Overpricing Kills Deals: Why Realism Sells Homes and Fantasy Costs You

The Cost of Overpricing: Why Listening to the Market Matters in Real Estate

In real estate, first impressions matter more than ever. Yet time and time again, properties sit unsold for months, sometimes years not because there's no market demand, but because the home was priced unrealistically from the start.

Sellers often believe their home is worth more due to emotional attachment or past upgrades. While understandable, the market operates on what buyers are willing to pay today, not what a seller hopes to get.

Overpricing: A Costly Mistake

When a property enters the market at an inflated price:

• It misses the crucial first wave of serious buyers.
• It gets fewer showings and less engagement.
• It becomes "stale" and stigmatized buyers begin to wonder what’s wrong with it?
• Eventually, it may sell well below market value, or not at all.

In short, time on the market kills value. And the longer a property lingers unsold, the harder it becomes to create urgency later, even if the price is eventually reduced.

Sellers: Your Job is to Listen to the Market

The real estate market speaks clearly. If a property isn’t getting views or offers, it’s almost always a sign of pricing disconnect. You’re not competing against what you think your home is worth—you’re competing against other listings that are priced to sell.

Pricing your home correctly upfront is not about underselling. It’s about positioning your property to attract real buyers, generate strong interest, and possibly create a competitive bidding environment. That’s how you get top value.

Agents: Price Counselling is Your Duty, Not a Favor

Far too many agents overpromise on price to win listings, hoping to “test the market” or secure a mandate. This approach is not only unprofessional, it’s damaging.

Taking on a listing just for the sake of numbers, without offering honest price guidance, does more harm than good:

• It wastes the client’s time and money.
• It weakens your credibility.
• It undermines the industry as a whole.

As agents, we’re entrusted with our clients’ most valuable assets. Our role is to guide, educate, and tell the truth, even if it’s uncomfortable. That’s how we serve with integrity and achieve real results.

Get it Right the First Time

A home priced accurately and marketed correctly can sell within days or weeks. A home priced based on wishful thinking can sit idle for years.

If you’re a seller, listen to the data. If you’re an agent, have the tough conversations upfront. In this market, clarity, strategy, and realism win every time.

From your No B/S Agent,

Thomas Potgieter