How can a zero pricing strategy attract more buyers? 

 

How can a zero pricing strategy attract more buyers? 

by Charlie Sylvanus-Jones

The way a property is priced when it comes to the market is crucial. It will dictate the level of exposure the property will get and determine how many of the right buyers see it. 

99p pricing psychology

For many years products for sale have been advertised at prices just shy of a round figure (£24.99 instead of the actual £25.00). This psychological trick is designed to make you think you’re getting the product cheaper, when in reality, you’re not. But in recent years, this has changed.

97% of homebuyers start their search online. This means that your house has already shown up in hundreds if not thousands of searches on the main property portals such as Rightmove and Zoopla.  

It’s important to note that these searches are done in increments of £10,000, jumping to £25,000 and £50,000 as the price of the house increases. We use these searches to target more buyers who are actively searching.  

How does it work?

Imagine your house is valued at £190,000 and your agent puts your house on the internet for £189,950. Your property will only show up in searches by buyers who set their maximum value of £190,000. It will completely missed by those buyers who search for properties from £190,000 to £220,000. You’re missing out on a lot of potential buyers, viewings and offers. 

Also, with over 75% of buyers searching on smartphones (small screens), it is vital to ensure your home is top of the results list, or at least on page one.  By sticking to the price banding you increase your chances of being seen.


 
buying, sellingAdam Hortonnew, charlie