Thoughts of Removing Home Price from advertisements.. Please Reply

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Real Estate Agent with Real Living, First MSP Realty

What do you think about "Including" or "Excluding" the listing price of a home in your advertisements.?

From what I can tell, there are 2 schools of thinking on this subject:

There is One school of thought, that if the price is excluded, you will generate more interest and in turn get more phone calls.  The other school of thought is to Always include the price.  This way, the only people who call will be people who believe they can afford the property.  Even if this results in ZERO CALLS.

Personally, I have tried it both ways.  I have Included and Excluded the price from my ads.  Being that the recent call volume in Northern Minnesota is low, it doesn't seem to have an effect on the number of calls recieved.  Have any of you tired playing with this:  What were your results?

CASE IN POINT: My wife is a person where if the PRICE is not included, she has absolutely No interest.  No interest in looking, calling or asking.  No Exceptions.

On the other hand:  Some agents believe the asking price may be too high and will not generate any calls if the price is Included with the ad, therefor they leave it out.

Please respond with your comments on this subject.  I would like to use the feedback as a general consensus of the 'Right or Best thing to do"

Have a wonderful (Active) weekend.  Thanks for your input!

Phil Bremer, First Realty GMAC Real Estate, Bemidji MN. (218) 209-7420  Phil@firstrealtybemidji.com

 

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Rainmaker
6,032,208
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We always include the prices in advertisements. The old school argument was that they would call for the price. The real world now is that if you do not provide the information, they will go to another website.

Jul 31, 2009 04:27 AM #1
Rainmaker
456,053
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Phil, while I'm not a Realtor®, I've purchased many homes during my career. I'm in the same school as your wife, and would only rarely call if the price were not listed.  That purchase philosophy holds true for me in all my purchases, whether real estate or consumer items. I always assume the price is high if it's not listed.

Jul 31, 2009 04:29 AM #2
Rainmaker
609,343
Brian Burke
Kenna Real Estate - Lone Tree, CO
Broker & Advising Expert-Denver Luxury Real Estate

We are with Roy, John and your wife and apparently so are most if not all of the buyers and clients we work with. They are furious if the price is not listed and will refuse to call other than maybe to complain (happened to us once of twice - when we experimented with no price). I absolutely agree with Roy, in today's world people expect the information to be there or they go elsewhere. ~Rita

Jul 31, 2009 04:40 AM #3
Rainmaker
710,880
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Full disclosure. Price is the first thing people would want to know. In this day of warp-speed information flow, if your price changes on the MLS, it is changed immediately online (REALTOR.com for one). So why hide the price?

 

Jul 31, 2009 05:09 AM #4
Ambassador
1,378,664
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

You will have 50% of the people that goes one way, and another. Everyone has an opinion. You asked me, so here is mine:

 

I dont hide the price. I want to be sure it fits within the buyer's budget. If it is too high, then they can exclude themselves. If it fits their budget, they can call me for a viewing. I am very focused when I sell my Seller's home. I sell them. It is not another strategy for me to pick up another potential buyer. I have other avenues of buyer lead generation.

Jul 31, 2009 05:21 AM #5
Rainmaker
342,854
Elizabeth Bolton
RE/MAX Destiny Real Estate Cambridge, MA - Cambridge, MA
Cambridge MA Realtor

Hi Phil ~ My office stopped putting prices on listings in our front window and I hate the idea.  People need something to hang their hat on.  If you have no idea what the price is often you won't ask - if only for fear of embarrassing yourself if it's far more than you can afford.  It's like garage sales - if you want to sell your stuff you have to put a price on it because most times people won't ask.

Liz

Jul 31, 2009 06:40 AM #6
Rainer
157,179
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

We have experimented over the years with both.  Actually, I think we've gotten more calls on property without prices than with.  The key is to have a few substitute properties at-the-ready, so that when the caller objects to the price of the "subjest", you will have a few "in your back pocket", better-priced" that may fit his needs.

Aug 01, 2009 01:40 AM #7
Rainer
229,293
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

We show the address and price.  In today's age, I can imagine not giving out this information.  If we didn't do it, then people would simply pass and go to the next site.  I think that this strategy is past its prime and rarely see it in today's market.  The only exception for me might be a luxury home listing over $1 million.

Oct 13, 2009 12:30 PM #8
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Rainer
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Phil Bremer

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