Source Real Estate

Price changes for selling purposes and marketing purposes

Posted by Dave Reynolds on Tuesday, April 16th, 2019 at 8:10am

In real estate there can be many ways to market properties. Price changes can be one of the tools agents or brokers will commonly use.

A price reduction that is done with the intent of selling the house will typically have to be a dollar amount that is substantial enough to sway potential buyers to purchase your property over others, or put your property into a different price search. For example, if someone is searching for property on Zillow, Realtor.com, Trulia or SourceRealEstate.com, and they are searching up too $600,000 but your property is listed at $601,000. Your property would not show up in their search results, however if your property was listed at $600,000 and within their search criteria, it would be displayed to that potential buyer. Pricing a property just over a common search criteria point can be catastrophic in certain situations.

A marketing price reduction is generally as small as $1. This will typically have very limited impact. Any time a price change happens, an email is sent out to every single person who has a search set up containing the property criteria your property falls into. This can be advantageous if we need to showcase a change on the property, such as updates, season changes or new photography.

 

If you have any questions or comments please let me know. If you disagree with my thoughts, I would also love to hear your perspective.

 

 

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