Are you sure you want to delete your account?
You have indicated you do not agree to our terms of use, do you wish to delete your account?
Login
person
lock_outline
Why not sign up?

You will also be registered for the agent to contact you via other means you provide, with information relevant to your property search.

Register
There was an error creating your account, please try again. If the problem persists, please contact us and we will investigate.
Password does not match
How would you like to be contacted?

Psychological pricing no longer works.

If you spend time searching for property online you will notice a good number of homes still being marketed using “99” style psychological pricing to make them appear better value. This includes tactical reductions of £5, £50 and sometimes even £5,000 or £55,000 on larger homes.

This approach may have had a positive effect before the digital revolution but in the era of zoopla and rightmove it makes little sense. Here’s why:

  • It shrinks the audience. Buyers searching online are forced to filter their searches by price using round numbers. This means a property pitched at £499,995 rather than £500,000 will not appear in the results for buyers who are searching between £500,000 and £600,000 for example.
  • The property becomes harder to find. Properties priced at round numbers that match the defined price brackets will be more likely to appear on the first page of a buyer’s search results where they are more easily noticed.
When setting asking prices it’s time to do away with old-fashioned pricing techniques in favour of hitting those important round numbers.