I would agree that going to 219,900 would be okay but not 219,999...

Homes should be listed in increments of at least $25,000.  Where possible, listed in increments of $50,000, and best if listed in increments of $100,000.  Most or at least many search tools work in increments of $25,000.  So, to use your example Jim, the home should be listed at $225,000 so that the home displays in $200,000 - $225,000 searches, as well as $225,000 - $250,000 search queries.

What I see happen too often is a home listed at, let's say, $299,000.  The agent just lost all the queries for $300,000 - $325,000, $300,000 - $350,000, $300,000 - $375,000, and last, $300,000 - $400,000  And yes, in the higher price ranges often times the buyer is searching in increments of a $100k.

8 is lucky # simulating fat choy(rich).  Sounds like a reasonable price in many areas.....

In California many sellers prefer more 888s.... auspicious...

How about $288,888.88? 

Yep.  Comps and sellers input = $218,000

"Price bracketing Method" would be $220,000.

Reason: internet SEARCH parameters are often in $10,000 increments, so $218,000 would get 210,000-220,000 bracket. Whereas $220,000 would get 210,000-220,000 bracket as well as 220,000-230,000 bracket, in which it would be a bargain and maybe sell faster.

Sure, depending on comps and what the sellers owed & wanted to do.

Why not?  I've seen homes listed for all sorts of numbers.   

My preference would be to go to $225,000 but in the NoVa area this would be a fairly inexpensive property and their search arguement would probably be set to display any properties listed at <$250,000. negating the desire to catch the eyes of two different price range buyers. A 'properly' priced home in that price rangewill sell very quickly, however one priced $7,000 above the 'proper' price could mean it might sit on the market for some time (especially if there is other inventory in a similar price range). Bottom line, if I were listing a home in NOVA in that price bracket and the comps pointed to $218K, that's where I'd price it.

Sam Shueh is right about the number 8 being attractive to some cultures.  I would based on comps and seller input.  I don't think people are searching in such narrow ranges of 10K.  I think they search in 50 to 100K ranges for the most part.

Actually most website search in 25K brackets so long as its unde 225K it really wouldnt matter...I have never met anyone that just looked in a 10K range from top to bottom though...

Maybe seller wants number to stand out being diffent?  However, I typically can convince my sellers to list at the "rounded" number. Depending on price point. For instance, a buyer for this home might likely be looking in increments of $20K.  Therefore, if the home listed at $220,000 you'll reach the buyer pool looking from $200 - 220 and the buyer pool looking from 220 to 240.  Allows more exposure to home and you.

Of course I would.   If a buyers budget is up to $225,000 or more, they wiill check it out.  If they can go anything over $210,000 they will be right on it as well.  Jim, would you?

Yes, anything to make the house stand out is sure to help!

Sure! Also an offer would be $218,150 as the $150 is minimal in money but when the sellers are discussing all those extra numbers rolling off the tongue sound like a lot.

Hi Jim - some interesting answers.

As Sam Shueh responded - in many areas and for many clients "8" is an important number to include and it's certainly true in market although at times it becomes almost comical.

In an extreme sellers market, often the list price becomes the starting point.  A listing price should attract buyers to consider an offer -- there has always been much discussion around the significance of numbers.  

Sure, as long as the comps support it and the seller agrees to it. Oh, and we hope it appraises for at least $218,000, too!

Why not, if the comps are right and that's what the seller wants, go for it

Sure, it could be a lucky # for the seller. I'm not a fan of the '9' thing that realtors do so I go either way on that. There is always that price break discussion though about 249,900 or 250,000?

I did list a home with an anniversary 'price' number in it once like 235,000 once - March 5th being the date part. Worked ok too.

That's a good number thinking of the search increments people use to find homes

Yes, I would!  I like peculiar numbers;)

I'd go $218,001.  Price is Right style...  

It would depend on the market value. I would not mind listing at 218,000. 

Jim - I only suggest a listing price. If the home owner wants to list their home at $218,000, then $218,000 it is. However, you do bring up a great point about the possibility of giving up equity, but who is to say a home listed at $219,900, or at $218,000 either way, may receive an offer at $216,000 anyway. 

I would list the home at whatever the Seller wants.  It's their call!

I wouldn't have a problem with that, but why not list it at 219999. 

i would , thanks have a great day

If seller says so - and comps are fine.

Colleen nailed this one!

From reading the comments it seems to very by area. I'm with you, no sense giving up that extra equity unless that market is so tight you have to be at that price.

I have enjoyed all the answers! I price homes within the range of comps depending on location, condition and seller preference. If a buyer is into numerology, or has cultural preferences, that is always reflected in their offer. As an agent searching for a buyer client, I always look a little above and below the buyer's target price to make certain no property is missed, due to bracketed pricing.

Oh YES I would! 2, 1, 8, and 0 are four of my  favorite of the ten available single digits.   I've used them  many times with great success.  In fact for me of all the single digit numbers these  rank really high.  Although I am partial to 3, 4 and 5  For some reason 6 and I Just don't connect as well. I do love 7.  I don't know what I'd do if  7  went away and I think 9 is certainly a fan favorite and much loved. Yes I would certainly use any of the single digit numbers in any combination .  I really think they all look nice.

