{"id":6839,"date":"2014-08-28T12:43:18","date_gmt":"2014-08-28T12:43:18","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6839"},"modified":"2014-08-28T12:43:18","modified_gmt":"2014-08-28T12:43:18","slug":"tricks-finding-perfect-asking-price","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/tricks-finding-perfect-asking-price\/","title":{"rendered":"Tricks for Finding the Perfect Asking Price"},"content":{"rendered":"

3 Tricks for Finding the Perfect Asking Price<\/h2>\n

 <\/p>\n

\"Tricks<\/a>

Tricks for Finding the Perfect Asking Price. Image courtesy of fotographic1980 \/ FreeDigitalPhotos.net<\/p><\/div>\n

Determining the perfect asking price involves psychological reasons as much as practical reasons, The Wall Street Journal reports.<\/p>\n

\u201cWhen you set a list price, you\u2019re sending a signal to the market,\u201d says Michael Seiler, professor of real estate and finance at The College of William & Mary in Williamsburg, Va.<\/p>\n

But pricing a home can be a \u201cdelicate balance,\u201d says Mike McCann, a real estate professional with Berkshire Hathaway HomeServices, Fox & Roach in Philadelphia. You have to balance the comparables with sellers\u2019 unrealistic expectations about what their home is really worth. Sellers often want to price a home higher than what the market can bare. On the other hand, some sellers or agents may be tempted to set the asking price low in the hopes of generating a buyer frenzy and quick sale.<\/p>\n

What strategy works? Research offers a few insights into setting the right asking price.<\/p>\n

    \n
  1. Getting too precise means you won\u2019t budge. <\/strong>Pricing research suggests that setting an exact asking price \u2014 such as $795,475 \u2014 sends the message to buyers that the price is less negotiable than, say, a round number like $800,000. \u201cThose using precise pricing show confidence in the price,\u201d Seiler says.<\/li>\n
  2. The number nine can be a big influence. <\/strong>Pricing a property at $499,900 rather than $500,000 can subconsciously influence a home buyer. The home \u201cseems way cheaper,\u201d Seiler says. Even if the home winds up selling above the asking price, the buyer will feel like they got a great deal with the initial lower asking price, Seiler says. \u201cThe goal is to make it stick in their head that you\u2019re getting a bargain,\u201d Seiler says. \u201cIt\u2019s the way our brain looks at numbers.\u201d<\/li>\n
  3. Going low doesn\u2019t always mean a higher selling price.<\/strong> While setting a lower asking price may generate a frenzy of offers, it won\u2019t necessarily translate into a higher sales price. \u201cIt creates a havoc that doesn’t serve anyone well,” Rebecca Walter, a real estate professional with Redfin in Portland, Ore., told The Wall Street Journal. The lower price won\u2019t necessarily increase what a buyer will offer, since some buyers may compete in other ways, like paying in all cash or waiving the inspection to produce a quicker sale, Walter says.<\/li>\n<\/ol>\n

    Source: \u201cStrategies for Setting a Price for Your Home<\/a>,\u201d The Wall Street Journal (Aug. 21, 2014)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    3 Tricks for Finding the Perfect Asking Price   Determining the perfect asking price involves psychological reasons as much as practical reasons, The Wall Street Journal reports. \u201cWhen you set a list price, you\u2019re sending a signal to the market,\u201d says Michael Seiler, professor of real estate and finance at The College of William & … <\/p>\n

    Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-6839","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nTricks for Finding the Perfect Asking Price - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/tricks-finding-perfect-asking-price\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Tricks for Finding the Perfect Asking Price\",\"datePublished\":\"2014-08-28T12:43:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/\"},\"wordCount\":422,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/08\\\/ID-100168379.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/\",\"name\":\"Tricks for Finding the Perfect Asking Price - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/08\\\/ID-100168379.jpg\",\"datePublished\":\"2014-08-28T12:43:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tricks-finding-perfect-asking-price\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/08\\\/ID-100168379.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/08\\\/ID-100168379.jpg\",\"width\":282,\"height\":400,\"caption\":\"Tricks for Finding the Perfect Asking Price. 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