Special offer

Keep The Change

By
Real Estate Broker/Owner with Homes By Cross, Inc.

The listing was priced at $243,156.

If our MLS could provide for cents, it probably would have an additional .78

I don’t know why this type of precision is necessary unless it is a payoff amount or a short sale.  Many builders subscribe to this pricing strategy. So do some old "Sweat Hog" graduates.

Frankly I got more questions from my buyer about the price than the photos of the interior. Personally I don’t encourage my clients to use prime numbers for a list price. (Or something that looks like one). As a marketing strategy it may catch the attention of some buyers, but I think it portrays a reluctance to negotiation…. To each their own.

No, the price didn’t kill the chances of it being seen. It just helped my clients in the elimination process. And unfortunately for the seller, it was eliminated.

So my question is: If you have used this pricing strategy in the past or are presently using it, How effective is it considering the present market?

 

www.homesbycross.com

 

 

 

 

 

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Comments(5)

JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I never use this type of strategy in the pricing of a house and I never have. I go for a round number after the comparison is done.

Jun 15, 2009 11:49 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

JL - I don't use Walmart pricing stratigies either. Thank you for round numbers

Jun 16, 2009 01:20 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Dedra - My sentiments exactly. :)

Jun 16, 2009 01:21 AM
Terry Chenier
Homelife Glenayre Realty - Mission, BC

Claude,

I did this strategy years ago with some success; now it looks gimmicky.

Jun 16, 2009 02:10 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Terry -This was an old Floyd Wickman trick that seems a bit outdated in todays market.

Jun 16, 2009 03:25 AM