How do you price your properties? Do you carefully look at pricing as a strategic way to place your property?
I recently sent a market analysis to a seller with a recommend price of $224,800 for his property. He then called me and asked "Why not list the property at $225,000"? Well, here are the reasons why:
1. Listing the property at $225,000 could be a HUGE $1 mistake! Why? Well, because of the property search page on the many sites on which we syndicate our listings. On some sites, if a buyer enters, "under $225,000" for their price range, properties priced at $224,999 will show up, but those priced at $225,000 will not.
2. Look at the "active" listings you are competing with in the MLS. They are ALL priced at $225,000 and $224,900. By pricing the property at $224,800, we are placing the property "under" all of the others and thus, make ourselves look like the better deal on paper.
3. The #8 is good Feng Shui - and in this market, we need all the help we can get!
Pricing a property shouldn't be just some arbitrary number, remember $1 can make a huge difference!
Tina in Virginia
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Tina Merritt and her Associates. can be reached at email: tina@nestrealtygroup.com or 757-287-6338.
Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia. In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.
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