Every seller aims to sell their home quickly, for the highest price, and with minimal hassle. You're likely in the same boat.

One of the biggest factors that can affect your success is the asking price of your home. Getting the pricing right is one of the most important steps in the selling process.

How can you tell if your asking price is too high? Here are four indicators that might explain why potential buyers are looking elsewhere—and how relying on your real estate agent can help you make the necessary adjustments.

1. You’re Not Getting Many Showings or Offers

A clear sign that your house might be overpriced is when there are few showings. If it's been on the market for several weeks and you've only had a handful of potential buyers come to look at it—or, even more concerning, no offers at all—it likely means the price isn't aligned with what buyers are willing to pay. Buyers who have been searching for a while are quick to notice homes that seem too expensive and may dismiss them right away.

Your real estate agent is there to guide you, so rely on their expertise. They can suggest strategies to attract more buyers, such as possibly lowering the price.

2. Buyers Have Consistent Negative Feedback after Showings

If the feedback from showings isn’t positive, it might be time to make some adjustments. Understanding how buyers perceive your home is crucial, and their comments can offer valuable insights. If multiple buyers mention that your home seems overpriced in comparison to similar properties they've toured, it’s a good idea to rethink your pricing approach.

Your agent will collect and review the feedback for you, helping you understand how your house compares in the current market. They can also recommend specific improvements or staging adjustments that could better support your asking price, or suggest a price that fits what today’s buyers are looking for. As the National Association of Realtors (NAR) points out:

““Based on all the data gathered, agents may make adjustments to the initial price recommendation. This could involve adjusting for market conditions, property uniqueness, or other factors that may impact the property’s value.”
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— National Association of Realtors (NAR)

3. It’s Been on the Market for Too Long

When there's limited interest in a property, it tends to sit on the market without attracting serious offers. The longer it stays listed, the more it can raise concerns for potential buyers, who might start questioning if there's something wrong with it. With increasing inventory in today’s market, having a listing that lingers can make your home feel stale, ultimately making it even tougher to sell.

Your real estate agent can provide insight into how quickly homes in your area are selling and share what strategies are effective for other sellers. This way, you can discuss if there’s anything you’d like to change in your approach.

““Check with your agent about the average number of days homes spend on the market in your area. If your listing has been up significantly longer than average, that may be a sign to reduce the price.”
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— Bankrate

4. Your Neighbor’s House Sold Without an Issue

If you notice that homes like yours in the neighborhood are selling quickly while yours isn’t, it’s a good indication that something might be wrong. This could be due to a few factors, such as needing some upgrades, having outdated features, or being in a less desirable location. It’s also possible that your home is simply priced too high.

Your agent will keep you informed about your competition and any adjustments you might need to make to enhance your home's market position. They can suggest minor updates that could boost your home's attractiveness or help you tweak your strategy based on the current market conditions.

Bottom Line

Pricing a home accurately involves both creativity and analysis. It’s essential to really grasp the market trends and what buyers are thinking. If your home isn’t attracting interest, your agent can be an invaluable resource to help you determine your next steps.