Selling Your Home? Drop the Nines, Realtor Advises

While many Realtors continue to use 9’s in their pricing — setting asking prices of $499,999 or $599,000, for instance — to give the impression that buyers are paying less. This strategy actually can minimize exposure, given that buyers typically use search engines to look for properties. The search engines group properties in 0’s, 25’s, 50s, and 75’s, so Realtors would be wise to revise their pricing strategies accordingly. For example, a property with a price of $399,000 will be seen only by buyers searching for homes up to $400,000, while homes priced at $400,000 are seen by those searching under and over that price. Sellers should understand that buyers set the value of the home, and they should be more concerned about pricing the property correctly the first time. | Read More