Matthew Ferrara, Philosopher
 

The Daily Difference: The UnPriced Listing

Nowadays it’s common to see overpriced listings. But rather than fall into the same trap as others, why not try something altogether different. Stop pricing your listings at all. Instead, let the consumer determine the right price every time. Placing property in the market in “price zones” opens the property to far more buyers who might otherwise have disqualified the property because of an arbitrary “search” criteria on a website. Simply offer properties “in the mid $300s” or “starting around $200k” and open the potential pool of buyers as wide as possible. Try it.

  • This is a great idea….how do you handle the MLS factor or are you speaking of just for advertsing purposes?

  • This is a great idea….how do you handle the MLS factor or are you speaking of just for advertsing purposes?

  • WOW what a concept, if buyers like the home they will if they already have the funds use them or do what it takes to get the funds to buy the home they want. Not with hand outs mind you, with exchange of personal investments and /or assets. I have always heard it said, WHAT???? They want what for this? really most buyers even with all the information at hand. Still are not on target with the market price of the home that will meet their needs. It turns out to be more of a process of discovery looking at the good and bad listings, price and condition, in a range of pricing. To whittle down the choices thus finding the home for them.

  • WOW what a concept, if buyers like the home they will if they already have the funds use them or do what it takes to get the funds to buy the home they want. Not with hand outs mind you, with exchange of personal investments and /or assets. I have always heard it said, WHAT???? They want what for this? really most buyers even with all the information at hand. Still are not on target with the market price of the home that will meet their needs. It turns out to be more of a process of discovery looking at the good and bad listings, price and condition, in a range of pricing. To whittle down the choices thus finding the home for them.

  • Dave Hennessey

    Sounds like a great idea ..and it would be, except incompetent brokers around here are using it to enlist their competition to do what they are unable to do-price their listings properly. They’re calling it range marketing (Prudential has been using a version of this for years) & the way it works is this: a property ought to be priced at $325,000 but the seller won’t list it for less than $350,000. They put it in the system at a range of $325-350 to get the competition to prove to the seller, by the offers that come in, that the house is over priced. After enough agents and their buyer clients have wasted enough time & effort the seller grudgingly agrees to come down-sometimes.

    In this market, there are enough properly priced properties that we’re simply not wasting time with these properties.

    List it right and it will sell.

  • Dave Hennessey

    Sounds like a great idea ..and it would be, except incompetent brokers around here are using it to enlist their competition to do what they are unable to do-price their listings properly. They’re calling it range marketing (Prudential has been using a version of this for years) & the way it works is this: a property ought to be priced at $325,000 but the seller won’t list it for less than $350,000. They put it in the system at a range of $325-350 to get the competition to prove to the seller, by the offers that come in, that the house is over priced. After enough agents and their buyer clients have wasted enough time & effort the seller grudgingly agrees to come down-sometimes.

    In this market, there are enough properly priced properties that we’re simply not wasting time with these properties.

    List it right and it will sell.

  • Ken Osborn

    Selling “unpriced” has been around for years in all kinds of markets. The guy above (Dave) is a typical agent who can’t think outside of the box. It is the real estate sales person who usually gets upset with not having a price, not the buyer. Recently, I ran across three sales people who had their best year (2009) in their ten to fifteen year career. I guarantee that they are not sitting around the office talking about how bad the market is and have come up with creative ways to find buyers. The “unpriced” property (not a range) works very well in certain circumstances. If you ask me what I want for something and I say somewhere between 2 to 5 dollars you will hear $2 every time.

    Good for you for even suggesting something different.

  • Ken Osborn

    Selling “unpriced” has been around for years in all kinds of markets. The guy above (Dave) is a typical agent who can’t think outside of the box. It is the real estate sales person who usually gets upset with not having a price, not the buyer. Recently, I ran across three sales people who had their best year (2009) in their ten to fifteen year career. I guarantee that they are not sitting around the office talking about how bad the market is and have come up with creative ways to find buyers. The “unpriced” property (not a range) works very well in certain circumstances. If you ask me what I want for something and I say somewhere between 2 to 5 dollars you will hear $2 every time.

    Good for you for even suggesting something different.