The internet has changed the way we do things in so many ways. In real estate, the solution to knowing how to price your home should also be dictated by the internet. A lot of times, you will see houses priced just below a round number (such as $299,900 instead of $300,000). This is called “charm pricing.” With internet search parameters, however, this pricing strategy is becoming outdated. Why? Let’s take a look at the graphic below from TRS Magazine.
You’ll see that if a buyer, using a modern real estate website, searches for property using the site’s given price parameters ($150,000 – $200,000), your property listed at $199,900 will be in the search results. However, if a buyer uses a higher parameter ($200,000 – $250,000), your property will not be included. Raising the price of your home by a mere $100 will make your listing show up for both of these searches. In other words, more buyers will see your home, which means an even better chance of getting it sold.
