When selling a home, there’s a huge lie that almost everyone believes. Estate agents, online property listings, even your well-meaning friends and family—they all repeat it like it’s the absolute truth.
And if you believe it? Well, it could cost you thousands.
So, what is this big lie?
Let me tell you.
The BIGGEST Lie About Selling Your Home
“If you price your home high, you’ll have room to negotiate and get the best price.”
Sounds logical, right? Start high, and buyers will haggle you down to something reasonable. But here’s the truth: overpricing your home is one of the worst mistakes you can make.
It doesn’t just slow down your sale—it could actually make you lose money in the long run.
Let me show you why.
1. Overpricing Kills Your First Impression and The Biggest lie about selling a home
The first few weeks after listing your home are critical. This is when your property is fresh, new to the market, and getting the most attention from potential buyers.
But if your asking price is too high, buyers won’t even bother booking a viewing.
Think About It This Way:
Imagine two homes on the same street. Both are similar in size and condition. One is listed for £300,000, the other for £325,000.
Which one do you think buyers will rush to view?
Buyers compare properties—and if yours is overpriced, it will sit on the market while other homes sell first.
The longer it sits, the worse it looks.
And once a home sits unsold for too long, estate agents and buyers start treating it as a stale listing, which means fewer inquiries, fewer viewings, and ultimately a lower final sale price.
2. The Longer Your Home Sits, the Harder It Is to Sell
If your home has been on the market for months, buyers will start to wonder what’s wrong with it.
- “Why hasn’t anyone bought it yet?”
- “Maybe there’s something wrong with it.”
- “It’s been on for ages—they must be desperate to sell.”
And what happens when buyers sense desperation? They make lowball offers.
Overpricing at the start often leads to price reductions later, which makes buyers think they can bargain even harder.
So, trying to sell for more could result in selling for less than if you had priced it right in the first place.
The Psychological Effect of a Price Drop
Once you drop your asking price, it sends a clear message: you misjudged the market. One of the biggest lies about selling your home is that you can always reduce the price later without consequences—buyers will wait and watch, expecting further reductions, making it harder for you to get the offers you need.
Case Study: The Danger of a Stale Listing When Selling a Home
Imagine a seller listing their home for £350,000 when similar homes are selling for £320,000. After three months, with no offers, they reduce the price to £325,000. But by then, buyers have already dismissed the listing and are now considering fresher, newer options. Even at a fairer price, interest is low, and the seller eventually sells for £315,000—less than if they had priced it correctly from the start.
3. You Might Scare Off Serious Buyers When Selling a Home
Most buyers search for homes within a set budget when selling a home. If your home is worth £300,000 but you list it for £325,000, you might miss out on buyers looking in the right price range.
For example:
A buyer searching in the £275,000 – £300,000 range won’t even see your listing.
The buyers who do see it (at £325,000) will expect more—and be disappointed when they view it.
By pricing correctly from the start, you attract more serious buyers who are willing to make an offer.
The “Search Filter” Problem
Most property search websites like Rightmove and Zoopla allow buyers to set a price range. If you list your home above the logical range, you might miss out on being seen by the people who are most likely to buy.
The Power of a Well-Priced Listing when selling a home
well-priced home attracts attention, generates interest, and makes buyers feel they need to act quickly before someone else does. One of the biggest lies about selling your home is that overpricing gives you an advantage—when in reality, creating urgency through competitive pricing leads to faster sales at better prices.
4. Buyers Know the Market—You Can’t Trick Them
Gone are the days when buyers relied solely on estate agents to tell them a property’s worth. With sites like Rightmove and Zoopla, buyers now have instant access to:
- Recent sold prices for similar homes
- Market trends in your area
- How long have homes been on the market
So if you overprice, buyers will know.
And when buyers think a home is overpriced, they do one of two things:
- Ignore it completely (and wait for you to drop the price)
- Use it as a comparison to make another property look like a bargain
Either way, you lose.
The Role of Mortgage Valuations when selling a home
Even if you find a buyer willing to overpay, their mortgage lender will conduct a valuation. If the property is deemed overpriced, the lender may not approve the loan, leading to delays or collapsed sales—one of the biggest lies about selling your home is that you can set any price and still secure a smooth transaction when selling a home.
5. The Right Price Attracts Multiple Offers (Which Means More Money for You!)
Here’s what really gets you the best price:
Pricing your home competitively to create demand.
When a property is priced correctly, more buyers become interested. And when multiple buyers are interested, you’re in a much stronger position to receive multiple offers when selling a home.
Real Example:
Let’s say your home is realistically worth £300,000.
- If you list it at £325,000, you might get one interested buyer (who negotiates you down).
- If you list it at £300,000, you could get several interested buyers—creating a bidding war.
More competition means buyers bid against each other, potentially pushing the final sale price above asking.
The “Underpricing” Strategy
Some sellers even choose to slightly underprice their home to generate more offers when selling a home. This can lead to bidding wars, which drive the price up beyond what you might have achieved with an overpriced listing.
6. “Testing the Market” Can Backfire When Selling a Home
Some sellers think, “I’ll try a high price first, and if it doesn’t sell, I’ll lower it later.”
Bad idea.
Once your home is on the market for too long, people stop paying attention to it.
Even if you later drop the price, it won’t have the same fresh appeal as a new listing. Many buyers will have already seen it and moved on.
The “Days on Market” Effect
Buyers often ask, “How long has this property been on the market?” If the answer is months, it creates doubt and hesitation.
So, What’s the RIGHT Way to Price Your Home?
The key to selling quickly and for the best price is to get the price right from the start.
How to Find the Perfect Asking Price:
- Look at sold prices – Check what similar homes have sold for (not just asking prices).
- Ask multiple estate agents – But don’t just pick the one who gives the highest valuation.
- Consider current market conditions – Is demand high or low in your area?
- Be realistic – A fair price will attract more interest and lead to stronger offers.
Final Thoughts – Don’t Fall for the Pricing Trap
The biggest lie in home-selling is that overpricing gives you room to negotiate.
The reality?
- It scares off buyers
- It makes your home sit on the market longer
- It can actually make you lose money
The best way to sell your home quickly and for the most money is to price it competitively from day one.