How to Avoid Overpricing Your Boise Real Estate

The most critical step in preparing to market a home is determining the listing price. All sellers want to realize the highest possible return from their property. It is obvious that pricing a property too low cannot provide the highest return; it is less obvious, but true, that pricing a property too high will also produce less than the best return. The right price produces the best return.


  1. Image titled Avoid Overpricing Your Boise Real Estate Step 1
    Avoid the temptation to "test the market" by initially listing your home at a high price and lowering it later if necessary. A property receives its fullest exposure in the first three to five weeks on the market. The best buyers for any property are those choice prospects who will see a property during those first weeks. If it does not appear to be a good value, they will decide not to buy, and it is rare that such buyers return to a property later even if the price is reduced. Thus, the person who tests the market may turn away the best of his potential market.
  2. Image titled Avoid Overpricing Your Boise Real Estate Step 2
    Avoid the desire to believe that your home will sell at a higher price - especially when the market provides evidence that the price is too high. This may cause you to be unwilling to reduce the price. Or, what is worse, you may turn down an offer that is low relative to the asking price, but which in fact is the best offer that will be received. In an extreme example, a seller whose house was listed at $600,000 turned down an early offer of $450,000; a year and a half later the house sold only after the asking price was reduced to $395,000. The overpriced house stays on the market, and statistics from the Multiple Listing Service indicate that the longer a house is on the market, the lower the selling price in relation to the asking price.
  3. Image titled Avoid Overpricing Your Boise Real Estate Step 3
    Base your price on evidence. Pricing a home is part art, part science. Like science, the pricing process should be based on evidence: the prices paid for comparable properties in recent sales. Since no two homes are exactly alike, however, the evidence must be evaluated and a judgment reached.
  4. Image titled Avoid Overpricing Your Boise Real Estate Step 4
    Find a listing agent you trust and take their advice. Because each of us has a great deal of emotional attachment to our own home, the judgment of professional agents who can take a detached view is vital. The right price produces the best return.


  • There are many excellent and trustworthy Boise Real Estate Agents. Look for an agent who's only role is to ensure that you get an extraordinary experience and will help you easily, quickly and safely reach the next chapter of your life.
  • Pricing your home at the right price will produce the best return.


  • There are also non-monetary costs. An unsold house prevents the owner from proceeding with whatever plans led to the decision to sell: purchase of a different home, moving from the area, consolidating households, liquidating an estate, concluding a divorce. The costs of deferred personal plans cannot be measured, but they should still be kept in mind when pricing a home.

Article Info

Categories: Real Estate