The biggest mistake I see new agents make is thinking the listing price is the finish line

I've been in real estate for eight years, and I watch new people in my office chase the highest possible listing price like it's the only goal. They brag about getting a seller to agree to list at $50,000 over comps, then the house sits for 90 days and sells for less than it would have if priced right from the start. I just saw a condo in the North End go through this exact cycle last month. The price is the starting gun, not the ribbon you break. You're not doing your client any favors by inflating their hopes; you're setting them up for a price cut and a stale listing that buyers see as damaged goods. How do you convince a seller that a realistic price is actually the stronger move from day one?

3 comments

3 Comments

angelamason1mo ago

What's your go-to line when a seller pushes back and says they want to "test the market" at that higher price? I've found that phrase is a huge red flag, and it's tough to argue against without solid proof. Do you show them the actual data on how overpriced homes end up selling for less, or do you have another way to make it click for them?

cameronb971mo ago

Actually, I've seen the opposite happen a lot. The data from our local MLS shows overpriced homes that sit for 30 days often sell for 3-5% less than if they'd priced right at the start. I pull up a few recent examples from their own neighborhood to show the final sale price versus the first list price. It's hard for them to argue with their neighbor's house selling under value.

williams.sage1d ago

Actually, that data point about 30 days is a bit off in my market. Homes that sit even two weeks often see a price cut to get interest back. Showing them a couple of those quick-cut examples can make the risk feel more real.