How to increase your list price and attract more buyers
Spring Texas home sellers I am going to let you in on a little secret of how to increase your list price and attract more buyers. I know it sounds a little crazy but give me a chance to explain.
Pretend you are a buyer and go to any real estate website (Realtor.com, Trulia.com, HAR.com or DiscoverSpringTexas.com) and search houses for sale in Spring Texas. Now further define your home serach by defining pricing parameters. Did you notice the options you were given for selecting the minimum and maximum prices for your home search?
The real estate websites either gave you defined pricing increments of $5,000 or $25,000 or you were able to input your own price range. Let’s say you are searching for homes priced between $135,000 to $150,000 and your husband is searching for homes priced between $120,000 to $135,000.
Put your seller hat back on now. As a seller you want to sell your house for the most money possible. The more exposure to home buyers your house receives the more demand it will create and the sooner it will be sold.
How should you price your home? The data of comparable homes support a list price for your house of $135,000. But $135,000 is a round number and real estate agents for years have told you to price it at $134,900 because it sounds cheaper.
In our scenario above of the husband and wife both searching on their own in different price ranges only the husband will see your home if you price it at $134,900. What if the husband does not like your home? At $134,900 it will not show up in the wife’s search for Spring Texas houses and maybe she would love your home.
With 87% of buyers using the Internet to search for homes, you need to make the Internet work for you and not against you. It starts with knowing how to price your home to get the most exposure from potential buyers.
What about thee old physiological pricing game of $134,900 sounds less than $135,000? It does not work today. Buyers are smart. They are not going to choose a $134,900 house over a $135,000 because it is a $100 cheaper. That pricing game only works for Walmart. You are not Walmart and you are not trying to get a buyer to make an impulse purchase of a package of tube socks for $9.99. You are selling a house. A place where someone is going to live and raise their family.
Increase your list price by the $100. You will attract more buyers and get your Spring Texas house sold sooner.