The Real Consequences of Overvaluing
Overpricing doesn’t just delay a sale, it can wreck it completely.
Wolverhampton properties that sit on the market too long become “stale”. Buyers start asking questions. Why hasn’t it sold? What’s wrong with it? Are there problems with the neighbours? Is there a structural issue?
Even when the price is eventually reduced to a realistic level, the damage is done. It now competes with fresher listings that appear more desirable, even if yours is the better home.
And here’s the painful truth: in many cases, many Wolverhampton homes that were originally overpriced end up selling for less than if they had been marketed correctly in the first place.
The Risk of a Sale Falling Through
Let’s say you do get a buyer eventually for your Wolverhampton home after dropping your asking price after three or four months.
Did you know that how long it takes to find a buyer can directly affect your chances of moving home?
According to independent data from Denton House Research and TwentyEA:
- Homes that go under offer (i.e. sale agreed) within 25 days of coming onto the market have a 94% success rate of subsequently exchanging contracts & completing (i.e. move home).
- Homes that sit on the market for over 100 days before agreeing a sale, the success rate of that sale agreed home subsequently getting to exchange & completion (i.e. move home) drops to 56%.
If that doesn’t scream “price it right from the start”, I don’t know what does.
Why Do Wolverhampton Estate Agents Still Overvalue?
If overvaluing causes so many issues, why do some agents keep doing it?
Simple: pressure. Some corporate and larger estate agencies measure success not by what they sell, but by how many homes they put onto the market. There are even some estate agency models where staff are bonused just for signing someone up to list their home for sale, regardless of the outcome.
When that’s the goal, accuracy takes a back seat. Telling sellers what they want to hear becomes more profitable to their commission cheque, than telling them the truth.
This “listing at all costs” culture has created a false economy. Homes get listed high, then chipped down over months, often ending in failure. Meanwhile, the agent has fulfilled their quota, and the homeowner is left disappointed.
Four Ways to Avoid the Overpricing Trap
So how do you protect yourself as a Wolverhampton homeowner?
- Get more than one opinion
Don’t rely on a single valuation. Invite two or three Wolverhampton agents round, and if one quote seems suspiciously high, ask for evidence. Ask what percentage of the homes they list, do the homeowners subsequently move home (i.e. sell, exchange & complete).
- Do your homework
Look at what Wolverhampton homes similar to yours have sold for recently, not what they are listed at now. Portals like Rightmove, Zoopla, and OnTheMarket let you check “sold subject to contract” properties. Over the past two years, the average sale price agreed has consistently ranged between 98.7% and 99.1% of the asking price at the time the offer was accepted (not the original asking price). This highlights how realistic pricing draws in committed buyers.
- Understand Wolverhampton market trends
Prices rose rapidly in 2021 and early 2022, but we’re not in that climate anymore. Don’t base your expectations on a market that no longer exists.
If you're considering selling, take a moment to check the property portals for homes like yours in your area. Compare how many are currently for sale versus how many are marked as ‘Sold Subject to Contract’ as this ratio reveals the market’s direction. If over 40% are Sold STC, it’s a sellers’ market. If it drops below 30%, buyers hold the upper hand. Also, follow our Wolverhampton property blog for weekly updates on our local property market.
- Choose a Wolverhampton estate agent with integrity
A good estate agent will back up their valuation with evidence. They will explain their reasoning, and focus on the end result, a completed sale, not just listing the property.
Don’t Fall for the Fantasy Asking Price of your Wolverhampton Home
Overvaluing may feel like a harmless gamble. It’s not. It’s the quickest way to burn time, lose buyers, and even end up with less than if you’d priced realistically from the start.
The Wolverhampton property market has spoken: thousands of homes have failed to sell in the last 5 years, not because of lack of demand, but because they were priced out of it. This isn’t about doom mongering, it’s about telling the truth, so Wolverhampton home sellers have a fighting chance of success.
Whether you're upsizing, downsizing or relocating entirely, make sure you get the advice you need, not just the advice you want to hear.
Final Thoughts for Wolverhampton Homeowners
You only get one chance to make a first impression in the property market. Price it right and you attract serious buyers quickly. Get it wrong and your property can linger, lose appeal, and eventually fall by the wayside.
6,386 Wolverhampton homeowners have experienced that frustration since 2020. Don’t become the next statistic.
If you're thinking about moving and want an honest, evidence backed opinion on your Wolverhampton home's value, with no fluff, no pressure and no nonsense, we’d be delighted to help.
