When a condo first hits the market, there’s a short period when it gets something you can’t get back: it’s new. Buyers who have been watching Hillcrest listings see it pop up. Agents send it to their clients. People who have been waiting for the right unit take a look. That initial attention is valuable. One mistake sellers sometimes make is thinking, “Let’s start high. We can always come down later.”

Technically, that’s true. But there’s a downside. If buyers see a new listing and immediately think it’s overpriced, many won’t come back every time the price is reduced. A condo that was brand new a month or two ago can suddenly become the one buyers have already seen online several times. Then the questions start. “How long has this been for sale?” “Why hasn’t it sold?” Has something changed?” “Do you think the seller will take less?”

None of those questions have anything to do with how nice the condo is. That’s why the first few weeks are so important. It doesn’t mean you have to price your home below market value. It means you want to take advantage of that initial burst of attention instead of using it to find out how much buyers won’t pay. There’s another part of this that sellers sometimes overlook: carrying costs.

If your condo costs $900 a month for maintenance, six extra months on the market is $5,400 in maintenance alone. Add taxes, insurance, utilities and other expenses and waiting for an extra $10,000 may not actually put an extra $10,000 in your pocket. Of course, every seller’s situation is different. Someone who isn’t in a hurry may be perfectly comfortable waiting. Another seller may care more about getting the property sold and moving on.

There’s nothing wrong with either approach. The important thing is knowing what you’re doing before you put the property on the market. We’d rather have that conversation at the beginning than six months later after several price reductions.

A good listing strategy isn’t just about picking a price. It’s deciding how you want to sell.