Overpricing a home, is one of the most delicate conversations in this job, and it is one that every experienced agent navigates regularly. A seller who has overpriced their home is not being irrational. They are being human, according to Morné Prinsloo | Local Real Estate Agent in Roodepoort and Krugersdorp | REMAX Town and Country.
Prinsloo says the property holds memories, years of maintenance investment, and in many cases it represents the most significant financial asset they have ever owned. "When I tell them the market does not support their number, I am not just discussing a price. I am asking them to recalibrate something they care deeply about. Getting this conversation right without losing the mandate requires data, timing, and honesty delivered with genuine respect," he says.
Why the conversation has to happen before the listing, not after
Prinsloo explains that the most common mistake he sees, is agents who agree with a seller's inflated price to win the mandate, intending to manage the conversation later. This practice, sometimes called buying the listing, is well documented in the South African market and it almost always ends badly for the seller. The property sits on the market, attracts no serious interest in the critical first 30 days when listings receive their highest online visibility, and eventually sells for less than it would have achieved at a correctly priced listing from day one.
"I have a different approach. I address pricing directly and honestly at the mandate appointment, before any agreement is signed. If I cannot get a seller to a realistic price before we list, I will not take the mandate, because a mandate I cannot execute in the seller's best interest is not one I want," he says.
The data does the talking:
The most effective way to tell a seller their property is mispriced is not to tell them directly at all. It is to show them the evidence and let the market speak.
He prepares a detailed comparative market analysis before every listing appointment. He show the seller three categories of information: what similar properties in the suburb have actually sold for in the past 60 to 90 days per Deeds Office and Lightstone data, what is currently listed and at what price, and how long comparable properties took to sell. When a seller can see that three homes with similar specifications in their street sold at R1.65 million, R1.7 million, and R1.68 million over the past quarter, and their asking expectation is R2 million, the gap becomes a fact rather than an opinion.
"I also show them what overpricing actually costs. Properties that enter the market above realistic value and sit for 90 days or more typically achieve between 88 and 92 percent of their final asking price when they eventually sell. A property that enters at the right price typically achieves around 98 percent. In rand terms on a property in the R1.5 million to R2 million range, that difference in outcome can be R100,000 or more. The seller who waited for a higher price often ends up with a lower one," he explains.
How to frame the conversation
Prinsloo never walks into a listing appointment and says the seller's price is wrong. "I walk in and say I want to show them exactly what the market is doing and how we position the property to achieve the best possible outcome. That framing makes the conversation collaborative rather than adversarial.
"I also acknowledge what the property is worth to the seller, because that matters. Then I explain the difference between sentimental value and market value, not in a dismissive way, but honestly. Buyers do not pay for memories. They pay for what comparable homes are selling for right now, in the current market, with the current interest rate environment, and with the current levels of buyer competition," he says.
If a seller still insists on a price the data does not support, he asks for a 30-day trial at the agreed price with a written commitment to review if there are no serious offers within that period. This gives the seller the comfort of trying their number while creating a structured pathway to a correction if the market confirms what the data predicted.
The mandate he wants is the one where the seller trusts his advice. "Getting there requires honesty, not flattery," he says.
Antonie Goosen, principal and founder of Meridian Realty agrees that one of the most difficult conversations estate agents have with sellers is telling them their property is overpriced. In a market where emotions, memories and financial expectations are deeply tied to a home, many sellers interpret pricing feedback as criticism rather than professional guidance.
Goosen says an experienced agents know that pricing conversations must be handled with evidence, patience and empathy if they want to retain the mandate and still position the property correctly for the market.
“Most sellers do not intentionally overprice their homes," he says. “They are often influenced by what neighbours achieved during stronger market conditions, online property estimates, or the amount they still need financially from the sale. The challenge for the agent is helping them understand what today’s buyers are actually willing to pay.”
He explains one of the biggest mistakes agents make is immediately telling sellers their expectations are unrealistic without backing it up with market data. He believes pricing discussions should always be supported by recent comparable sales, current competing stock and actual buyer activity in the area.
“The market always speaks,” he says. “If a property has had multiple show days, strong online views and enquiries, but no offers, the market is sending a message about price.”
He says agents should also explain to sellers that overpricing can ultimately damage the sale outcome rather than improve it. Properties that sit on the market too long often become stale in buyers’ eyes, leading to lower offers later.
“In many cases, the first three to four weeks are when a listing receives the most attention,” says Goosen. “If the pricing is wrong during that critical period, the seller can lose momentum and negotiating power.”
He advises agents to avoid confrontational language and rather position pricing as a strategic process. Instead of saying a property is overpriced, he recommends phrases such as “the market may respond more strongly at this level” or “this is where we believe qualified buyers will engage.”
He also believes regular communication after listing is essential. “The seller must continuously receive feedback from viewings, buyer comments and competing listings. Once they start hearing the same concerns repeatedly, they often become more realistic.”
Goosen says South Africa’s current market conditions have made accurate pricing even more important, especially in areas where stock levels have increased and buyers have become more cautious due to affordability pressures and higher living costs.
“In a balanced or slower market, buyers have options,” he says. “They compare value very carefully. Sellers who enter the market at the correct price from the beginning usually achieve better results and shorter selling periods.”
Ultimately, he says the agent’s responsibility is not simply to secure a mandate, but to give honest advice that protects the seller’s long term outcome.
“A good agent does not just tell a seller what they want to hear,” he says. “They guide them toward a successful sale.”
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
