The Hardest Conversation in Real Estate: Pricing Your Home Right

Every seller I've ever worked with has asked me some version of the same question: "Heather, what do you think we can get for it?" And every one of them already had a number in mind before I opened my mouth.

That's the thing about pricing. It's never just math. It's the kitchen you renovated, the backyard where your kids grew up, the years of mortgage payments. Your home has a story — and in your heart, that story has a price tag.

But buyers don't pay for your story. They pay for comparable sales.

Why do sellers overprice their homes?

Usually it comes down to three things: emotion, outdated information, or advice that told them what they wanted to hear. Sometimes a well-meaning agent suggests a high number just to win the listing — then comes back three weeks later asking for a price reduction. I've seen it happen over and over.

Here's what I tell my clients: an overpriced listing doesn't just sit there. It actively works against you. The first two weeks on market are when your listing gets the most eyes. Serious buyers see an inflated price and scroll past. By the time you reduce, the excitement is gone — and buyers start wondering what's wrong with the house.

How should I price my home in the GTA?

We start with comparable sales — homes like yours, in your area, sold in the last 90 days. Not what people asked. What buyers actually paid. Then we look at what's sitting on the market right now, because those are your direct competition.

In September 2026, the average GTA home sold for $1,006,409, down about 5% from a year earlier (TRREB Market Watch). That doesn't set your price — your street, your finishes, your condition do — but it tells us which way the wind is blowing.

What happens if I overprice my house?

You chase the market down. A $50,000 reduction after a month of silence rarely brings the buyers back — but pricing it right on day one brings them through the door while the listing is fresh. I've watched well-priced homes go under contract in days while overpriced ones chased the market down for months. That wasn't luck. That was pricing for the market we had, not the market we wished for.

What if my home is worth more than the comparables suggest?

Then we prove it. Superior condition, real upgrades, a lot or location the comps don't have — those are legitimate pricing arguments, and I'll make them loudly. My strategy has always been to stand out on presentation and condition, not to chase distressed prices down. But "worth more" has to be something a buyer — and their appraiser — can see and touch.

The conversation I'll always have with you

I'd rather tell you the truth on day one than tell you "we need to reduce" on day thirty. Pricing your home right isn't about thinking small — it's about respecting what the market will reward. Get who gets you: someone who'll protect your equity with honesty, not flatter you into a stale listing.

Frequently asked questions

How do realtors determine a home's listing price? Through a comparative market analysis: recently sold comparable homes, current competing listings, and adjustments for condition, upgrades, lot, and location.

Is it better to price high and negotiate down? No. Overpriced homes get fewer showings, sit longer, and typically sell for less than if they'd been priced correctly from the start.

How fast do well-priced GTA homes sell? It varies by segment and season, but correctly priced, well-presented homes consistently outperform the market average for days on market.

Can I still get top dollar in a softening market? Yes — presentation, condition, and sharp pricing win in any market. Buyers pay premiums for homes that feel move-in ready.

Heather Harding is a REALTOR® with Real Broker Ontario Ltd., Brokerage, serving Toronto, Etobicoke, Peel, York, Simcoe and the GTA. Thinking about selling? Call or text 647-964-5404 or email propertyhuntwithheather@gmail.com. I do business with everyone that has a pulse.