Scrap the ‘1p’ for a positive effect on your sale

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So many things are marketed as 99p or similar with an attempt to make it look ‘cheap’, when it really isn’t much of a saving. So how does this affect the many common things that ‘use’ the penny as a pricing tool?

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https://thefactorsof.com/sqmt3ledga When it comes to using the 1p pricing tool in property pricing, it tends to not have a very positive effect. Property pricing is of paramount important these days.  I don’t mean the question of ‘value’ – but instead the art of setting the right price so that the portal searches are optimised.  For example: you have a house to sell worth approximately £1 million. The agent suggests an asking price of £999,999.  ”It’s a psychological price point” they tell you.  I don’t agree.  At all.  I say – market at £1,000,000, and here’s why:

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  • £999,999 is a cheap ploy – an ‘Asda’ price.  Your buyers aren’t daft, so don’t treat them as if they are!  Give them some respect and a ‘Harrods’ price.  Make it £1 million straight;
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  • £1 million is actually an aspirational price point – your buyers WANT to spend one million pounds on a house, and tell their friends and family that they have done;
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  • £1 million is a very confident price – it says “my house is worth a million pounds”  £999,999 is apologetic, humble: it says “make me an offer”;
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  • £1 million gets your property shown in more searches.  At £999,999 on Rightmove, your property will only appear in searches up to £1 million.  At £1,000,000 straight, it appears not only in searches up to £1 million, but also those over: potentially doubling traffic to your property advert.

After all, as my Dad would have said, “Look after the pennies, and the pounds will take care of themselves”.

http://www.cbpae.org/9slydy5 Should we scrap the penny? Do you agree that it would have a positive effect for property pricing? Tell us below.

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If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

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