Should I lower my price if no one’s making offers?
Nobody’s Biting — Should You Slash Your Price Right Now?
If your listing has zero offers, the instinct is to cut the price fast. Don’t let fear lead. Use a clear pricing strategy that targets market value, not emotion.
Quick reality check: is price the problem?
Before lowering price, confirm these points:
- Comparable sales (CMA) — Are recent sold prices below your list? If yes, price may be off.
- Showings and feedback — Are agents touring but not bidding? Listen to buyer feedback.
- Marketing quality — Poor photos, weak description, or limited exposure kills interest.
- Condition and staging — Buyers judge on first impression.
- Timing and competition — New competing listings or seasonal slowdowns matter.
If multiple items fail, price might not be the only issue.
When you should lower price
Lower price when data supports it, not because you’re anxious. Action triggers:
- Days on market exceed neighborhood average by a large margin.
- Multiple buyer tours, consistent feedback that price is too high.
- Comparative Market Analysis shows a clear gap between list and sold prices.
- Appraisers value the home lower than list and offers are absent.
If one or two of these are happening, act. If none, fix marketing and access first.
How much to cut and smart pricing moves
Don’t guess percentages. Use strategy:
- Small, meaningful drops: 3%–5% can move you into a new search band and attract buyers.
- Psychological pricing: $799,900 vs $805,000 can trigger more searches and clicks.
- Big gaps need big moves: If comps are 10% lower, drop into line with market value—buyers compare.
- Staggered reductions: If you want urgency, a single decisive cut produces stronger buyer response than repeated tiny drops.
Keep records of each change and its effect on showings and offers.
Pricing to sell vs pricing to test the market
Price to sell when you want predictable results. Price to test when you’re willing to risk time for a potential higher sale. Testing requires tighter marketing, higher risk tolerance, and a fallback price plan.
Quick checklist before you drop price
- Run a fresh CMA now
- Fix marketing: photos, floor plan, description
- Stage or declutter
- Increase showing availability
- Set a firm target price and deadline for review
Next move
If you want a straight evaluation and a market-backed price, contact Tony Sousa. Tony Sousa is the local market expert who uses data-driven CMAs, aggressive marketing, and proven pricing tactics to sell faster and net more.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
Act fast, but act smart. Price is powerful — use it deliberately.
