I believe you lose a lot of possible online matches if you use the law of nines.

I typically try to do the round numbers, at least at first, but it doesn't always happen.  At 200, you get the people looking from 150-200 and from 200-250.  When I work with buyers, I usually search 5k above and below the range to catch the ones that might work but are just outside the scope... but not all agents will do that.

I do just the opposite and price in round numbers.

Round numbers work better for real estate searches.

I go for the evens so that I pick up the buyer searching in the next increment over mine - I will price at 200 rather than 199 because then I get buyers looking from 150-200 and 200-250

Used to use nines, but have preferred even numbers lately!

Dorie Dillard I've always listed in round numbers.

I just price it best I can and then market the heck out of it - works every time :)

My clients tend to go with 0s or 5s rather than 9s.

Dorie Dillard I prefer law of '000'...lol

999 sounds NEIN NEIN NEIN -no no no....

I prefer the even numbers.

I sometimes have my sellers price at $189,889 so there home will show up first in a search.

Yes Dorie I do and always have. Odd numbers also work better for me.

I advise my Sellers to work with even numbers but they don't always agree

I do not use the law of nines.  I am more in alignment with Ryan Huggins - Thousand Oaks, CA 

I search 5 thousand higher for my clients and narrow from there. When listing I don't use 999

I've heard it said that unusual numbers wind up being more visible. I always liked using round numbers, but the "nine" thing does make the price look cosmetically lower.

I don't. The reason is I never search by range. I usually search for all homes below a certain amount that has most of the required criteria.

No

Hi Dorie - We've talked about this a lot over the years and haven't really been able to detect much difference. We're not using 9's now because the math is easier :)

Our MLS did research and determined that homes priced on the 9's don't get seen as often as those priced on the zero's, so for that reason alone, I never advise pricing a home on the 9's, as we want as much traffic through the home as possible.

I let the seller "choose" the price.  As long as it is in a realistic range, I'm okay. Some people love numbers, I like them too especially when they are collecting and growing in my bank account.  

Is it true that JC Penney invented the 99 cent concept, to force his clerks to open the cash drawer for the penny change, which recorded the sale on the cash register tape, and prevented the clerk from pocketing the dollar bill?

I am surprised that the search functions in the mls systems have not developed a buffer for these by now.

199,900 is the way to aways go I say!!!

What Ryan Huggins - Thousand Oaks, CA said...

Dorie great questions after a great deal of thought I use the SWAG method of pricing... just kidding, I prefer $179,900 type listings unless the seller over rules me...Endre

No I don't.

Interesting discussion Dorie Dillard that I have not heard in years.

i waiting for the answer to who came up with .99 cents instead of one dollar or $9.99 instead of ten dollars.

I have to agree with you, but then as an agent searching, I will stretch my price parameters to include those properties that a seller might miss. 

Sellers like that nine hundred or nine fifty number. I base my recommendation on the individual property and what the competition is.

Its like car dealers only 19,999.00 I just round it off. LOL

Well, if these is nothing good in $50k+/- segment, we extend a bit more. 

No nines... but all are welcomed.

Dorie,

I am in agreement with Michael Jacobs .  We had a client that was into 8.  A

 I go with the zero.

Dorie,

I try to say with the 000's and search for buyers about $10,000-$25,000 beyond their price range. You will more likely get a double dipping search if you stick with the 000 law:)

Our builder does and most people round up and so do I .

I follow Praful Thakkar and use sthe law of 000.

I don't advise it, particularly the dangling $900 at the end.  I honestly don't think it matters where you turn up.  What does matter is pricing yourself to be the smallest of larger or better homes.

Interestingly enough, I looked a year's worth of listings that had sold in my neighborhood (about 300 listings) and found that those priced with the dangling $900 rarely got the next number up.  For instance, $224,900 didn't get $225K.  However, $225K was way more likely to get $225K.  Not what I expected to find, but it was interesting.

I have been using $XXX,500 lately.  It's kind of cute. It stands out a little, since everyone else has been using the 9s.

I don't since it isn't a law and since I was a former retail stores owner it drives me crazy anyway.

That makes sense, Dorie.  Smart.