Ditch the 9s When Pricing Your Charlotte Real Estate
This is a great article that recently appeared here on Active Rain. This great re-blog feature allows to repost something we have seen into our own blog so others can also enjoy reading. Here is something for you!
Ditch the 9s When Pricing Your Charlotte Real Estate
Most, if not all, Charlotte real estate buyers start with an Internet property search. Even buyers who are working with real estate agents start the weed-out process via the World Wide Web.
Because real estate has such a strong virtual presence these days, smart internet marketing (including price setting) is an absolute must for selling your home quickly. Here are a few pricing techniques to maximize the number of potential buyers who find your home when they search for Charlotte real estate online:
The theory of the 9s - Most real estate search engines have parameters that filter listings based on $25,000 or $50,000 price blocks. For instance, you can search for houses valued $150,000-$200,000 or $200,000-$250,000. Many sellers don’t seem to take this into account. Instead, properties are listed using the same marketing techniques that grocery stores use to sell you a gallon of milk — they use a lot of 9s in the pricing to make it look less expensive. However, today’s buyers aren’t going to be fooled by that system.
- Spanning markets - While you might think listing your house for $399,900 will make buyers see your home as a bargain, you might actually be losing out on a lot of interested buyers. When buyers search for houses from $400,000-$450,000, your property won’t show up, so you’d be better off upping the price a little to $400,000. Then you’ll expand your potential buyer base because it will show up in property searches priced $350,000-$400,000 AND searches priced $400,000-$450,000, thus capturing TWO pools of buyers rather than eliminiating one altogether--and with only $100 in your price!
- Pros and cons of under-pricing your home - If you’ve priced your property somewhere in the middle, like at $309,000, common sense might tell you that lowering the price $9,000 to price it at $300,000 would be undervaluing it. However, getting many more buyers through the door will certainly help your property sell faster. While I do not recommend purposely under-pricing your home, if you did happen to undervalue it, buyers will notice and you might end up with a multiple-offer situation allowing you to get even more from your property.
Don’t resort to out-dated, discount pricing marketing tricks that might actually be hurting your chances of a fast sale at top dollar.
If you need help pricing your Charlotte real estate, I can help. Call me today at or email me for more information.
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