Pro Tip for Property Searches...and Pricing Your Listing

[Nick Bruckner]

Pro tip - Don't price your property like a t-shirt: $9.99.

Many sellers list their properties just below a round number. For example, $695,000 or $799,000. They think this looks presents the property as though it's a good deal, but they are shooting themselves in the foot by failing to maximize the pool of qualified buyers.

Most buyers shop a range with round numbers: $700K-$750K. or $800K-$900K. So @ $695K, your property is not showing up in the search of the buyer who is looking at $700-$750K properties online. @$799K, you're missing all the $800K+ buyers. 

You want to list your property on the border of buyers who are shopping properties. So $700K or $800K would be better prices than $695K or $799K, respectively, because you'd double your buyer pool and likely end up with a better offer.

Conversely, if you are searching for a deal - drop $10K below the window you had in mind on the low end of your search. If you're thinking you want a $700-$800K property, put $690,000 in on the low end and you may end up with a great deal that you would have otherwise missed. This concept is one of the best tips I picked up from Larry Kendall's book, Ninja Selling. 

Anyone else have a pro tip on pricing properties strategically?

@Jamie Rose @Tyler Cobb