Why It’s a Buyer’s Market—and Why Pricing Right Is Everything - Wyatt Poindexter - The Agency Oklahoma

Why It’s a Buyer’s Market—and Why Pricing Right Is Everything

Today’s real estate climate favors buyers. Across markets, inventory is swelling, homes are staying on the market longer, and many sellers are lowering prices to compete. That means pricing smart from the start is essential to stand out and win offers.

1. Set Realistic Expectations with Sellers

Sellers’ personal attachments—memories, upgrades, pride—often don’t align with buyer perception. To ground the conversation:

• Share comparable home sales data so sellers understand real outcomes vs. list prices.

• Explain market dynamics: when supply outpaces demand, buyers gain leverage—homeowners must adjust accordingly.

• Offer three pricing strategies:

  1. Above market—hoping for rare buyers

  2. At market—steady interest

  3. Slightly below market—sparks engagement or multiple offers.

Overpriced listings often linger, attracting skepticism and ultimately selling for less after reductions.

2. Recognize Warning Signs Early

Watch for these signals in the first few weeks:

• Little or no showings often mean the home is priced 7–10% too high.

• Showings without offers, or only low offers, usually indicate a 4–7% overpricing gap.

• Negative or hesitant feedback from agents and buyers is a red flag—use it to guide decisions.

Prolonged time on market can damage buyer perception and reduce final sale price.

3. Optimize Before Reducing Price

Before any adjustment:

• Ensure strong marketing: professional photography, effective listing description, polished MLS presence.

• Improve appeal through staging, decluttering, fresh paint, and tidy landscaping.

• Make the property easy to show—limited availability cuts buyer exposure and interest.

These enhancements often reduce time on market by up to a third and improve sale price by several percent.

4. Timing & Strategy for Price Reductions

⏱️ When to Reevaluate:

• At around 30 days: if activity is low or feedback weak, start a pricing discussion.

• Some agents use benchmarks like “14 days or 14 showings”—whichever comes first triggers review.

🎯 By How Much:

• A 5–10% reduction is typically effective—enough to attract fresh attention without appearing desperate.

📅 When to Publish:

• Deploy price changes mid‑week (for example, Thursday) to hit weekend viewers with the refreshed listing.

5. Guide Sellers Through the Decision

When suggesting a reduction:

1. Present updated data: market comparisons, show activity, buyer feedback.

2. Explain risk of repeated reductions—homes that drop multiple times often close for less than those priced right from the start.

3. Discuss seller motivation—whether a fast sale matters more than maximum price.

Frame the adjustment as strategic repositioning, not a retreat.

6. The Payoff of Smart Pricing

Homes priced strategically from day one tend to:

• Attract more showings

• Receive stronger offers

• Close more quickly

Overpriced listings often pick up stigma, lose visibility, and ultimately sell for less, even after cuts. Smart pricing avoids this pitfall.

Final Takeaways

• The market is tilting toward buyers—inventory up, activity slowing.

• Accurate pricing at launch is critical to avoid stale listing penalties.

• Monitor early activity closely; low showings or poor feedback require action.

• Enhance staging and marketing before considering price shifts.

• Act decisively: reevaluate around 30 days, reduce by 5–10%, preferably Thursday.

• Communicate with respect and clarity, grounding your recommendations in data.

About The Agency Oklahoma

The Agency Oklahoma is a boutique firm with global reach and local expertise. Serving the Oklahoma City metro—including Edmond, Arcadia, Norman, Nichols Hills, Mustang, and Yukon—it’s the first Oklahoma office of the internationally recognized luxury brokerage brand, The Agency (blog.theagencyre.com).

Led by Managing Partners Wyatt Poindexter and Wayne Kirby, the office prides itself on high-end marketing, integrity, and collaboration. They recently surpassed 40 expert agents and are committed to excellence—not recruiting games or profit‑share gimmicks. Instead, The Agency Oklahoma focuses on true client service and global exposure for every listing—no matter the price level (wyattpoindexter.com).

Let’s Connect!

Contact Wyatt Poindexter, Managing Partner, The Agency Oklahoma
Phone: (405) 417‑5466
Email: [email protected]

Serving Oklahoma City and surrounding communities with global tools and boutique care.