You definitely got some interesting answers!  I guess I would have to say, "Why not?"  Of course, it depends on the comps, who may be 'searching' in a certain price range and the cultural lure.  However, I am NOT a big fan of seeing 999s ..... 

My initial response? Why not?  If the comps and seller circumstances warrant listing at that price, sure.

I personally would list it at a round number, reason being that when a Buyer is searching for a property in a price range, they usually put in round numbers such as $200,000, or $190,000, depending on what they have been approved for.  I haven't seen any Buyers approved for a loan amount of $287,654.  It is always in round  numbers.  This is how some properties end up missing out on reaching out to as many Buyers as possible.

Is the home worth 215,000 to 220,000? Yes? Then sure!

Better $218,000 than $250,000 in that case.

I certainly would list that home for 218,000, provided the cma supported that number and the seller agrees. I am not a big fan of the 218,900 type of numbers.

I would in a heartbeat. 

It depends on the CMA of the property and the strategy to be used depending on the L3, the existing inventory of the area and desirability of the neighborhood. 

If the comps brought it to $218,000 of course.  Don't understand the problem.

I owned retail stores for 16 years before real estate so I am well versed in it's not $100 it's $99.95. I think the public disturst this type of marketing, I know I do now, so a price like this says we have researched value and this is an on the nose price.

When I make offers to purchase property, I like to reduct the asking price by a little hundred just to see if I can get an extra long weekend vacation out of the deal.  Same thing when I list to sell; I raise it a little.  It is extra cash I met obtain and gives a little more wiggle room for negotiating while ramaining "reasonable" on the offer. 

Politely, I don't find the question the deep issue to have been asked if we are share with each other genuine pricing/value tips for listing residential property.  This position is based on 38 years of experience.

Property, referring to residential type, are not really "SOLD" but rather in the realty-reality-world, homes are typically financed.  In my best year of 194 closings and 161 listings, the statistic that most see as a good water mark is the 194 closings; I, on the other hand as the agent, see the lower 161 listings taken as the most important because out of the 161 residential listings taken, 160 closed within the listing contract period.  They closed because the "deep issue" question we answered was, "what is the value of the property at a closing", not an inflated one for a listing gambit.  How did we arrive at this success formula?

We discovered, after studying 4 previous years of successful closings, that the Price of the propery offering, the Terms of financing for the buyer made available by the seller and the Condition of the Property were the elements of a listing and marketign plan that drove the 160/161 success percentage of 99.38%.  

When teaching a course on marketing, this question is often a turning point in the attendees' learning process: "Do you think that listing prices are right on,  low or high? A resounding near 100% answer, "High, of course! DUH - LOL, teacher!"

When asked why listing prices are high, some floundering occurs until the commission value is introduced to the discussion of pricing. Once that element is in play, about 85% conclude that the effect of a higher than "correct-for-closing listing price" disguises the commission number/value and moves the transaction to a "how much down and how much a month" discussion where the cash amount of commission value is diminitive.  The remaining 15% of the learners can't take a position because their 4th-5th grade math skills ~ solving for X ~ are poorly developed but after a quick refresher using simple circle math formulae, the move to the side and shout, ""High, of course! DUH - LOL, teacher!"

So, "Would I ever list a home for exactly $218,00?"  

First, the adverb 'exactly' applies to any listing price so I don't understand the inclusion of the word in the question.  But to answer the question without concern for deleting "exactly" in the question, of course I would list a home at $218,000 if the price is correct at $218,000, which leads to a correct D/P/E (down payment or equity on an assumption of owner finance), a correct PP estimate (pre-paids) and correct CC estimate (closing costs). Those three, D/P/E, PP & CC = Total Move-in (TMI).  With the proper listing price based on what "lenders" will appraise the property for and depending on whether the situs is or is not in a "pay-above-appraisal-market", by starting at $218,000 IF IT IS THE LENDER'S APPRAISAL VALUE, you will have a timely sale and correct TMI estimates.  Records from the year of 160/161 listings SOLD/TAKEN show an average time on the market to 45 days with 66 days to close.  Why would we change that successs.

Any other "pricing" scheme is exactly that, a scheme that even novice buyers figure out after a quick read of "Green Eggs and Ham" by Dr. Seuss.  In today's day of unfiltered internet over-data, the trusted licensee trumps any discussion of "increasing" matching leads in pricing brackets.

But then, that's just my experienced opinion.

Philip from Lubbock

pschoewe@gmail.com

806-794-5557 Live Landline

806239-5559 Text/Talk

Yes, if the comps valued the property at this price level. 

I would list a home any day of the week for $218,000.00 - UNLESS it was only worth $199,000.00.

Turn away a listing 'cause it wasn't "rounded off" - NEVER

I will list a home for whatever price I believe is the BEST asking price.  What I would not do is list a house at $218,001.   That does not make sense.  And in most cases, if the house was reasonably priced at $218,000 i would probably list at $220,000 because buyers buy in increments of $5 and $10,000.

I'm not an agent any more, but...

I'd do it if the seller insisted, but think it's wiser to list on the "edge" of a search parameter - so lookers on both sides see it. 

Back when we used big fat books it wouldn't have mattered, but now that people do online searches, I would no longer list for $219,000.