Drama pricing

While it seems like you might miss potential clients by pricing your home so low that it falls off their radar screens, Broker Bryant today spotted a $235,000 home listed for $160,000. The guise: “drama pricing.” Set the price so low people get excited and let them bid it up.  They should call it ebay pricing in honor of the one cent listings.

Sure you’ll get a lot of bodies through the door and maybe you’ll start a bidding war like the ones every Seattle home for sale had in 2004, but isn’t it possible you’ll also turn someone off? There are deals and then there are deals that are too good to be true -  those are the ones you don’t even follow up because you actually don’t want to spend the $70,000 in repairs the person hasn’t disclosed in the listing.

In case the suspense was too much for agents viewing the listing, the listing agent put that the price is to “catch your attention” in the remarks. That sort of killed the drama for me.