The Dangers of Over/Underpricing Your Home

Every seller wants a quick sale for the most money…and every buyer wants a bargain. Pricing your home too low can raise questions in buyers mind just as much as overpricing can drive potential buyers to purchase another property. Finding the sweet spot involves some research and it needs to be based on realistic expectations and current market trends. Here are some things to keep in mind to get the most money for your home, while also not pricing yourself out of the market: 

Current Market Trends

 Statistics show that home sellers who work with professional real estate agents get more for their houses than those who sell on their own. Let your agent help you set a realistic market price based on what is happening in your area such as what is the average days on the market, is your home is the most active price range…did you know there are markets within markets? Your agent does. They also know that supply and demand play a huge role in the sale of your home. 


Potential buyers compare house prices the same way they do when purchasing any product. Don’t underestimate the power of the internet when a buyer is researching a fair deal on their home price. When it comes time to negotiate an offer, solid comparables are invaluable to justify your pricing. What you paid for the home might not be relevant in the market that we’re in now.  

Preparation and Staging

Take a walk through your house starting from the front door, are there things that you have not noticed before, like that peeling paint above your door? That weird smell by the entryway? Selling chances improve dramatically when the house is in top condition, especially when in a buyer’s market (which is where we are in Red Deer and Central Alberta) Make your house stand out from the competition and ask your real estate agent for their advice to make your home appealing to your target market. 

 A lot of consumers have the impression that the only time to sell your house is in the spring, and while the sales go up in the spring, so too do the number of listings. If you pay attention to the sales to listings ratio, you will see that it stays steady throughout the year. Winter selling months mean fewer buyers but also less competition. 

Want to know what your house is worth in this market? Get in touch with Roxann here