Members: 112,881 - 2,779 Online Now
 

I wondered if it make sense when pricing a house to take into account the parameters used on most real estate search sites and MLS. would property priced at $299,995 get seen by more Web shoppers and Buyers than one priced at $300,000? what do you think?

CONTACT ME for assistance with RICHMOND REAL ESTATE

Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of Virginia

By the way...if you know someone who is interested in buying or selling real estate in the Richmond Virginia area and surrounding counties, please call me with their name and phone number. Thank you!

 

 

5 Comments on Is $299,995 A Better Price for Your Home Than $300,000?

If I am searching for homes in the price range of $250,000 to $300,000 I will see your home with either price and your home would be probably one of the nicer homes in that price range.  If I am searching for homes in the $300,000 to $400,000 range I will only see your home if it is priced at $300,000 and it would be the most reasonable home in that price range.   If you price the home at $299,900 you have cut out a whole group of home searchers.   We are selling homes not soup!  JMO

10/11/2007 05:43 AM by Wayne Long (Columbus Ga Real Estate, LLC - Fort Benning - Phenix City )


I think the $299 price is better. To comment on Wayne's perspctive, he says that at $300, it will also fall in the search for the people looking for $300 to $400. My experience has been that if someone is looking in the 300 to 400 range, that they are probably not going to buy one for $300.

10/11/2007 06:41 AM by Al Maxwell - Real Estate Agent - (Coldwell Banker)


I have never understood the $X99,XXX rationale. It is an attempt to copy consumer store retail pricing, where supposedly "$2.95" is perceived by consumers as "only two dollars!" So it's an attempt to make the listing at $299,000 be perceived as if "It's only $200,000!" That's frankly ludicrous--it simply assumes buyers are stupid. 

First, hey---it doesn't work in the grocery store, folks. It is a pricing strategy way past its prime, if it ever had one. And when applied in real estate, not only is it frankly ludicrous---who do you think you're fooling by $100,000 when you price at $399,000 rather than $400,000---but it has two additional problems:

1 - It does eliminate the property from a search range that begins just a hundred, a thousand, or five thousand above the "retail gimmick" price.

2 - In the search range in which it will be found, it positions your home as the highest or one of the highest priced properties in the range. If you believe that buyers think that the asking price stated is important, then you're putting yourself at the least desirable point in the search results: The highest priced.

10/11/2007 06:45 AM by David Stewart (Real Estate One)


I would price it at 300k; depending on what competition you have.  I agree with the comment that homes priced at xx9,999 or xx9,995 is just a gimmick that buyers don't really go for.

Good luck.

10/11/2007 07:29 AM by James Downing - REALTORĀ® - Washington DC Real Estate (Coldwell Banker Residential Brokerage)


Price the house for what the value is not what you think someone searching the MLS will look for.  I search in even numbers and your house will fall in the range.  However if you don't have loads of good pictures there is a good chance that my buyers and I are going to pass it by no matter what the price!

10/11/2007 07:30 AM by Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World)


This blog does not allow anonymous comments

 
Real Estate Agent: Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate (RE/MAX Commonwealth)
Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
Richmond, VA
More about me…
RE/MAX Commonwealth

Office Phone: (804) 288-5000
Cell Phone: (804) 243-0605
Email Me
A place for sharing my thoughts, opinions,Information, discussion, comments, experience, questions and to learn from the feedback of others. mostly about real estate in and around the Richmond, Virginia area. However, almost anything else that catches my fancy can and will be included!



Links

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find VA real estate agents and Richmond real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved