Hi Dave,
We’re getting ready to sell our home and need advice on how to set the price. I am sure you have heard this question before, but is it okay to start at a higher price in the chance that we may get someone who agrees to buy it for that?
Thanks,
— Mike and Julie, Grand Junction
Mike and Julie,
This is a great question—and trust me, you’re not the only ones who think about trying this approach! It’s completely natural to want to get the most you possibly can for your home. But when it comes to pricing, there really is an art and a science, and starting too high can do more harm than good.
In today’s market, your home’s asking price matters more than ever. Interest rates have cooled buyer enthusiasm, and buyers are closely monitoring prices. Unlike a few years ago, when homes could fly off the market even if they were priced ambitiously, today’s buyers are more cautious and willing to wait for the right home at the right price.
Think of it this way: the first few weeks your home is on the market are like opening night on Broadway. That’s when your listing is new, fresh, and gets the most attention online and in person. If you start too high, you risk missing out on serious buyers who might see your home but decide it’s out of their budget or not worth the price. They may never return to look again, even if you later lower the price.
Buyers today are savvy. Thanks to online tools and apps, they know what comparable homes in your neighborhood have sold for, what’s currently listed, and how long those homes have been sitting on the market. If your home feels overpriced, it can quickly get labeled as “stale,” which often leads to more price cuts down the road—and ironically, you might end up selling for less than if you’d priced it fairly from the start.
Another thing to keep in mind: pricing high doesn’t usually attract the right buyers. It can actually shrink your buyer pool because buyers searching online often set maximum price filters. If your home is priced over those thresholds, even by a small amount, you might never appear in their searches.
On the flip side, pricing your home competitively creates excitement. It can draw more buyers to see it, which increases the chances of getting multiple offers and possibly even selling for over asking. That initial buzz is incredibly valuable and almost impossible to recreate down the road. If you miss it.....you miss it.
Ultimately, the best strategy is to work closely with your real estate agent to set a price that reflects the true market value of your home. Your agent will help analyze recent sales, current competition, and market trends so you’re positioned to sell quickly and for the best possible price.
So yes, it’s tempting to “just try” a higher price—but the data and my experience show it's easy for that approach to backfire. Price your home right from the start, make a strong first impression, and you’ll have the best shot at a smooth, successful sale.
Dave Kimbrough
The Kimbrough Team – RE/MAX 4000
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