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Can using precise numbers such as $325,425 rather than $326,000 get you more money for your listings???

Hello,

Here is a link to an interesting article from the Washington Post. The article describes research that contends that people will pay more for a house if the price does not end in a bunch of zeros!

Here is an excerpt from the article:

"The study concluded that because people are used to precise numbers for items that don't cost much and to round numbers for large amounts, consumers generally and home buyers specifically tend to perceive that a price is smaller if there are digits at the end instead of zeros."

Be sure to read the entire article, it is quite interesting.

Washington Post Article

Hope this helps,

Sara D'Amico

Your Huntersville Realtor

704-287-6488

SaraD@kw.com

www.BuyandSellwithSara.com

Posted by Sara D'Amico on 02/20/2008 08:49 PM

Comments (7)

huntersville realtor, huntersville real estate, sara damico, keller williams, huntersville property search, listing tips

7 Comments on Can using precise numbers such as $325,425 rather than $326,000 get you more money for your listings???

FEB

2008

Interesting Idea. I will try it out on my next listing. Lets see if it works! Aloha

Hi Sara, I may be one of the few that actually took the time and even read the research paper...there was another study done years ago that purchased and taken off the market on marketing with some very revolutionary principles. A advertising company out of Chicago bought the rights and immediately stopped any and all printing of the works. This may fall into a very interesting behavior model. Nice post Sara.

Sara - I've been doing this for a while now, and it is more than just a conversation starter. If 3 competing listings are priced at $349,900, $349,500, and $349,000, my listing will be $348,316. It's all about positioning to be first. Let your sellers pick the last three numbers and suggest they be a combination of their anniversary date, birthday, lucky numbers or house number.

That is very interesting and may be something to try out.

Now you will be able to tell who reads active rain when you see listings price that end in 425

Thanks for sharing.

FEB

2008

Hi Sara, I would agree if we were talking about 19.95 instead of 20.00 but I've tried that with million dollar listings...people still saw them as a million dollars. I'm afraid it may look like we're trying to pull something over on them. I think that totally rounded numbers represents the "perfect" dollar amount they would be happy with but they'll work a bargain. Whatever works for you! Just sell it! Later in the rain~Deb

I see a lot of listings here that end in 8's...supposedly that is lucky and appeals to certain buyers. I guess there are many ways to price a listing.

Does anyone do this and what are the results? The buyers I've worked with just laugh and wonder how the seller came up with that amount. I'll take the laughter if it indeed gets my sellers more $$$.

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