Why pricing your space too high costs more than you think
“I don't want to leave money on the table by asking too little.”
By Jose Eduardo Hernandez · REALTOR®, KW Commercial · Nov 2026
Asking above the market feels safe. You can always come down. In practice, overpricing often costs more than the extra rent was ever worth.
Here's why. A space priced high gets fewer showings. Fewer showings means fewer offers. The longer it sits, the more tenants assume something is wrong. When the price finally drops, you've lost months of rent, and the listing looks stale.
Run the numbers: if you hold out for a higher rent and it takes an extra six months to lease, how many years of that higher rent does it take to make back six months of nothing? On a five-year lease, it's often longer than the lease itself.
Price your space where recent leases in the area actually closed. Then compete on terms, condition and speed. A good tenant signed sooner is usually worth more than a slightly higher number on paper.
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General information for Illinois owners, buyers and sellers, not legal, tax or lending advice. Every property and lease is different; talk with an attorney, accountant or lender about your situation.