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Overpricing a home at listing can significantly reduce its chances of selling, as data shows properties receive nearly four times more online attention in their first week compared to a month later. This "debut effect" is critical because price reductions often signal desperation to buyers, leading to lower offers. The most effective strategy for sellers is to price accurately from the start based on comparable market analysis, rather than testing a high price with plans to reduce it later.
When a property is newly activated on the Multiple Listing Service (MLS) and real estate websites, it triggers alerts to buyers who have set up search criteria. A 2010 analysis of over 15,650 listings across major U.S. markets, including Seattle, San Francisco, and Boston, found that a listing receives its peak web traffic during the first seven days. This initial surge is estimated to be nearly four times higher than the traffic the same property receives after 30 days on the market. This is the period when serious, active buyers are most engaged. As the listing ages, it moves down search results and is seen by fewer motivated purchasers.
The strategy of "testing the market" with a high price carries two significant risks. First, subsequent price reductions can signal to buyers that the seller is motivated or desperate, often inviting lower offers. Second, and more importantly, it wastes the property's most valuable marketing asset: its debut. By the time a seller considers the first price reduction—often a month or more after listing—the peak window of buyer attention has already closed. Even a price cut or re-listing only generates less than half the initial traffic. While some bargain hunters set filters for older listings, this represents a much smaller pool of buyers; only about one in eight searches actively filter for non-new listings.
An accurate initial price is based on a Comparative Market Analysis (CMA), a professional assessment of recently sold homes similar to the subject property in size, location, and features. Based on our experience assessment, hiring a real estate agent with a proven track record of selling homes quickly and for a high percentage of the original list price is more effective than choosing an agent based solely on who suggests the highest potential selling price. The goal is to generate competitive interest immediately, which can lead to multiple offers and a final sale price that meets or exceeds market value.
To maximize your home's sale potential, focus on an accurate initial price based on a CMA from a reputable agent. This strategy captures peak buyer interest early and helps avoid the negative perception associated with future price reductions.
