Pricing is the single biggest lever in your home sale. Too high and you help your competition; too low and you donate equity. The goal is to position your Richmond Hill home where the right buyers see it, feel the value, and move quickly.
Why Pricing Matters More Than Ever
The first 7–10 days set the tone: momentum, showings, and offer quality.
Online filters mean your price determines who even sees your listing.
Correct pricing multiplies the impact of staging, photos, and marketing.
Step 1: Know Your True Market (Not Just List Prices)
A proper CMA (Comparative Market Analysis) looks at:
Solds (last 60–120 days): what buyers actually paid
Actives & Pending: your real competition right now
Micro-factors: school catchments, lot size, renos, street noise, parking, finishes
Trend line: days on market and list-to-sale ratios in your segment
Output: a tight price range that reflects how buyers value homes like yours today.
Step 2: Map Buyer Search Brackets (Price Bands)
Most buyers search in price bands (e.g., $1.3–$1.5M, $1.5–$1.8M). Two smart approaches:
Round-number visibility: Pricing at a bracket (e.g., $1,500,000) shows in searches with min $1.5M and max $1.5M.
Below-threshold magnet: Pricing just under (e.g., $1,499,900) captures buyers capped below $1.5M and creates a value signal.
Which wins? It depends on where demand is thickest in your CMA. I’ll model both to choose the stronger pool.
Step 3: Choose Your Pricing Path
Pick one strategy based on your timeline, condition, and competition:
A) Market-Value Listing
Price within the CMA range to attract qualified buyers quickly.
Balanced approach; avoids chasing the market down.
B) Competition Strategy (Slightly Under Market)
List a touch under to drive showings and potential multiple offers.
Works best for well-staged, move-in-ready homes in high-demand pockets.
C) Aspirational Pricing (Unique Properties Only)
For rare lots, views, or top-tier renos.
Requires patience, premium marketing, and clear value proof.
Step 4: Launch for Maximum Momentum
Staging + Pro Media ready before day one
MLS live + property webpage + social/ad push the same day
Open house in the first weekend to convert online interest into visits
Agent follow-ups & retargeting ads to keep warm buyers engaged
The best offers often come when exposure peaks in week one.
Step 5: Read the Signals (First 7–10 Days)
Watch these indicators to validate price:
Online saves & inquiries vs. similar listings
Showing volume from target buyer profiles
Agent feedback on condition and price perception
If traffic is thin compared to comps, fix marketing gaps first; if marketing is strong but interest is light, price is the lever.
Step 6: When & How to Adjust
If buyers say “great house, but priced high,” consider a price improvement aligned to the next search band.
Move to a round number (or just below it) to unlock a new audience.
Announce the adjustment with fresh creatives to re-enter buyers’ feeds.
Step 7: Appraisal & Financing Checkpoints
Be mindful of lender appraisal at the offer price.
Pricing far above the CMA can risk appraisal gaps and failed closings.
Clean, supportable pricing keeps deals smooth.
Step 8: Common Pricing Mistakes to Avoid
Basing price on what you “need” or a neighbor’s list price
Ignoring condition gaps vs. renovated comps
“Testing high” and chasing the market with multiple reductions
Skipping professional staging and photos, then blaming price
Bottom Line
Smart pricing isn’t a guess — it’s a data-backed strategy. Position your home where the right buyers can find it, fall in love, and compete.
Thinking about selling your Richmond Hill home?
Get a free, no-obligation Pricing Strategy & Home Evaluation — including your CMA, recommended price band, and a launch plan designed to maximize your result.
👉 Book your free consult: https://morirezaei.ca/home-evaluation