Why pricing homes at $599,000 / $605,000 or similar isn't smart

Realtor.com - $400k

Zillow - $25k
Homes.com - Manual
Trulia $50k up to $1.25 then 150k

👆🏼Above is how these platforms increment the values of buyer searches.

So for example, if a home buyer wanted to look up to $400,000 then can easily do so in the drop down boxes on these sites and manually in Homes.

🥤Also, all homes listed at $400,000 and below will pop up. They also pop up in random order so it may start with a $250,000 please, then a $375,000, then a $305,000, then a $400,000.

🚫It also WON'T show you homes at $400,001 & up.

When pricing property we should be aware of how buyers search for homes and pricing our properties accordingly. If your client wants to list at say $410,000 to "negotiate down" then they will likely have less people to negotiate as all of the buyers looking UP TO $400,000 won't see it.

🥰The goal is to be where the people are not be where some are and hope to negotiate. HOPE isn't a good strategy. Strategy is a good strategy. Oh, and there is no reason to list at $399,999 as opposed to $400,000. They both show up.

HOWEVER, there is some science behind listing and negotiating at odd numbers like $398,967 instead of $400,000 as it grabs attention and b. it tells the buyers subconsciously that there was a reason behind this number. 🧮

In other words, they didn't just randomly guess this. This unique price must've come from some calculation.

Anywho, the overall point of this is that you want to list within' the auto default increments that these sites provide the end user.

I recommend saving the above and using it on your calls with your clients. Whatcha think? 🧠

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