A seller on Surfrider Way told me last month she wanted to list at $1.15M because she "really wanted $1.05M and figured buyers would talk her down." That math sounds logical. It's also the fastest way to sit on the market for 45 days and end up selling for less than $1.05M.
Here's what actually happens. Buyers and their agents filter by price. If comparable homes in South Oceanside are closing between $1M and $1.08M, a listing at $1.15M doesn't show up in most searches set to that range. You're invisible to the exact people who should be fighting over your house. The ones who do see it at $1.15M are comparing you to nicer homes in that bracket, and yours loses.
I'd rather price a home to create competition than price it to leave room for a concession nobody asked for.
That doesn't mean underpricing as a gimmick. I'm not talking about listing at $899K hoping for a bidding war. That works in some Bay Area micro-markets. In Oceanside, it mostly confuses people. What I mean is landing right at market value, maybe just under, so your listing generates four or five showings in the first weekend instead of one every ten days.
The negotiation part comes later, and it looks different than most sellers expect. Right now, based on what I'm seeing in MLS data from the last 90 days, buyers in Oceanside are asking for repairs or credits more than they're asking for price reductions. A $6,000 credit toward closing costs feels smaller to a seller than dropping the price $6,000, but to the buyer it's the same money. Understanding that difference gives you leverage.
Two things I tell every seller before we go live:
- Pick your number based on closed sales within a half mile and the last 60 days. Not Zillow. Not what your neighbor says they got. - Decide before the first offer what you're willing to give on. Credits, timeline, repairs. Know your flexibility so you're not making emotional calls under pressure.
Prep and pricing get all the attention. The negotiation piece is where deals actually fall apart or come together, and most sellers walk in without a plan.
If you want to talk through your specific situation, I'm at mayra@blacklabelrealty.com. Even if you're six months out from listing.