PRICE, PRICE, PRICE!  GET IT RIGHT OR WAIT Some sellers desire to test the market.  Perhaps their motivation for selling is not the greatest or they simply have some time before their drop dead move date.  At any rate, price is generating a lot of buzz.  The Wall Street Journal had a great article, “PRICE FIXING: IN THIS MARKET, SELLING A HOME REQUIRES SAVVY.”  The article points out three distinct philosophies of price.  “Round numbers signal prestige, while precise numbers suggest a bargain.  Buyers anchor off the first digit, so $3,999 seems cheaper than $4,000.”  Finally, “if you cut your asking price, make it easy to calculate the discount.”

 

2 Comments on PRICE, PRICE, PRICE! GET IT RIGHT OR WAIT…

Brett...this is the absolute truth. I work with a Realtor that is consistently pricing the homes he lists at or below the best in that style of home...and the bidding begins...and he's got one selling for 19k over asking price. That's in a declining market!

Price is the number one way to get people to see the home fast.

03/05/2008 02:40 PM by Hemet Home Loan Guy, Joey Aszterbaum (Patrion Mortgage)


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Real Estate Agent: Adam Brett  - Fullerton, California Realtor (RE/MAX NOC)
Adam Brett - Fullerton, California Realtor
Fullerton, CA
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