Miami real estate news and information

Miami Realtor … Rants and Raves ! WHERE DO THESE MIAMI REAL ESTATE PRICES COME FROM?

Breakfast

Not again!   Pricing your house for sale at $763,247.00?  

WHY?   What did you have for breakfast ?  

Who thought up that bit of nonsense?  Who on earth suggested  listing your home for a price NO ONE CAN REMEMBER?  They should be hung out to dry!   Seriously, what market segment  were you afraid of “missing out” on?  

While I can understand pricing a house at $799,000… I think that to is often a  MISTAKE .  Think about who you’re selling to.  $799,000  is the TOP of a  $750,000 to $800,000  search…. and  $799,000 makes you invisible to anyone looking above $800,000.   INSTEAD OF SLICING YOUR BUYER POOL IN HALF …   DOUBLE IT.   How?  Priced at $800,000  you’re at the top of one search group ($750,000-$800,000)  and at the bottom of another($800-850) … where you’ll be perceived as having MORE VALUE.    

At $799,000  you’re  the MOST EXPENSIVE HOME in one search , but you are INVISIBLE to someone looking above $800,000.  Position yourself to take advantage of BOTH SEARCH GROUPS:  The “perception of value” may well grab you a buyer wanting an $850,000 house… and who sees  enormous “value” in yours. 

The name of the game is maximizing your visibility

So, getting back to that $724,542.00  listing price ( or was it $763,247.00 ?) … Who can remember?    Not remembering  ‘price’ diminishes value…. especially if your buyer ‘remembers’ a lower figure .  

WHY confuse the heck out of everyone? I’m not a fan of the   ‘dollar under’ theory… nor of  “hard-to-remember-pricing”.  Most buyers “search”  for property’ in a range… clearly understanding that in the vast majority of home sales, there’s at least the potential for “some” negotiation.  Keep it simple:  The more visibility… the better.

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