Milpitas North San Jose Berryessa Real Estate News

1. Appeal to the "herd mentality"

Given the high stakes of real estate, a buyer doesn't want to be the only one interested in a house.  By pricing your property on the lower end of the value range, you could stimulate interest among more than one buyer and create a herd mentality.  Also, if you're under the gun to sell quickly, this would be a good option.

2. Price it to be found in real estate searches

Most buyers tell their agent they want a three-bedroom home in a certain neighborhood under $500k (or some other dollar amount).  Their real estate agent may then set up an automated buyer search in their local database for properties under $500k.  But if a home is listed at $510k, that buyer will miss it.  So, if your list price is higher out of the gates, you may miss a segment of buyers.

While this scenario happens frequently, many savvy agents will set up search parameters for their buyers to include properties listed a little bit more above their price ceiling.  Knowing how flexible home prices can be, buyers should be made aware of properties that could be a good match for them, even if those homes are above - but within reasonable range of - what they want to pay.  often times the buyer can offer under the list price, or the property will get reduced.