I'd heard a lot about the popularity of Craigslist. A wonderful free online classified service. Everything including the kitchen sink is there for a price. So, being naturally curious, I tried a posting. I decided to get rid of the kids bed. It was one of those loft things, with the desk and bookshelf built in. It was astonishing how much stuff they had crammed into it. It came with a matching dresser. I previewed my competition. There were several similar or identical units.
New, it costs close to $1100 with the dresser and mirror. Mine was not new anymore. It was not new when I got it 2 years ago. I got a great deal. I decided someone else should benefit from the great deal I had gotten. Taking into account, its age, normal wear and tear, and my need to dispose of it ina timely manner I priced my unit to sell fast at $100 Sounds like a Real Estate deal now doesn't it? Within minutes of posting the first response came in. Followed by an onslaught of others. They were pouring in faster than I could type responses to them. Of course each of the responses has my business card attached as a signature line.
People were literally banging down the door of my email to get a shot at this "Great Deal". Remember when it was like that in Real Estate? Well, I honored my promise to sell it to the first lady who responded. It wasn't until the late evening hours her poor husband discovered he had to drive nearly an hour away after a grueling day at work to retrieve her prize... the bedroom set for her son. He was just about to blow it off, when out comes the little boy to "Thank you Daddy for my new bed" .
As he loaded the minivan to the rafters, tied the beds on to the roof rails of the van and began the long careful crawl home, that my husband realized the "power of pricing".
In a market where it seems more people are leaving than staying, being aware of the competition and being willing to have the lowest price to achieve a fast sale does have a benefit. Results. The objective was to sell the bed-set quickly. Objective accomplished. It didn't matter what it cost new. what mattered was being the lowest price would sell the bed in the fastest amount of time. Seller's in St. Cloud, Florida where I am from, have learned to adapt to the market changes. Many have realized that time does have a value. The better we can price their home, the faster they are likely to get it sold. So what is it worth? Only what someone is willing to pay.
Good luck and sell well
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