Property Selling Tips
Click the play button below to listen and
discover how silent auctions work.
Alternative content
Bait Pricing
YOU MUST NEVER ALLOW AN AGENT TO USE A FALSE LOW PRICE TO ATTRACT BUYERS TO YOUR HOME.
This highly deceptive form of selling may be sold to you as a "new way of selling" By Negotiation, Offers Above, Price Guide, Set Sale.
The agent may say that offering a lower price "attracts more buyers". But it attracts buyers who only want to pay a lower price. The lowest price they see is the highest price they will want to pay.
Bait Pricing also does severe damage to the value of your home because it creates the impression that your home is worth less. Even buyers who could afford to pay more for your home will still want to pay the lowest price mentioned.
By using bait prices, agents commit a dreadful marketing blunder. It is a basic principle of marketing that you must market your product to buyers who can afford it. If not, you can easily be forced to sell under pressure at a lower price.
Your solution
"But, whatever they call it, it's just BAIT PRICING."
IF AGENTS CHEAT BUYERS, they will cheat sellers too. You should not even contact an agent who is using Bait Pricing. Avoid them completely.
If you want the best price for your home, the first thing you need is buyers who can afford to pay the best price for your home.
