Price high first, or launch closer to the likely sale price?

[zane_tools]

Two agents have valued my Montreal coastal home quite differently. The higher proposal is obviously appealing, but similar listings that launched ambitiously seem to have sat for roughly 29 days before cutting. Did starting high protect anyone’s result, or just waste the strongest first-week interest? I care more about completed sales than an agent’s pitch. What would you verify first?

 

[EasyCanvas]

I’d ask both agents for the recent completed sales they used, then make them explain every adjustment for condition and exact neighbourhood boundaries. The higher number is only persuasive if comparable homes actually closed near it. Also look at withdrawn listings, not just active ones; otherwise ambitious prices can create a misleading picture of the market.

 

[FirstBrick]

How different are the two valuations, and do the proposed marketing timelines differ? A modest gap may simply reflect negotiation strategy. A large one needs much stronger evidence. I’d also want to know whether new-listing volume is rising, because launching high is riskier when buyers know several alternatives are about to appear.

 

[teaAndBridge]

I wouldn’t assume first-week interest is always the strongest interest. A distinctive coastal home may have a narrower buyer pool, so the right buyer might take longer to appear. Cutting after 29 days is not automatically proof that the original strategy failed. The useful comparison is eventual sale price and terms against correctly priced homes, including whether buyer financing caused delays or renegotiation.

 

[local_slate]

Seller motivation matters here. If timing is important, I’d favour a defensible launch price rather than spending a month testing the higher agent’s optimism. If there is no urgency, some exposure above the likely sale price may be tolerable—but decide the reduction date and amount before listing. Otherwise each quiet week tends to produce a new excuse.

 

[local_slate]

One more practical step: ask each agent to put the comparable completed sales, active competition, withdrawn stock and recommended price-cut timing into the same format. Then remove any properties outside the true neighbourhood or in materially different condition. If the higher valuation still holds up after that, it deserves consideration; if it depends mainly on current asking prices, I’d be cautious.