Lowering price $100?

[thatguydownsouth]

Originally Posted by dblackga

It's usually not monthly. It's usually every day, or every two or three days.

The person I quoted said "they do this every month"

[mjd07]

The practice of doing this kind of thing really annoys me. I stopped getting alerts from Zillow because of it. Quite honestly, I never understood why people can't just look for the houses they want without being treated like they are stupid idiots that only search the first page. I mean, if I'm interested in buying a property and truly want to move, why wouldn't I turn over every stone? I'm not going to stop on the first page. No, I might not make it to make 1,557 but I'll look through a good hundred or two.

We listed our house in a Chicago suburb with a Realtor and had feedback that the floors needed to be redone. I thought they looked fine but we agreed to have them redone. The contractor said it would take about four days for his team to finish all the floors and air the place out. I wanted to just keep the listing up and tell any potential buyers that the floors were being redone. My Realtor was insistent on taking it off the market so she could relist it as "new" after those four days. As a buyer I would not reject a property that wasn't available the exact moment I wanted to see it. A few days wouldn't deter me at all.

I just think it's deceptive marketing and I know that works for some. I just don't personally like and try to avoid anybody that plays those type of games.

[thelopez2]

Shouldn't you address this to Zillow so they can change their practice?

[lae60]

Originally Posted by thatguydownsouth

If theyre doing this monthly then it would seem that they have a high DOM. Any realtor/buyer would see that high DOM and know that the asking price is too high for the market and the sellers are completely out of touch. I saw this a lot when I was house hunting. On most sites you can see the listing history and if this marketing strategy bothers you then you can avoid these games outright.

yes, the house is over priced and has been listed for 3 years. Very nice house, but over priced. I bought a different one, but do like that one better

The owner is upside down and has to sell it for that amount to break even. Maybe in 5 years they will be competitive.

[AnywhereElse]

Originally Posted by thelopez2

Shouldn't you address this to Zillow so they can change their practice?

The idea of dropping the price generally comes from the realtors. Ours suggested that and it just seemed to stupid and insulting to bother with. "Price Reduced" when it amounts to $100.00, well, I never bother looking again since we play games when it comes to money. Seriously, $100.00 drop is nothing since if you couldn't negotiate the price down that much in the first place, it is incorrectly priced.

[King_of_DC]

Originally Posted by LisaCola

For the second time in two days I received an instant update email from Zillow on my saved search. Listing price has dropped $100.

Seems obvious to me that it's a ploy to get exposure, but I personally find it an annoyance and wonder if others feel the same. Obviously a $100 price decrease on a $200,000 house isn't going to sway me toward that house.

I love getting Zillow updates on houses in the markets in which I'm buying and selling, but these $100 reduction emails feel more like spam.

I've been looking for a while... every now and again I see a house pop up like that and I go "wow, I forgot about that one". Then I look over it again to see if I changed my mind.

Things change with buyers... I can see this if the house has been on the market for a number of months. Although, I think it should be a larger slide... Doing it every week would seem a bit odd.. not seen that.