Effective marketing is only as good as the price it promotes.

A property is never more valuable to a buyer than on the day it’s listed, spurred by the urgency to act quickly for fear of losing out. However, as days turn into weeks, that urgency fades—and so does the property’s perceived value.

Across the country, days on market are rising and, as expected, so are price reductions. Price reductions serve as a correction to initial overpricing (usually), aiming to bait interest and rekindle competition. However, they often shift power to the buyer, signaling a reactive rather than proactive strategy.

For instance, a home valued at $1.5M was listed at $1.7M, sat on the market, and had its price reduced by $100K. It eventually got an offer for $1.3M, and the seller had to negotiate up to $1.4M. Had it been priced to sell from the start—luring competing parties—the seller’s outcome might’ve been different.

Effective marketing is only as good as the price it promotes.