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$1 Pricing Mistake That Can Cost Home Sellers Thousands!
Bret Chance
Integrity, hard work, do the right thing, problem-solving, professionalism, driven, teacher. Those are words that describe Bret Chance...
Integrity, hard work, do the right thing, problem-solving, professionalism, driven, teacher. Those are words that describe Bret Chance...
We see it all the time.
Homes for sale priced at $299,999, $349,999, $499,999.
This pricing psychology may work well in retail where the customer gets excited to only pay $399 for a TV, instead of $400.
But this same psychology doesn't work as well when it comes to selling houses. Just go to Realtor.com, or any home search site and look at how the pricing search is set up. It's in price band increments, typically $50,000-$100,000.
So, what happens to the house priced at $299,999 when you're searching from $300,000-$350,000? It doesn't get seen in the search results.
Not only that, but it just went to the top of the budget for the people that are searching from $250,000-$300,000. Meaning that it may take some stretching and negotiating for them to be able to afford it. Whereas, if it were priced at $300,000, it just might be the best deal for the person searching from $300,000-$350,000 - and well within their budget.
This is just ONE of the mistakes people can make when pricing their home to sell for the highest price.
That $1 could wind up costing thousands!