Last week, I was sitting with clients who were getting ready to list their home. Like many sellers, they had a specific number in mind based on what they’d seen other homes listed for in their neighborhood. But here’s the thing about pricing your home: the market always dictates the value, regardless of what we might want it to be.
When it comes to selling your home, one of the most crucial decisions you’ll make is setting the right price. While it’s tempting to price high and “leave room for negotiation,” this strategy often backfires in ways that many sellers don’t expect.
The truth is, you can price your house at any number you want, but you’ll only get offers when you’re within striking distance of the true market value. Market value isn’t just a number we pull out of thin air – it’s determined by what buyers are actually willing to pay based on recent comparable sales, current market conditions, and your home’s specific features.
When you overprice your home, you’ll experience one of two scenarios:
Here’s something interesting I’ve noticed in my years of selling homes: when a home is significantly overpriced, buyers often won’t even make an offer. They don’t want to risk insulting the seller with what they consider a fair market price, especially when that price might be substantially below the asking price.
To determine the right price for your home, we need to look at several key factors:
Remember, the goal isn’t just to price your home – it’s to price it strategically to attract serious buyers who are ready to make fair offers.
Overpricing doesn’t just mean fewer showings – it can actually cost you money in the long run. Homes that sit on the market for too long often end up selling for less than they would have if priced correctly from the start. Buyers begin to wonder what’s wrong with the property, and that extended market time can become a negotiating point.
If you’re thinking about selling your home, here’s what I recommend:
Remember, pricing your home isn’t about what you want to get – it’s about what the market is willing to pay. As I always tell my clients: “Don’t stress, just assess.” Let the market guide your pricing strategy, and you’ll be much more likely to achieve a successful sale.
If you have questions about pricing your home in the Quebec market, don’t be shy to reach out. I’m here to help you understand your home’s true market value and develop a pricing strategy that works.
🏠 Ready to Price Your Home Right?
At Peter Thompson Real Estate, we specialize in helping Quebec homeowners achieve successful sales through strategic pricing and expert market knowledge. Our comprehensive approach includes:
Peter graduated from Lasalle College in hospitality and spent 13 years managing the infamous Chateau du Lac, where he built a reputation for leadership and forming genuine, trusting relationships.
Peter’s real estate career is built on a foundation of honesty, trust, and tireless effort. He takes pride in going above and beyond to ensure his clients feel supported and confident throughout their journey. He regularly provides timeline market insights on his local service areas of Saint-Lazare, Hudson, Vaudreuil, and Rigaud, but has expanded to service clients across the Vaudreuil-Soulanges and West Island regions.
Outside of work, Peter’s world revolves around his wife and two young boys, who inspire him every day. A die-hard Montreal Canadiens fan, Peter never misses a chance to cheer on the Habs or crack a dad joke to keep everyone smiling.
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