that's absurd..... no it's not, it's stupidity...

Somebody likes to play games.

Does not say much about their pricing strategy if there is that much room to play with the price.

In that case I will make an offer subject to $1K reduction daily until the final price is $1K.

No not recommended....  

This tactic screams of desperation.

Carla Muss-Jacobs, Principal Broker (503) 810-7192 - nice answer in picture from Thomas J. Nelson, Realtor,CRS.

 I seen this tactic before and it never turns out to be a good deal for the seller ....

I jsut had a seller want to try it.  Told him it would not work and it didn't, but it did make him trust me more.

I've seen it work !

I don't think this is a good strategy- homes are not flying off the market where I am - the median days on market is 90. So that would mean, $90K off the list price, which would be about a 1/3 reduction in price based on our average sales price.

Bad idea.

Not my way of thinking and too gimmickly. If I do price reduction allowances it is every two weeks and I get the seller to sign an agreeement before listing.

  Not my style.  Sounds desperate.

I guess it's better than advertising a price reduction from $499,999 to $499,995. What ever floats your boat.

Carla,

I think Barbara Todaro expressed it well.  A

So much for playing things close to the vest. I say it's not a good plan, just do it & shut up or the buyer will just wait until ?? 

There's an agent in my area that has been reducing his listing $500 every 7-10 days or so to keep in in the price change category.

good for a Buyer, poor for the Seller

I think everyone will wait a few hundred days, I know I would! 

To me, there is no insentive for me to put in an offer today, if I can save $1000 tomorrow. If I like the house, I'll check every day and wait for someone to make and offer, then I'll put in an offer. While, I may pay a little more, I most certainly come out ahead by saving $1000 per day

Holy Crap ... that screams fire sale to me.  Not a strategy I would use. 

The gambler in me is curious how this would play out, but I wouldn't want to do something so desperate with one of my listings.

I would not use this strategy. I do not care what others do.

Mixed message to...... wait & buy?

Carla Muss-Jacobs, Principal Broker (503) 810-7192 This is a poor pricing strategy. When everyone holds out for a bottomed out price only the seller loses.

I remember seeing something like this in the past and thought it was an interesting(and poor) pricing strategy.  

The gambler buyer may win, but the seller could be a big loser! Not great marketing strategy!

Not a good strategy.

Sounds weird to me and I can see a lot of buyers who would sit on their hands waiting for the price to drop each day.

It screams for a low ball offer!

Interesting, but not one that I would employ...

It screams desperation to me.

I am with you but some sellers want to go at it slowly

I think it is aggravation to everyone that has a saved search as it shows up everyday.  It's not really fair but it is legal provided the seller has a signed modification of terms stating this is their wish.

I guess it could work if you have enough margin to work with... and a deadline for offers.

Have not seen it; don't like it.

I watched a particular bank property for a client that was not ready to make an offer at the listed price.

The bank reduced the price $10,000 the first of each month.  Month 5, the buyer was thinking seriously of making an offer, except someone else bought it.  Then my buyer bought a house on the same street...not quite as nice, but had to pay more.

I don't know what to think about this pricing strategy...except it seems like a lot of work for the agent.

Eve 

No, because it will just delay offers. i would just pick a price that the selelr can live with and drop it that. it will take them 10,000 days to do a $10,000.00 price reduction.

I have seen this before and to me it seems more like an auction. I suppose it works but I woudl never suggest it to a seller.

Carla Muss-Jacobs, Principal Broker (503) 810-7192  I don't think, it is a good idea.

sounds to me like it's ALOT of work for you!  If the seller is serious about selling, make a significant price reduction so that the buyers will fight over the property.

I'd say it's a poor pricing strategy, especially if they're actually advertising it that way.  I have seen a few listings that get a price reduction of $1K about once every 1-3 weeks.  I've also seen a rental listing that was reduced by $1 (yes, one dollar) every day until it got rented.  The only benefit I could see to that is that it automatically alerts agents who've programmed the MLS to send them an email for that neighborhood or price range (which it'll do whenever there is a price change or status change)... so you'd receive an email that includes that listing every day until it gets rented.  Annoying but it essentially means it's email blasted every day.  More free marketing.

Someone is doing a diservice to themselves and their clients.

I have seen this happen  in down years but not now.

I have never seen that, but would think it would be a risky pricing strategy.

I've seen this work... It is a tatic used simply to get the home to show up in those automated emails that clients get set up on thru the MLS each day

Barbara Todaro nailed this one!

Not into gimmicks myself - but lowering the price will certainly sell ANY property once the price point is reached

That strategy is so disrespectful to the seller that I am suspicious there is something really wrong with the house, because it obviously can't tolerate the calm, collected, full-light-of-day scrutiny that other houses can.

I don't see that it works in the best interest of the seller: it invites low-balled offers that are equally disrespectful.  As a seller, if my listing agent ever proposed that to me, I'd ditch him or her immediately.

Any agent who has serious thoughts about that listing strategy could really use a good stager.

There are many pricing strategies.  For reasons known to the seller and listing agent, they must think that it is a good one in their specific situation to meet their goals and objectives.