Clark Howard's Tips
Oddball pricing strategy works in down real estate marketMarch 6, 2008
Selling a house is a turbo-challenge right now. Figuring out the price point is the most difficult part. Everyone's perplexed by the question of price point these days.
Here's some advice: Don't look at comps from a year or 2 ago; look at today's comps. Know that if you overprice, you'll likely get less in the end than those who price realistically upfront. You lose your initial marketing thrust when you overprice upfront. Listing your home at a realistic price will lead to less angst, a shorter time on the market and possibly a better price.
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CLARK'S TIP TOPICS
Find more consumer advice in Clark Howard's book, "Get Clark Smart" |
Clark and Christa have a mutual friend who was selling her home last year. Clark advised the friend to price her home at a totally oddball figure, something that ended in $XXX,552.27, for example. Everyone laughed at him at the time. Now financial writer Jonathan Clements reveals this pricing strategy actually works.
When you throw out an oddball figure, people think 2 things: First, that it's a bargain. Second, that's there is carefully thought out reason behind it. But whatever you do, do not overprice your home!
