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If we look back on the real estate market circa three or four years ago, just about any and everyone who chose to sell South Florida homes were met with an instant buyer willing to pay whatever price they had determined. It’s easy to see it’s not quite the same situation now in 2008 but contrary to what some might say it’s not impossible to sell your home for a reasonable price by using a few tricks of the trade in regards to the price.
Sell for “less”. The majority of goods often have a sticker price that says something like $39.99 when really it costs $40. One of the reasons behind this is to present the product in question as cheaper than what it really is since American consumers are taught to read from left to right. That same tactic could be used in selling your home. A $399,998 price will appear less than the actual $400,000 value.
Request more than the minimum. You always want the buyer to feel like they’re getting their way as much as possible and their needs are being met. A higher price will allow you to agree with a buyer’s counteroffer without having to compromise on the lowest price you’re willing to accept. Obviously this strategy requires that the home has enough bells and whistles in order for the higher price not to seem ridiculous.
Determine an exact amount. Precise figures like $387,969 as an example tend to give the impression of a better bargain than a Miami home carrying a $387,000 sticker price. Then again, $387,000 also happens to represent a top quality home. Thus, sellers need to figure out what kind of approach they want to take and the image they wish to instill in potential buyers.
Don’t make “good deals” difficult to determine. So you listed your three bedroom South Miami home at $400,000 but nobody took the bait and you decided to relist it for something lower. This new value should be simple to figure out to the point where a buyer could whip out a calculator, punch in the numbers, and have a percentage that’ll easily allow them to determine the amount of savings. The easier it is to figure out, the better the chances of the buyer assuming the drop equals a “steal”.
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