Comments on: $549,999 is A Better Price for Your Home Than $550,001 (5% Better) http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html Redfin Corporate Blog Sun, 22 Nov 2009 20:09:04 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: company plano life stonebridge insurance http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-5066 company plano life stonebridge insurance Fri, 09 Jan 2009 19:00:52 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-5066 insurance life company stonebridge valley http://www.twine.com/user/cedrick4600 insurance life company stonebridge valley http://www.twine.com/user/cedrick4600

]]> By: Mike Pannell http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-3618 Mike Pannell Wed, 27 Aug 2008 15:12:15 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-3618 I think it is great information. I just talked to my listing agent about this. I think this might help. I think it is great information. I just talked to my listing agent about this. I think this might help.

]]> By: Metrowest MA Real Estate http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1961 Metrowest MA Real Estate Wed, 24 Oct 2007 02:21:53 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1961 I agree with you pricing analysis, however, I am not sure about your statement regarding most websites not allowing you to search in less than 25k increments. I have not found this to be the case. It certainly does not work that way in my site or in most of the sites I have seen in Massachusetts? I agree with you pricing analysis, however, I am not sure about your statement regarding most websites not allowing you to search in less than 25k increments. I have not found this to be the case. It certainly does not work that way in my site or in most of the sites I have seen in Massachusetts?

]]> By: Tom Swell http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1938 Tom Swell Mon, 22 Oct 2007 07:37:58 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1938 Well I guess I haven't seen ALL the blogs yet. That was an interesting study, although of doubtful statistical significance. I think Redfin’s mad scientist, Mose Andre may have a little too much time on his hands. BTW in my blogs, I ignore anything less than $1000 in house prices. I round up or down depending on the random number generator in my microwave oven or the phase of the moon (more than half full tonight). Well I guess I haven’t seen ALL the blogs yet. That was an interesting study, although of doubtful statistical significance. I think Redfin’s mad scientist, Mose Andre may have a little too much time on his hands.

BTW in my blogs, I ignore anything less than $1000 in house prices. I round up or down depending on the random number generator in my microwave oven or the phase of the moon (more than half full tonight).

]]> By: Glenn Kelman http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1914 Glenn Kelman Sat, 20 Oct 2007 23:00:01 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1914 Good point Tom. Have you seen this post: http://blog.redfin.com/blog/2007/03/pricing_advice_make_the_last_3_digits_-500.html I think your argument explains our earlier finding about what the last three digits of a price communicate to a potential buyer. Good point Tom. Have you seen this post:
http://blog.redfin.com/blog/2007/03/pricing_advice_make_the_last_3_digits_-500.html
I think your argument explains our earlier finding about what the last three digits of a price communicate to a potential buyer.

]]> By: Tom Swell http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1897 Tom Swell Sat, 20 Oct 2007 06:18:08 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1897 There's another thing to consider. Some of us have learned that prices that end in 99 cents or 99 dollars are usually posted by questionable sources. If you buy something from your brother, your neighbor, your co-worker, etc it almost always has a nice round number. It's the petroleum companies, the discount stores and the used car dealers that perpetuate the 99 cent insult. I have to admit that it works on a lot of people who instinctively round the number down, but it is so insulting to a few of us that we might refuse to do business with the seller. There’s another thing to consider. Some of us have learned that prices that end in 99 cents or 99 dollars are usually posted by questionable sources. If you buy something from your brother, your neighbor, your co-worker, etc it almost always has a nice round number. It’s the petroleum companies, the discount stores and the used car dealers that perpetuate the 99 cent insult.

I have to admit that it works on a lot of people who instinctively round the number down, but it is so insulting to a few of us that we might refuse to do business with the seller.

]]> By: Glenn Kelman http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1827 Glenn Kelman Mon, 15 Oct 2007 14:25:35 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1827 Reuben, you are correct. Assuming other sites filter price this way, your strategy is optimal. Reuben, you are correct. Assuming other sites filter price this way, your strategy is optimal.

]]> By: Reuben Moore http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1811 Reuben Moore Fri, 12 Oct 2007 17:32:27 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1811 Thanks Cynthia, So my question becomes, if the seller is considering a price of $551,000, instead of lowering the price to $549,000, why not lower it to the break point and have the property show up in both searches for maximum search exposure? Thanks Cynthia, So my question becomes, if the seller is considering a price of $551,000, instead of lowering the price to $549,000, why not lower it to the break point and have the property show up in both searches for maximum search exposure?

]]> By: Cynthia.Pang http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1810 Cynthia.Pang Fri, 12 Oct 2007 17:20:19 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1810 Hi Reuben, The short answer is yes. On Redfin, when a listing is priced at $550,000 it will show up when the search parameters include $550,000. Hi Reuben,

The short answer is yes. On Redfin, when a listing is priced at $550,000 it will show up when the search parameters include $550,000.

]]> By: Reuben Moore http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html/comment-page-1#comment-1800 Reuben Moore Thu, 11 Oct 2007 12:18:54 +0000 http://blog.redfin.com/blog/2007/10/549999_is_a_better_price_for_your_home_than_550001_5_better.html#comment-1800 Hi Mose, I meant, if the seller prices a property at $550,000 - Would it show up in both the $500,000-$550,000 search and the $550,000-$600,000 search? Hi Mose,

I meant, if the seller prices a property at $550,000 – Would it show up in both the $500,000-$550,000 search and the $550,000-$600,000 search?

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