Tips for Home Sellers
Welcome! Each day we post a small selling tip that will
help you develop the mindset for getting your home sold.
Tip for August 18th, 2017:
Get more mileage with the asking price you select.
When buyers see a house advertised, as an example, as being in the “230s”, they expect the price to be at the top end (just under $240,000). Therefore, if you’ve set your asking price to say, $232,500, advertise it as being in the 230s. Then, when the buyers call or come to the open house, they will be pleasantly surprised when they find out it’s actually less than they thought it would be.
This concept can be used for higher priced homes but staying within a $10,000 increment loses its significance as prices escalate. Here, this tactic is effective when referring to a home advertised, as an example, in the upper $600s, where the actual price can be $670,000 or $680,000–still significantly lower than the “expected” $699,000. Yet, this advertised price would still attract the exact same buyers–whether the home’s actual asking price is $670,000 or $699,000.
When prospective buyers discover that the actual asking price is lower than they thought it would be, this produces an immediate positive feeling about the property.
You’ll enjoy some subtle, yet astute, pricing suggestions in the PRICE step that will help give you a pricing edge and ones that your agent should be using if you're listed.