09/16/2025
So true
The psychology of overpricing is fascinating.
Sellers think they're being strategic, leaving "negotiation room."
But here's what actually happens:
Day 1-30: Buyers assume you're delusional. They don't even look.
Day 31-60: The few who visit think something's wrong. Why else would it still be available?
Day 61-90: You're now "that house". The one every agent uses as a comparison. "It's priced way better than that place on Oak Street that's been sitting forever."
Day 91+: You're radioactive. Even when you drop the price, buyers wonder what disaster you're hiding.
The longer you sit, the weaker your position becomes.
Meanwhile, the house that priced correctly?
Multiple offers in week one.
Sold above asking by week two.
The seller who "left room" is still explaining to friends why their house is "taking longer in this market."
The market has a memory.
Every day on the market is documented. Every price reduction is public.
Your stubbornness becomes data that buyers use against you.
The irony? You'll eventually sell for less than if you'd priced it right initially.
Those carrying costs and the stress add up to more than you ever would have "negotiated down."
Price it right and let competition drive it up.
Price it wrong and watch isolation drive it down.
The market doesn't negotiate with ego.
It just waits you out.
