The Price is Right

You’ve done all of your homework. You’ve painted, made repairs, hung new curtains, did a space clearing, baked cookies, lit candles, and researched all of the comparables. Then you came up with the ideal sales price. Now the question is: how do you achieve that sales price?

All the research indicates that by pricing just below the price you hope to sell for, you will bring out the greatest number of buyers quickly. I’ve seen this work time and time again, not only in my more than 25 years as a Broker, but also in my previous career as a NY State Certified Residential Real Estate Appraiser. 

Other brokers at my firm and at competing brokerage companies ask me how I manage to get so many attendees for my open houses. The answer is a lower initial asking price. This strategy not only brings out more lookers, it also frequently leads to a bidding war. This results in a higher price for my sellers, very often exceeding their expectations.

If you want a sales price that exceeds your expectations, give me a call!

For further reading, check out this article from the October issue of The Real Deal:

The Long View: The art (and science) of the asking price

Leave a Reply