Yesterday's Price Is No Longer Today's Price

By Phillip M. Rigsby | Global Real Estate Advisor | Premier Sotheby's International Realty

If you've been thinking about selling your Naples home, there's something important you need to hear, and I say this with all the respect in the world for what your home means to you.

The market has shifted. And the price that made sense six months ago may not be the price that gets your home sold today.

Why Sellers Are Getting It Wrong

Most sellers come to the table with a number already in their head. It's usually based on one of four things:

What they still owe on the mortgage
What they've spent on improvements over the years
What a neighbor sold for six months ago
What they hope to walk away with

Here's the problem: none of those things reflect what today's buyers are willing to pay. The market doesn't care about your renovation budget or your neighbor's lucky timing. It only cares about right now.

The Naples Market Has Changed

Inventory is up. Homes are sitting longer. And buyers, especially in a luxury market like Naples, have more options than they've had in years.

That shift in leverage matters. When buyers have choices, they get patient. They watch. They wait. And they're paying close attention to which homes are sitting and which ones are moving.

Today's Buyers Are Sophisticated

Here's what I can tell you from working this market every day: when a home is priced right, it moves. Sometimes within days. The buyers who are serious about purchasing in Naples know the market well. They've often been watching for months. They know value when they see it, and they act on it.

But when a home is priced even slightly too high? Those same buyers step back and watch.

They're not making lowball offers anymore. They're waiting for price reductions. And when those reductions come, they often offer even less than the new number, because the extended days on market has already raised a question in their minds: What's wrong with it? Why hasn't it sold?

"Building In Margin" Doesn't Work Anymore

There's an old school strategy some sellers still believe in. Price high, leave room to negotiate, let the buyer feel like they're getting a deal.

In today's Naples market, that strategy is costing sellers money. Buyers don't bite on inflated prices. They simply move on to the next well-priced home. And the longer your home sits, the more it costs you, in carrying costs, in perception, and in final sale price.

The First Two Weeks Are Everything

The first two weeks your home is on the market are your best two weeks. That is when buyer interest peaks, you have the most showings, and the highest probability of receiving an offer close to your asking price.

Miss that window with an inflated price, and you're playing catch-up for the rest of the listing period.

Strategic Pricing: A Different Way to Think About It

In some cases, the smartest move in today's market isn't just pricing at comps. It's pricing 3 to 5 percent below recent comparable sales. Not because your home is worth less, but because that slight edge is what creates urgency and competition. Multiple buyers paying attention to the same home is the closest thing to the best possible outcome for a seller right now.

The Formula That Works

Right pricing plus strong presentation creates momentum. The wrong price creates resistance, and resistance is very hard to recover from once it sets in.

As your advisor, my job is to help you think through pricing strategy, presentation, and timing with clear eyes and current data. Not to tell you what you want to hear, but to position you for the best possible outcome.