Three Pricing Mistakes That Can Hurt a Listing

A strong pricing strategy is not about choosing the highest or lowest number. It is about positioning the property where informed buyers will recognize its value and feel confident acting.

1. Pricing From Emotion Instead of Evidence

What you paid, spent on renovations or need for your next move does not determine today’s market value.

Buyers respond to current evidence, including:

• Recent comparable sales
• Similar homes currently listed
• Listings that failed to sell
• Location, condition and property type
• Current inventory and buyer demand

Renovations can improve value, but they do not always return their full cost. Buyers may value a better layout, updated systems or a renovated kitchen, while assigning less value to highly personal finishes.

Pricing should begin with market evidence and then account for what makes your home meaningfully different.

2. Starting High to “Leave Room” to Negotiate

Buyers search within price ranges. If your home is priced too high, it may be compared with larger, newer or better-renovated properties—or missed entirely by the buyers most likely to purchase it.

A new listing usually receives its strongest attention early. If buyers do not see enough value at the asking price, that interest can fade. Reducing the price later may create activity, but it does not fully recreate the original launch.

The longer a home remains available, the more likely buyers are to question why it has not sold and whether there is room for a larger negotiation.

3. Listing Low Without a Clear Strategy

Underpricing can be a legitimate strategy in B.C., particularly when inventory is limited and there is strong demand for that type of property. But it does not guarantee multiple offers or a sale above asking.

Some buyers may avoid the listing if they believe the advertised price is not one the seller would seriously consider. If competition does not materialize, increasing the price or relaunching the home can also be difficult.

Sellers should review their listing agreement carefully. Depending on its terms, declining a qualifying full-price offer could have commission implications—even if the goal was to generate a higher price.

Before deliberately listing low, sellers should understand:

• Why the strategy suits the current market
• What level of interest is realistically expected
• Whether they would accept the listed price
• What the next step will be if multiple offers do not arrive

The Right Price Starts With a Plan

Before listing, ask:

• What are buyers comparing my home with?
• What have the most relevant properties actually sold for?
• Are we trying to attract one strong offer or create competition?
• What will we do if the market responds differently than expected?
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No REALTOR® can guarantee the final sale price. What they should provide is clear market evidence, an honest recommendation and a strategy for more than one possible outcome.

The goal is to choose a price that supports your objectives while making sense to today’s buyers.