Why Would a Realtor Lower a Home Price By $100 (or less)? (appraiser, agent)

[dothetwist]

Been watching some homes in a particular area on Zillow. In the past few weeks I noticed 3 homes which were lowered by $100 (one actually lowered only 90 bucks!). These are homes in the 300K to 400K range.

What is the strategy....I am thinking it has to do with getting the listing to pop up faster on some sites?? Or???

[MikeJaquish]

Because that price decrease gets the revised listing auto-emailed again to people who have subscribed to updates from the MLS.

[Spuggy]

Revised listing get shuffled back to the top of sites like Zillow

[dothetwist]

Originally Posted by Spuggy

Revised listing get shuffled back to the top of sites like Zillow

It definitely does NOT get shuffled to top of Zillow whether searching by New or Price.

But I understand what the Realtor said and that makes sense. Thx.

[Rakin]

Originally Posted by dothetwist

But I understand what the Realtor said and that makes sense. Thx.

Yes it will be emailed out as a Price decrease to anyone who's criteria meets the house no matter how small the decrease. I've seen some agents do $1 and $100 which is silly.

If you need to lower the price, lower the price and get real.

[Meemur]

Or, better yet, price it correctly the first time and wait.

One company in my area routinely prices houses 5K above what they should be so that they can knock off 1K every couple of weeks. As a buyer, I think that is stupid, and as a seller, I told my agent not to do that. My house still sold the first day it was listed. It is a good house in a hot market, and it was priced correctly. I had zero problems with the appraiser.

Reserve game playing for computer games, not real estate transactions.

[chet everett]

Originally Posted by Meemur

Or, better yet, price it correctly the first time and wait.

One company in my area routinely prices houses 5K above what they should be so that they can knock off 1K every couple of weeks. As a buyer, I think that is stupid, and as a seller, I told my agent not to do that. My house still sold the first day it was listed. It is a good house in a hot market, and it was priced correctly. I had zero problems with the appraiser.

Reserve game playing for computer games, not real estate transactions.

Really? $5k? Are homes consistently selling AT ASKING PRICE IN YOUR AREA?!?!

[BoBromhal]

unless the house is 50K, 5K shouldn't make much difference

[Winter Sucks]

I've actually seen a few properties go UP in their sale price!

[BoBromhal]

^that doesn't tend to work very well. But it happens often enough that I haven't been surprised by it in the last 15 years