So basically what happened last week, I was sitting with some clients who were ready to list their home, and they asked me, “Pete, what if we price our home a bit higher than market value? We can always reduce it later if needed.” It’s a question I hear often, and I understand the thinking behind it. After all, who wouldn’t want to maximize their return on investment?
But here’s the reality: the market always dictates the value. You can price your house whatever you want, but you will only get offers when you’re within striking distance of the actual market value. When you’re way overpriced, you simply won’t get visits. When you’re a little overpriced, you might still get visits, but no offers will materialize.
When you first list your home, that’s when you get the most attention. Serious buyers are constantly monitoring new listings, and properties typically receive their highest number of views within the first two weeks on the market. Pricing your home correctly from the start ensures you capitalize on this initial wave of interest.
If your home is overpriced during this crucial period, many potential buyers won’t even bother to schedule a viewing. Why? Because they can easily compare your property to similar ones in the area and recognize when something is priced above market value.
One of the most common situations I encounter with overpriced homes is getting lots of visits but no offers. This is actually a clear market signal. When buyers are interested enough to view your property but consistently decide not to make an offer, it usually means they just don’t feel the value is there for what you’re asking.
In many cases, the gap between your asking price and what buyers perceive as fair value might be so significant that they don’t even feel they should make an offer. They either don’t want to insult you or they don’t feel that you’re even close on where they feel the value is and where you feel the value is.
When you eventually reduce your price after sitting on the market too long, buyers often wonder what’s wrong with the property. Instead of seeing a good deal, they might suspect hidden problems or defects that justify the price drop.
Even worse, after a price reduction, you may end up selling for less than you would have if you had priced it correctly from the beginning. Studies consistently show that homes that linger on the market often sell for less than their eventual asking price, while homes priced appropriately from the start frequently sell for closer to (or sometimes above) their listing price.
The ideal pricing strategy puts your home within striking distance of market value—close enough that buyers feel they’re getting fair value, but not so underpriced that you’re leaving money on the table.
In Quebec’s current market conditions, where inventory levels can fluctuate significantly between neighborhoods, understanding your local micro-market is essential. What works for a property in Westmount might not apply to one in Plateau Mont-Royal.
When I work with sellers, we thoroughly analyze recent comparable sales, current competition, pending sales, and market trends specific to your neighborhood. This isn’t just about looking at square footage—it’s about understanding the unique features that buyers value in your specific location.
A proper comparative market analysis (CMA) takes into account:
I often recommend what I call the “three-price strategy” to my clients:
This approach helps you understand the likely range of outcomes and set realistic expectations from the beginning.
Every seller’s circumstances are different. If you have the luxury of time and don’t need to sell quickly, you might have more flexibility in your pricing strategy. But even then, starting too high can be counterproductive.
For someone who has already had an accepted offer on their next home and needs to sell within a certain timeframe, pricing strategically becomes even more critical. In these situations, being within striking distance of market value from day one is essential.
Remember: you can price your house whatever you want, but you will only get offers when you’re within striking distance of market value. An overpriced home doesn’t just sit longer on the market—it often ends up selling for less than it would have if priced correctly from the start.
When it comes to pricing your home, don’t stress—just assess. Work with an experienced real estate professional who understands your local market and can help you set a price that will attract serious buyers and maximize your return.
If you have questions about pricing strategies for your Quebec home, don’t be shy to reach out. Text, email, or give me a call—I’m always here to help you navigate the complexities of the real estate market.
At Peter Thompson Real Estate, we understand the Quebec market from the inside out. Our comprehensive market analysis ensures your home is priced to attract serious buyers while maximizing your return on investment.
Our Pricing Strategy Process Includes:
“I don’t just sell homes—I help families make smart decisions that protect their most valuable asset. Let me show you how strategic pricing leads to better results.” — Peter Thompson
Don’t stress about pricing—let’s assess it together. Contact me for a no-obligation home valuation and pricing strategy session.
Serving the Greater Montreal Area and Quebec regions with personalized, professional real estate expertise since 2005.
“Peter’s pricing strategy helped us sell our Westmount home in just 9 days—for 8% more than we expected. His knowledge of the local market made all the difference.” — Marie & Jean Tremblay
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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