Beware of “Pricing Strategies”

Yesterday I showed a home that had been on the market for quite a while – asking price of $319,000.  The owners had attempted to sell the some as a “For sale by owner” at $319,00 and had no luck.  They eventually listed the home with a brokerage for $319,000 for an additional 26 days.  Suddenly there was a price drop to $299,999.

My buyers loved the house and while we were looking at it I received a call from the listing broker telling me he had multiple offers to present that evening and to get mine in if I had one.  My buyers agreed to write an offer at around $305K – $5000 over asking. This sum was more than they originally wanted to pay for a home – this was a stressful and emotional decision.

The accepted offer came in at $315 – a mere $4,000 off what the sellers wanted.  If the price looks too good to be true, consider that it may just be a pricing strategy and don’t get emotionally invested.

 

 


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