top of page
Search

Let’s Talk About the Price Tag: Why Overpricing Your Home Can Cost You Big

  • Writer: Leigh Ann Stapleton
    Leigh Ann Stapleton
  • Jul 31
  • 3 min read

Updated: Jul 31

Bank of Canada

Here’s some real talk that a lot of sellers don’t want to hear, but need to:

If you overprice your home in this market, you’re setting yourself up for disappointment.


I know your home means a lot to you. You’ve put money, love, time, and memories into it. Maybe you saw what your neighbour sold for last year and thought, “Mine’s worth more.” Maybe someone told you to “start high and see what happens.”


But here’s the truth: we’re not in that kind of market anymore.


Buyers today are smart, cautious, and paying close attention to every dollar because let’s face it, borrowing money is expensive right now.


What’s Really Going On Out There

The Bank of Canada just held interest rates at 2.75%. That’s not low. And while they’ve said they might cut rates again later this year, we’re not there yet. In the meantime, buyers are feeling the pinch.


They’re getting pre-approved and locking in their mortgage rates for 90 to 120 days. It’s called a rate hold, and it gives them a small window to find a home before their approval at that interest rate expires.


These buyers aren’t dragging their feet. They’re serious, but they’re not desperate. If your home is priced properly, they’ll jump on it. If it’s overpriced, they’ll keep scrolling. And when their rate hold is about to run out, they’ll buy the one that makes sense for their budget, not the one that’s “waiting for the right buyer.”


Overpricing Isn’t a Power Move. It’s a Risk

Let’s be honest. You might think pricing high gives you room to negotiate. But what it really does is:


  • Make your listing sit longer than it should

  • Scare off serious buyers

  • Attract lowball offers later when the listing goes stale

  • Make people wonder what’s wrong with your home

  • Eventually force you to reduce the price, possibly below what you could’ve gotten if you priced it right from the beginning


Nobody wants that.


The First Few Weeks Matter Most

When your listing hits the market, it’s fresh. People are watching. Agents are scrolling. Buyers are setting up showings. That first 2 to 3 week window? It’s gold.


If your home is priced right, it gets attention, traffic, and offers.


If it’s priced too high? Crickets.


You start chasing the market instead of leading it. And once the momentum is gone, it’s really hard to get it back.


Choose the Agent Who Tells You the Truth, Not Just What You Want to Hear

There’s always going to be someone out there who will tell you your home is worth more than it is, just to get your listing. That might feel nice at the start, but it doesn’t get you sold. It gets you stuck.


You need someone who’s going to shoot straight with you. Someone who’s done the research, knows the comps, understands today’s buyers, and isn’t afraid to say, “Look, I know this isn’t what you hoped for, but here’s what will actually work.”


That’s not negativity. That’s strategy. That’s someone who’s in your corner.


Here’s the Bottom Line

Your home is special. But it still has to compete in today’s market. The buyers out there right now are running on rate holds and tight budgets. They’re not here for games, they’re looking for value. And they don’t care what you “need to get.” They care what makes sense for them.


Price your home right the first time, and you give yourself the best shot at a fast, clean, top-dollar sale. Price it too high, and you risk weeks or months of stress, frustration, and disappointment.

I’d rather be the one who tells you the truth and helps you get the result you actually want, than someone who gives you false hope and leaves you sitting on the market.


Thinking of selling? Let’s talk. I’ll give you honest advice, a smart strategy, and zero fluff.


Leigh Ann Stapleton

The Property Perfectionist

Home Improvement Expert & REALTOR® at EXIT Realty Strategies



Comments

bottom of page