the first listing price. In order to trick buyers, most property owners fix the price using more nines to induce a feeling that the property is cheaper. For instance, some might quote the price as $199,900 rather than $200,000, with the intention of making it sound more attractive. However, be aware that existing Internet searches are not tuned to reach buyers effectively if you use this “nines strategy.” The majority of real estate sites employ search parameters that are organized into categorical groups: $175,000 to $200,000, then $200,000 to $250,000, and so on. Given this system, if you are quoting the listing price as $199,000, it is likely that your property will reach buyers searching for properties within the $175,000 to $200,000. However, if you quote it as $200,000, then it can figure in searches under both the $175,000 to $200,000 and $200,000 to $250,000 categories; your apparent affordability comes at the cost of reduced visibility, hurting your odds of a quick sale. HOW THE WRONG PRICE CAN HURT YOUR SALE
58
Powered by FlippingBook