Tips on Pricing Your Home to Sell Fast

By shaye • August 4th, 2010

Selling a home is like selling any other product — the price needs to be right. Even if your property is gorgeous, squeaky clean and problem-free, you can scare off potential buyers with the cost. Sometimes all it takes is a price adjustment to attract buyers, so try out these tips and see if you can increase the number of bidders.

Going Up Or Down Influences The Price

Using simple marketing tricks is a surefire way to see buyers show up at your door. The question is, how much should you go down or up?

Retailers still use $19.99 instead of $20 because people read prices from left to right and therefore think they are getting a better deal on the product. We sense the price is lower than it is, even though the difference is in cents. Instead of selling a home for $300,000, try $299,999.

On the other hand, pricing your home at a higher rate can bring in buyers too. By setting the cost at more than you would accept, you set yourself up for the more expected price. The higher price is what buyers will use to reference and

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consequently what they will bargain. Of course, pricing it too high will deter attractive buyers, so be reasonable.

Bargaining And Cutting Sells Homes Faster

Bargain prices come from numbers that are more specific. Selling your house at $355,465 means that the numbers are associated with lower prices. An even $355,000 will sound more prestigious, as though you live in a home that is worth bargaining. The more precise calculation is for people in need of a quick sale because it looks as though you do not want to negotiate a price.

Since it seems as though everyone is looking for bargain pricing, cutting the price of your home is probably going to happen. However, how you drop the price is what matters.

Let’s say your home is going for $355,465. If you cut the price in a way that is easy to

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calculate, the difference will be easier to recognize. If you change the total to $350,465, the buyers will be able to spot this much faster than a similar difference like $349,725. Hence, buyers will think they are getting a greater bargain.

If buyers are wary of your price, show them how much competing houses in your neighborhood are going for. Also, if you do reduce the cost, indicate the number difference so buyers know exactly what kind of bargain they are getting. Selling

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a home quickly takes some skill but if the price is right, buyers will come knocking.

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