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 not 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.