It sounds reasonable: price your property below market value, attract more buyers, then let the bidding push it up. The problem? Buyers don’t think that way.
When people see a lower asking price, they anchor their expectations to that number. Even if they believe the home is worth more, they’ll still offer closer to the lower end of the range.
This happens because every buyer will form two perceptions. Firstly, what they believe the property is worth (its value perception) and secondly, what they think they can buy it for (its purchase perception). If your home’s price is too low, you’re reducing that second perception. Suddenly, buyers think they can “get it cheap,” and you’re negotiating from the back foot.
A lower price might fill an open home, but it won’t fill your bank account. The goal isn’t to attract more buyers – it’s to attract the right buyer, at the right price.
At Keyline Realty, we help clients position their homes confidently, not cautiously. Our clear pricing strategies protect your property’s true value while generating genuine buyer interest. This results in competition that drives prices up, not expectations down.
If you want to sell for the best result, start by resisting the temptation to go low.
Thinking of selling? Contact Keyline Realty today for your complimentary copy of the 10 Property Pitfalls Booklet – your guide to avoiding costly mistakes and selling your home for what it’s truly worth.