The Real Estate Helpers News
Bait Price? Fixed Price? High Price? No Price?
Frustrated by the pricing methods used by MOST real estate agents?
What are you going to do when YOU sell your house?
How will you price your property?
How will YOU attract the best buyers?
What pricing strategy should you use?
- $500,000 – $550.000
- $500,000 +
- “Offers Above”
- NO PRICE?
- Fixed Price?
Nic compares typical strategies used by agents and helps you select the best option
Another method that I see used quite a bit is the controversial strategy of plus pricing. That’s where you see a low price coupled with a plus. Sometimes agents even say “offers above” certain prices instead of using a plus. It’s all the same. What’s happening is buyers are being told a low price to get them in the door and then you try and push the price up.
The problem with plus pricing is just the same as using a price range. Buyers get drawn in by a bottom figure and trying to convince the buyers to pay a higher price is like pushing a bolder up hill.
Furthermore buyers feel manipulated because you told them a low price to get them there and then change the story. This is a terrible basis from which to start negotiations because they won’t want to offer you a higher price if they feel that you’ve been messing them around.
When you start from a low price buyers will want to stay there. So what you must do when selling your home is not just attract buyers but attract buyers at the right price.
The trick is really just to keep it simple. The best way market the price of your property is to display a fair fixed price. Most real estate agents loathe this method because they frequently tell their clients a really high price in order to win their business.
If they marketed the price they told the owners then they would have to responsibility when no buyers showed up for inspections and we can’t have that. Agents instead market prosperities under this cloak of tricks and ambiguities.
Because so very few properties are actually marketed with a fixed price, buyers will find the directness of this refreshing and by keeping it simple your property will actually stand out from the pack.