw price cuts. (See Graph Below)
This is important because one of three things can happen when overpricing occurs and/or price cuts:
Buyers may not even look at your property. Rather than attempt to negotiate, many buyers who are budget-conscious (the majority of buyers in the market today) are likely to skip over for something more in their price range.
It could sit on the market for too long. Statistics show that the longer your house in on the market, the more skeptical buyers will be of it. This, in turn, can make it harder to sell.
You might end up with less. Homes that require a price cut usually end up selling for less than if they had chosen a more accurate price to begin with. A clearly overpriced property invites low offers.
It’s easy for you as a seller to see all that is right with your house, but when you go into negotiations with a buyer broker, that broker is being paid to undercut and undermine the value on your property to help their client acquire it at a minimum cost. If you avoid handing this chess piece to a buyer broker, then you have a better chance at maintaining your property’s value within the transaction. The best way to avoid this is to acquire professional help of your own. If you are looking for representation, please, give us a call!