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Crunching Numbers? Here's the Latest on Real Estate.

What’s in a Number? Get More Sales with Number Psychology

Selling or buying a piece of land property, such as a house, is usually the biggest financial decision that you will make in your lifetime. With the high stakes of the transaction, a host of psychological factors come into play that decide the price at which the property is to be sold. You can also use a basic knowledge of psychology to set the price for the property that guarantees the maximum chance of a successful sale:

1. Say no to the 99.99 dollar habit

There’s a myth as old as business itself that removing one unit of currency from the price will convince buyers they’re getting a bargain. This old wives tale is about as helpful for procuring a sale as getting a ritualistic cleansing performed on the house by a gypsy witch to attract more buyers to it.

In the new online world of price searches, listing your house in such a manner will exclude it from the searches for houses that actually fall within your price range.

2. Forget Commas

Putting commas in between the rows of zeroes for your price range draws extra attention to the zeroes, whereas removing the commas fools the buyer on a subconscious level into believing the cost is lower than it actually is.

3. Avoid Round Numbers

Assigning your price in terms of odd numbers (eg – 170470) gives the impression that it is a more closely calculated and thus, final, price offer than if you use round numbers ( eg- 170000).

4. ‘Zero’-ing in on a Discount

While letting your client know about a discount offered on a property, make sure to write out as many zeroes as possible to give the impression of a greater discount price. Saying your client is getting a discount of $10000 dollars doesn’t sound as impressive as saying the discount is for $10000.00. The client will unconsciously associate the extra zeroes with a greater discount price.