Study Reveals Best Technique for Pricing a Home
Are you ready to put your home on the market and you have that final decision, do you price your home as a rounded number, say $300,000 as an example, or just below, $299,000?? We now have a study on this very question. The American Real Estate Society (ARES) took this question and researched the answer. The study looked at 1,000 buyers in Virginia considering a pool of more than 370,000 listings. Turns out you should price your home just below the rounded number is the better way to go. In the ARES study, they actually found that pricing your home just below the rounded number would net you 2.5 to 3% higher sales price. WOW!!
See the report on the study here from RISMedia.