Property pricing is of paramount important these days. I don’t mean the question of ‘value’ but instead the art of setting the right price so that the portal searches are optimised. For example: you have a house to sell worth approximately 1 million. The agent suggests an asking price of 999,999. It’s a psychological price point they tell you. I don’t agree. At all. I say market at 1,000,000, and here’s why:
- 999,999 is a cheap ploy an ‘Asda’ price. Your buyers aren’t daft, so don’t treat them as if they are! Give them some respect and a ‘Harrods’ price. Make it 1 million straight;
- 1 million is actually an aspirational price point your buyers WANT to spend one million pounds on a house, and tell their friends and family that they have done;
- 1 million is a very confident price it says my house is worth a million pounds 999,999 is apologetic, humble: it says make me an offer;
- 1 million gets your property shown in more searches. At 999,999 on Rightmove, your property will only appear in searches up to 1 million. At 1,000,000 straight, it appears not only in searches up to 1 million, but also those over: potentially doubling traffic to your property advert.
After all, as my Dad would have said, Look after the pennies, and the pounds will take care of themselves.
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What to read next: Dropping your asking price isn’t the answer!
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