How To Price Your Home

Dated: 12/26/2017

Views: 38

Are you thinking about selling your home? Your first thought should be to contact a Realtor®, maybe three. After interviewing them, one suggests a much higher list price. might be how to price your home to get your maximum value. Wow, that sounds great, right? Maybe not. What happens if you overprice your home? Here are 3-5-7 dangerous effects of overpricing your home:

  1. Overpricing Costs Time On Market

You miss the initial attention to the market and in a hot market as days on market (DOM) are increased, it can create a stigma to the property as well as losing credibility to buyers agents that know it’s not reasonably priced.

One point that buyers look for when evaluating a property is the days on market.

When a property is on the market for 30 days or more, buyers begin to think that something is either wrong with the property or that it is overpriced. When buyers think that a property is overpriced, they expect a reduction in price.  

It may take longer to receive an initial offer.

2. Limits The Potential Buyer Pool

More buyers are qualified to buy at the lower price ranges than the higher price ranges.  So as you go up in list price, fewer people will be qualified to buy.

It’s important to be aware how buyers search for homes on line when you are setting your price.  These days, they fill out web forms and include a price bracket.  Often the breaks are every $25,000.  So, you wouldn’t want to be just above a bracket.  If you are thinking about $295,000 or $310,000, if you price your house at $295,000, you are more likely to be the best value in the lower bracket, rather than one of the less attractive ones in the higher bracket.

3. Overpricing Leads to Criticism of the house

Buyers comparison shop. When they look at multiple homes within a price range they are going to compare the quality and features of similarly priced homes. When you overprice your house, you are making buyers compare it to houses that are worth more and it will fail that comparison. Perhaps in that higher price range all the other houses have 2 full baths and your has only 1.5. Why pay as much for your house when they can get that extra half bath for the same money? They won’t. And your house will sit on the market.


By overpricing your home, you stand the chance of actually losing money in the long run, as your home lingers on the market. (This is where I would promote the idea of using the expertise of a local real estate agent (like myself!) as a trusted adviser. BLOG | Search Homes For Sale | We're HIRING | Cyrpto Currency | Travel

Coverage Area

Acworth | Alpharetta | Atlanta | Austell | Avondale Estates | Ball Ground | Berkeley Lake | Big Canoe | Braselton | Brookhaven | Buckhead | Buford | Canton | Carrollton | Cartersville | Cave Spring | Cedartown | Chamblee | Chattahoochee Hills | Clarkston | Cleveland | College Park | Commerce | Conley | Conyers | Covington | Cumming | Dacula | Dahlonega | Dallas | Dawsonville | Decatur | Doraville | Douglasville | Duluth | Dunwoody | East Point | Ellenwood | Fairburn | Fayetteville | Flowery Branch | Forest Park | Gainesville | Grayson | Hampton | Hapeville | Hiram | Jasper | Johns Creek | Jonesboro | Kennesaw | Lawrenceville | Lilburn | Lithia Springs | Lithonia | Locust Grove | Loganville | Mableton | Marietta | Mcdonough | Milton | Newnan | Peachtree City | Peachtree Corners | Powder Springs | Riverdale | Rockmart | Rome | Roswell | Sandy Springs | Savannah | Smyrna | Snellville | Social Circle | Statham | Stockbridge | Stone Mountain | Sugar Hill | Suwanee | Talking Rock | Tucker | Union City | Villa Rica | Waleska | White | Winder | Woodstock | Zebulon

Blog author image

John Thomas

Hi, I'm John Thomas, and I am a full-time/full-service Realtor® at eXp Realty in Atlanta Georgia. I was born in Chicago, grew up in Elmhurst. I attended York High School and Loras College. I have a B....

Latest Blog Posts

Why Due Diligence Is Real Estate Lingo You Need To Know

After a long, grueling search, including several overheated bidding wars, Jim and Claire found the home of their dreams. They were ecstatic when their offer was accepted and the transaction

Read More

Which Renovations Will Boost My Home Value The Most

Of the many questions we field from homeowners thinking of selling their homes, the most frequent starts with “What’s it worth?” Of course they’re referring to their home’s value, but

Read More

Is A Starter Home Right For You

When you’re looking for the right home you might find yourself with an endless sequence of choices. House or condo? Suburban or city center? But there is one particular choice that bothers a lot

Read More


It is exciting to go to open houses and dream of the possibilities a new home brings. Going to open houses is crucial to finding the right home. The next time you take a tour of a home, keep these

Read More