t’s time for another episode of “What’s Working Now!” Today I want to talk about pinpoint pricing.
I am often asked by sellers if buyers will make an offer on a home that is higher priced. The short answer is no. In a hot seller’s market like we’re now, you’ve got to price fairly to entice buyers into your home. When a house is priced too high, buyers won’t even come and look at it.
A lower price will attract people who are looking online. It will encourage them to get excited and to come and see your home. And, of course, buyers will need to look at your property in person before submitting an offer.
I recently sold a house in North Cleveland Park. When we priced it, we decided to put it on the lower end of its potential price range. This enabled us to go live on the market Friday and have it sold before the open house was over on Saturday for a much higher price than what we listed it at.
Pinpoint pricing helped us pick a listing price at the bottom to middle bottom of the range to get people in the door and encourage a higher sale price.
If you have any questions about this, or if you’re interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.
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