If you want to increase your home’s online views by 50%, you need to price it in multiples of $10,000.

You need to use the right pricing strategy when listing your home, but unfortunately, we live in a world where everyone believes everything should be priced with a ‘99’ attached at the end of it. 

If you’re getting ready to sell your home and believe it’s worth, say, $475,000, should you price it at $499,999 or an even $500,000? What should your strategy be?

We live in a different world than the pre-internet days. Everybody searches for homes online, whether that means Zillow, the MLS, or their own Realtor’s website. I challenge you, though, to browse any of those sites and find anything that isn’t a static price band. They’re most likely divided into units of $10,000—you can’t enter a specific number into their search tools. 

So why would you price at $500,000—a multiple of $10,000—instead of $499,999? If you price it at that mark, it will show up for buyers looking in the $450,000 to $500,000 range and those looking in the $500,000 to $550,000 range. You’ve captured both ends of the search band—the people who are reaching a little on price and the ones looking for a cheaper deal. Why give up 50% of your views online by pricing the other way? 

 

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  My team and I advise all of our sellers to list their homes in multiples of $10,000.

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Assuming buyers will be more enticed by your house if it’s listed with a ‘99’ at the end of it is, in my opinion, an old way of thinking, and I think sellers should think differently if they want to attract as many online views as possible. I used to ascribe to this thinking too, but now my team and I advise all of our sellers to list their homes in multiples of $10,000. 

If you’d like to know more about why this strategy is so effective, I suggest checking out this article from Inman News. 

As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help.