Have you ever wondered why most things get priced at a penny less than a pound and a pound less than a hundred etc? So have I but I guess that it’s because 99 sounds less than a hundred and 999 sounds less than a thousand, which it does.
The trouble with using this trick when pricing your home however is that when people search the property portals, they won’t search from (for example) £99,000 to £149,000 but rather £100,000 to £150,000. So pricing your home this way is obviously going to be reducing the number of search results your home appears in if you have priced it at £99,000, just like it won’t appear in the search for properties from £150,000 if you have priced it at £149.
Sounds obvious? Well it is when someone mentions it but believe it or not I have just been on rightmove and counted NINETY THREE properties for sale in the FY postcode area priced between £99,000 and £99,950. The funny thing, is that some of those properties look better value than some of the ones over £100,000. What’s no so funny, is that these properties would have been worth looking at for the said buyers who sadly would have never even seen them.
So if your estate agent recommends you sell for a penny less than a pound, you know what to do.