Portland Metro/Tigard Real Estate News

In this forum we will offer discussions on a wide variety of subjects, but focus on Portland Metro and real estate. Hopefully our insights and experiences will inform, educate, challenge and entertain our readers week after week.

Thursday, January 24, 2008

Get The Most Traffic For Your Listing

Some common mistakes are made when putting up a new listing, and while they are things that may not seem like a big deal, can seriously hinder the possibilities of an offer.

First off you should not put a listing up that is overpriced. A study found that listings that never reduced their price received 97 percent of the initial list price. Homes that did have a price reduction before selling sold for 88 percent of the initial price. It is likely that the difference is greater than the amount of the price reduction.

Set up your selling price with price benchmarks in mind. A listing price of $355,000 will be viewed significantly less than one priced at $350,000 because people do their online searches with parameters of 250k - 350k, for instance. Using these price "bands" in your favor can make all the difference. If you are already close to the bottom of a price band, dropping it by that little amount could increase your online activity by as much as 7.1 percent.

Lastly, it is apparently a good idea to put your listing up first thing Friday morning. The web traffic can actually be improved by 7.7 percent. I would assume that people are preparing for house hunting on the weekend and I don't know about you but I find myself more attracted to brand new listings. It's that feeling that you found it first and could discover a deal.

These are probably not hard and fast rules but test them out, see if it's true for you.

& OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com (make sure you leave comments)

Tigard Real Estate

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