Why Your First Offer Might Be Your Best — and the Cost of Overpricing Your Home

Why Your First Offer Might Be Your Best — and the Cost of Overpricing Your Home

Every seller wants to get top dollar. It’s completely natural.
But here’s what most don’t realize: the longer a home sits on the market, the less it’s worth in buyers’ eyes.

Let me share a real story that still makes my stomach turn.

The Seller Who Chased $20K and Lost Over $160K

Earlier last year, I met with homeowners whose property had expired after 4½ months on the market. They originally listed for $865,000, then dropped to $824,900 before their contract ran out.

When we sat down, I told them the truth: based on market data, buyer behavior, and condition, their home was realistically worth $700K–$720K. I recommended we “test” at $725K for a short period, watch the first weekend’s activity, and strongly entertain any offer above $700K within the first 10 showings or two weeks.

They agreed. We did everything right — professional photography, cinematic video, Matterport 3D tour, full digital marketing rollout.

Then, the day before launch, the seller called:

“List it for $775,000, or I’ll hire an agent who will.”

I told them, respectfully, that was a terrible idea — and explained exactly why. They didn’t want to hear it. So we listed at $775K on February 7.

Within a week, we reduced to $750K. Not long after, we received a $700K offer from a qualified buyer. I urged them to take it.
They refused.

“We’ll never sell this home for $700K.”

And they were right — they never did.

Thirty-three days later, they dropped the price to $700K.
Then $675K on April 5th.
By April 15th, we pulled the listing.

Six months later, the seller called me back, ready to truly listen.
We relisted for $575K and sold for $540K.

That’s the story of the seller who chased $20,000… and lost over $160,000.

The Lesson: Listen to the Market — Early

The first 10–14 days your home is listed are the most powerful. That’s when you’ll see your most serious, motivated buyers — the ones who are watching daily and ready to write an offer.

When you overprice, you lose that energy. You start chasing the market down instead of staying ahead of it.

As the saying goes in real estate:

“Your first offer is usually your best offer.”

Not because it’s magic — but because it’s made by the buyer most motivated and most confident in your home’s value today. Every week that follows, your listing looks older, your leverage weakens, and the offers (if any) get lower.

What Smart Sellers Do Differently

• They price with the market, not against it.

• They listen to data, not emotion.

• They hire agents who tell them the truth — not the number they want to hear.

Today, I can point to four homes currently on the market where the sellers chose agents who told them a higher number instead of the truth. All four are still sitting, unsold. And since then, the market has softened even more.

Final Thought

If you’re thinking about selling, you deserve an agent who will tell you the truth — on day one and every day we’re listed. My job is to help you get the most the market will give you, not to promise a number that will never come.

Your best opportunity is often your first one. Let’s make sure you don’t miss it.

Thinking about selling in Sarasota or Manatee County? Get an honest pricing strategy that works in today’s market.
Request your free home value consultation https://www.thepepperteam.com/home_value