Shaun Sturgess has issued a note of caution10:05, 01 Jun 2026An expert has shared why going for gold on your house price can leave you out of pocket.‌Many homeowners believe aiming high on their asking price gives them room to negotiate later. But according to mortgage expert Shaun Sturgess, overpricing a property could often backfire badly and ultimately leave sellers worse off.‌In a slower and more price-sensitive housing market, buyers are becoming increasingly cautious about homes that appear overpriced compared to similar properties nearby. While some sellers hope ambitious pricing will maximise their return, Mr Sturgess said it frequently created the opposite outcome.‌Mr Sturgess, director at Swansea-based Sturgess Mortgage Solutions, said: “Overpricing rarely gets you more. More often, it gets you stuck.“A home listed above market value tends to sit there while sensibly priced properties around it sell. The longer it lingers, the more buyers start assuming something is wrong with it.”According to Mr Sturgess, the first few weeks after a property goes live are often the most important part of the entire sales process. That is when listings typically receive the highest levels of online traffic, the strongest buyer engagement and the greatest number of serious enquiries.‌He said: “The first two to three weeks are everything. That is when you get the most views and the most genuine interest. If you pitch too high and waste that initial momentum, it can be very difficult to recover later.”One of the biggest problems sellers face after overpricing is eventually having to reduce the asking price publicly. While many homeowners see a price reduction as a normal part of negotiation, Mr Sturgess warned it could actually weaken a seller’s position considerably.‌He said: “Once a property gets a ‘reduced’ tag attached to it, buyers immediately start smelling weakness. They often come in with even lower offers than they would have made originally because they assume the seller is now desperate or under pressure.”In many cases, he believes sellers who overprice initially can ultimately end up accepting less than they may have achieved had the property been marketed realistically from the beginning. Mortgage valuations can also create major complications for overpriced homes.Even if a buyer agrees to pay an inflated figure, the lender’s surveyor must still independently assess whether the property is worth the agreed price before approving the mortgage. If the valuation comes in lower than expected, known as a “down valuation”, buyers may suddenly need a larger deposit or the entire deal may collapse altogether.‌Mr Sturgess said: “Inflated valuations can completely sink a sale. A buyer might love the property and agree the price, but if the lender values it lower, the numbers no longer work and months can end up wasted for everyone involved.”He also warned sellers to be cautious about estate agents promising unrealistically high valuations purely to win instructions.Article continues belowMr Sturgess added: “Some agents are more interested in winning the instruction than actually achieving the sale. Plenty will flatter vendors with wildly optimistic figures just to secure a contract, particularly larger corporate agencies working to sales targets.”According to Mr Sturgess, realistic pricing could often generate far stronger competition between buyers.He said: “If a property is priced properly, or even slightly keenly, it can create real momentum. You get more viewings, stronger competition and sometimes offers at or above asking price. Going for gold from day one often achieves the exact opposite.”