Smart Girls Own Real Estate Blog

What is the deal with pricing homes in odd numbers? Am I missing something?

I am showing a listing this week that is $181,888. Is that some secret code or does the seller really need that $88 to move. I always see them listed for $199,900 and I understand that theory. It's quite the QVC tactic that I employ myself "Beautiful twin home just under $200K."

There is an agent in my office that always lists with 865 at the end, as in $359,856. I never asked her why. Does it help it sell faster or is it a secret code?

Wouldn't it be cool if it were a secret code? Like "888" at the end means "seller not moving," or "452" means "gotta sell - make an offer." It would be great if there were some kind of way to find out if the seller is really motivated when a Realtor writes "motivated seller" in the remarks section of their listing. I find that many "motivated sellers" are really not, it's the agent who is motivated, but they can't get their sellers to move on the price when presented with an offer.

If they could just list it at "175,666" I would know that the seller is evil, LOL. Or listing it at "329,757" means the seller is leaving town. I saw one listed at 201,100 last week. It must have meant "this is the 1."

Makes you think...

In most of our markets we are all having to adjust our prices down at this time to some degree or another. It is sometimes difficult to educate a seller about the current market when their neighbors home sold last year for more than homes are selling for now.

Here's an innovative approach that I am lucky to have available to me.

Each Tuesday the Realtors from my office spend two hours visiting each others listings to critique them. This has proven to be a very educational experience for the rookies and a great help to the Realtors whose listings we have visited. It gives the listings much needed exposure and a chance to gain a fresh perspective from the top agents in our office. We share ideas and help each other because we know that together we achieve more.

This is not your typical "Broker's Open." Usually there is nobody home and there is no food. In this video we got lucky with some wine and cheese, but it is usually a pretty dry experience. Watch this five minute YouTube video I edited myself. (It was my first time, so please be gentle!)