A recent survey<\/strong><\/a> from Realtor.com<\/em> shows 81% of home sellers believe they\u2019ll get their asking price or more. However, the actual sales data reveals a growing gap between what sellers expect and buyers’ willingness to pay.<\/p>\n\n\n\n An annual report<\/strong><\/a> from the National Association of Realtors <\/em>(NAR) shows 44% of recently sold homes went for less than the asking price. And 1 in 3 sellers had to cut their price at least once before the home sold.<\/p>\n\n\n\n It\u2019s a sign that expectations may be a little out of step with today\u2019s reality.<\/p>\n\n\n\n Check out the graph below. It uses data from Redfin<\/em> to show that asking prices (blue line<\/em>) are higher than actual sales prices (green line<\/em>) by a broader and wider margin:<\/p>\n\n\n\n This tells you something important: not all buyers are willing to pay what many sellers are asking. That doesn\u2019t mean you can\u2019t sell your house fast in Chicago for a great price, but it does mean you need to start with a price that reflects what people are willing to pay in today\u2019s market.<\/p>\n\n\n\n Pricing your house high initially may seem like a smart move, so you have more room to negotiate. However, the reality is that an overpriced home can linger on the market, deterring buyers.<\/p>\n\n\n\n Buyers are smart. And when they see a house that\u2019s been sitting for a while, they start to wonder what\u2019s wrong with it. That can lead to fewer showings, less interest, and eventually, a price cut to re-ignite attention. As Realtor.com<\/em> explains<\/strong><\/a>:<\/p>\n\n\n\n \u201cBy getting the right price early on, you can increase the odds that buyers will be interested in the home. In turn, this decreases the chances the home will sit on the market for a lengthier timeline, also reducing the odds you\u2019ll need to lower the listing price.\u201d<\/em><\/p>\n\n\n\n The longer a house sits, the harder it can be to sell.<\/p>\n\n\n\n To avoid making this mistake, it\u2019s essential to lean on an agent who knows what\u2019s happening locally when you set your asking price.<\/p>\n\n\n\n Your agent will look at recent local sales, buyer trends, and inventory levels to find that pricing sweet spot for your neighborhood, because it\u2019s going to be different based on where you live.<\/p>\n\n\n\n And here\u2019s something else to keep in mind: Home prices<\/strong><\/a> have climbed more than 57%<\/strong><\/a> over the past five years. So, even if you price a bit below the number you had your sights set on, you\u2019ll likely still be in a great position profit-wise.<\/p>\n\n\n\n With a local real estate agent\u2019s help, you\u2019ll attract more attention, avoid seeing your house sit on the market too long, and maximize your chances of getting a strong offer.<\/p>\n\n\n\n In today\u2019s market, the right price works. As Mike Simonsen, Founder of Altos Research<\/em>, explains<\/strong><\/a>:<\/p>\n\n\n\n \u201c. . . the best properties, well priced, are selling quickly in most of the country.\u201d<\/em><\/p>\n\n\n\n![\"sellers](\"https:\/\/kmrealtytammyja-work.colibriwp.com\/kmrealtygroupllc\/wp-content\/uploads\/2025\/05\/Sellers-Want-More-Than-Buyers-Are-Willing-To-Pay-1024x576.png\")
<\/figure>\n\n\n\nWhat Happens When You Overprice Your House?<\/strong><\/h2>\n\n\n\n
You Still Have a Great Opportunity \u2013 If You Price Your House Right<\/strong><\/h2>\n\n\n\n
Bottom Line: Experts Say<\/strong><\/h3>\n\n\n\n