Why Things Cost $19.95: Scientific American - The Diigo Meta page

• 22 May 08
  

  David Burnstein

  Real Estate Psychology

  • They looked at five years of real estate sales in Alachua County, Florida, comparing list prices and actual sale prices of homes. They found that sellers who listed their homes more precisely—say $494,500 as opposed to $500,000—consistently got closer to their asking price. Put another way, buyers were less likely to negotiate the price down as far when they encountered a precise asking price. Furthermore, houses listed in round numbers lost more value if they sat on the market for a couple of months. So, bottom line: one way to deal with a buyer’s market may be to pick an exact list price to begin with.
  • They looked at five years of real estate sales in Alachua County, Florida, comparing list prices and actual sale prices of homes. They found that sellers who listed their homes more precisely—say $494,500 as opposed to $500,000—consistently got closer to their asking price. Put another way, buyers were less likely to negotiate the price down as far when they encountered a precise asking price. Furthermore, houses listed in round numbers lost more value if they sat on the market for a couple of months. So, bottom line: one way to deal with a buyer’s market may be to pick an exact list price to begin with.
• 19 May 08
  

  stateless

  research money economics theory negotiation psychology

• 29 Apr 08
  

  Brendan M

  psychology pricing prices

• 16 Apr 08
  

  Nitin Badjatia

  Interesting article

  pricing theory

• 10 Apr 08
  

  giorgosn N

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