The Psychology of Pricing

5 Insights into PricingAny study involving pricing should be interesting to real estate agents. After all, pricing is a vital part of the marketing of a home. How many times have you tried to (gently) make a case for a price reduction with a client who couldn’t stomach the right number from the start?

The following series of studies doesn’t deal directly with home pricing, but it does provide some rather unexpected insights into the psychology around various pricing structures and models. They might just open your eyes to some of the models you see online and in retail stores.

From the article, the following topics:

1. Comparative Pricing: Not Always Optimal
2. Selling Time Over Money
3. Effect of “Useless” Price Points
4. The Power of Number 9
5. The Price Perception: Context Matters

Check out the must-read details here:

Photo credit: timparkinson


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