What’s the biggest mistake most Toronto real estate sellers make?
Sellers tend to believe the right buyer will magically materialize with deep pockets or willing to stretch financially. In reality, the buyer pool at any price point is smaller than most people think. And waiting isn’t neutral: it costs time, momentum, and often, credibility.
They don’t think like buyers.
Most sellers don’t realize the market is a living, dynamic system that responds to buyer behaviour in real time. Because they’re stuck in “seller’s brain,” their sense of value, urgency, and strategy often works against them.
Here are four common traps:
The Endowment Effect
The endowment effect is the term behavioural economics uses to describe the tendency to overvalue what you already own. Most homeowners think their place is worth more because of their upgrades, design, décor and emotional attachment. Buyers, on the other hand, are comparing options and doing math.
Savvy sellers ask:
- What else could a buyer get in Toronto for the same price?
- What are the reasons someone wouldn’t pay this much for this property?
The Fallacy of the Magical Buyer
Sellers tend to believe the right buyer will magically materialize with deep pockets or willing to stretch financially. In reality, the buyer pool at any price point is smaller than most people think. And waiting isn’t neutral: it costs time, momentum, and often, credibility.Cautious by nature and quick to move on, buyers look for value and red flags. Savvy sellers get this and position their home with that in mind.
Disconnected from Market Reality
Want to skewer your strategy? Make assumptions based on headlines, word of mouth and stale data.
Savvy sellers stay grounded in the present. They work with real estate agents who are attuned to micro market shifts and track buyer sentiment.
*Not Using Price as a Strategic Tool*
Many sellers treat price as a statement of worth or as a starting point for negotiation. That’s not how the best outcomes are achieved.
Savvy sellers know:
- Positioning through price is a strategic tool to drive urgency, activity and offers
- The best buyers come early, not late
- Buyers skip over overpriced listings entirely.
- Pricing is not about “leaving room for negotiation.” It’s about positioning the property for maximum exposure and optimal impression.
A great real estate advisor helps you step out of seller mode and see things through the eyes of today’s buyers. That clarity can make all the difference.
Credit to Steve Shull who inspired this post