The dangers of overpricing your home

Overpricing is the most common and most costly mistake sellers make — and it's seductive because it seems low-risk (you can always lower the price later). This episode explains why that logic is flawed in practice: how buyer perception of "stale" listings shifts after 21–30 days on market, how price reductions signal negotiating room to buyers who were waiting, and how the final sale price on overpriced listings typically ends up below what a correctly priced home would have achieved.

Kathleen shares the pattern she's seen consistently in Bergen County: the home that launched at $50,000 over market, sat for 90 days with a price reduction, and ultimately sold for $30,000 below what the initial correct price would have achieved — producing a net loss to the seller of $80,000 and months of unnecessary stress.

The episode ends with how to have the pricing conversation with yourself — separating what you need from the sale from what the market will actually bear, and finding the strategy that achieves your real goal.