Jeff Byrd

In today’s world of automatic Internet searches for homes, reducing your price on a weekly basis might keep bringing your property back up in front of buyers weekly.   Many buyer’s and their agents set up searches that automatically notify them when a new property that matches there search becomes available.  They tend to bracket their searches with $10,000 or $100,000 price points.  Price changes many times are picked up in these searches as a new property that matches their search criteria and they are notified.  As properties sit on the market they become stale and are many times seen once and not looked at again.  Many times buyers and their agents are only looking for new properties or properties that have moved in price.  This strategy may get your home in front of the buyer and agent utilizing this type of search.  Care must be taken to make sure the price reduction is enough to be credible.  Generally if you are going to try a weekly strategy they should be at least $2,000 at a time.  You may notice a little more activity when you drop below one of the $10,000 price points such as dropping from above$220,000 ($221,900) to just under $220,000 ($219,900).  Dropping below a $100,000 price point can really open your property up to a totally different group of buyers.  Keep in mind though if you are grossly overpriced it will not sell until you get it into the range at which it will sell.  Pricing it at or just below market is your best pricing stretegy.