If your home is for sale, it needs to be priced correctly, not at an oddball number like $399,999. It all boils down to price bracketing.
Today, I want to talk about price bracketing.
It drives me nuts to see how all these real estate brokers price their houses in the market. Wal-Mart uses a pricing system where they price everything at $9.99. Some brokers took that strategy into the real estate market, so we’ll see homes priced at $399,985. It’s a mistake to price your house like that.
Instead, we use price bracketing.
For example, let’s say your house is worth roughly $400,000. If you priced your home at $405,900, you’d be making a mistake. The buyer who might have paid you the most amount of money or even over list price never saw your home because they stopped looking at houses at $400,000.
Most people get approved up to even numbers. In the $300,000 to $500,000 range, they usually get approved up to $325,000, $425,000, or $525,000. If you priced your home at $399,999, that would also be a mistake because of all the buyers searching for homes from $400,000 to $450,000.
I don’t know why agents are pricing homes at $399,999 or other oddball numbers, because that’s not how buyers search for homes online.
If you want expert advice and want to learn how to price your property to sell, just give me a call or send me an email. I would be happy to help you!