$219,900 vs. $225,000
What difference does it make — besides an extra $5k — to list a home for $225,000 instead of $219,900?
The home listed for $219,900 will get picked up by Buyers searching for homes between $200k and $225k.
By contrast, the $225k listing will likely show up in two Buyer searches: those searching between $200k – $225k, and those searching between $225k – $250k.
Thanks to Edina Realty City Lakes Office Manager Matt Loskota, at today’s office meeting, for that tidbit (and the following one).
P.S.: What about the psychology of pricing in fractions, i.e., why a gallon of gas is alway $2.99 instead of $3?
When it comes time to generate marketing material for the $225k listing, a savvy Realtor will use “$224,900” instead of “$225,000.”