Tag

Asking price

The $394,727.89 House (Huh?!?)

Consumer Psychology and the Too-Precise Price When you see an oddly-priced “For Sale” home, there are two possible explanations (at least in my experience selling residential real estate): One. Drawing Attention. The way to stand out from homes listed at $389,900, $399,900, etc. is to price at $398,731 or some such (I haven’t seen a home...
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The Problem(s) With Price Ranges

  “List Price: $325k – $350k” There’s a trend afoot — at least amongst some listing agents — to market an upcoming listing within a price range, as opposed to naming a specific asking price. I’m not a fan, for two reasons: One. When the price is given as a range, Buyers immediately fixate on the lower end,...
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Buyer’s Agents & Multiple Offers

Lots of Extra Tasks — But Also One Less It’s no secret that participating in multiples offers can be challenging:  for stressed Buyers, their exhausted agents, and even listing agents (representing the Seller), who may be overwhelmed by the number of offers. Fortunately, there’s at least one standard, time-consuming task that Buyers’ agents in multiple...
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The $394,727.89 House (Huh?!?)

Consumer Psychology and the Too-Precise Price When you see an oddly-priced “For Sale” home, there are two possible explanations (at least in my experience selling residential real estate): One. Drawing Attention. The way to stand out from homes listed at $389,900, $399,900, etc. is to price at $398,731 or some such (I haven’t seen a home...
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Schrödinger’s Cat — Real Estate Edition

Projected List Price:  $500k . . or $800k” Agents at a recent Realtor meeting got a chuckle listening to a colleague do some pre-list marketing for an upcoming property. Projected list price:  “$500k — or $800k.” Umm . . . huh?!? It turns out the home needs significant updating, and the owner is trying to...
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List Price + Updates > New = Overpriced

Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door:  every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...
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