The Power of Numbers
I read a white paper several years back that described the fact that there was a measurable difference in the sale prices of homes that had fewer zeros in the list price: as in $699,999 as opposed to $700,000. The basis was that the mind plays subtle tricks and the mind would think that the $699,999 was a more accurate number and not receive as large a counter offer as $700,000 would. That statistically, the final selling price of the $699,999 list price would be larger than the final selling price of the $700,00 list price. It was a small %, but still measurable and money in the bank.
Since then I have employed it in both buying and selling, setting list and offer prices with no zero’s. My faith based clients have used bible verses for ending numbers such as $XXX,316. One buyer, faced with multiple offers, used the date of the offer. In all cases, it seems to have worked, rarely have we lost a bid or not sold near asking when clients accepted my theory. My current listing (1321 117th Pl SE Kent) is listed at $676, 247 because it has 2 kitchens, 4 bathrooms & 7 bedrooms. We’ll see how that goes, but over a dozen shows in 2 days is a good sign!. Update -It is now Pending at Full Price.!!
What are your lucky number’s??