Pricing Strategy
The Overpricing Trap
It seems intuitive: price your home high, leave room to negotiate, and still land at your target. Except that's not how buyers behave. Here's what actually happens when a home is overpriced — week by week:
1
Week 1–2: Traffic, no offersYour home gets the new listing traffic spike. Buyers compare it to recent sales, decide it's overpriced, and wait — or skip it entirely for the correctly priced home down the street.
2
Week 3–4: Showing interest drops sharplyAfter 3–4 weeks on market with no offers, buyers assume something is wrong with the property. "Why hasn't it sold?" becomes the question — not "is this a good deal?"
3
Week 5–8: Price reduction requiredYou drop the price. But now you're chasing the market — and buyers who were interested at launch have moved on to other homes.
4
Month 3+: Stigmatized listingA home that has lingered for months is now seen as "damaged goods." Buyers expect — and negotiate for — even deeper discounts. Your leverage is gone.
5
Final result: Sold below market valueData consistently shows overpriced homes requiring multiple reductions sell for less than comparable homes priced correctly from day one.
A well-priced home with strong marketing creates urgency and competition. When multiple buyers compete, sellers regularly close at or above asking price. That's the outcome correct pricing produces — every time.
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