Do you know what price your property is currently being marketed at? The exact price I mean? For example, is it £400,000 or £399,950? You might think, so what? It’s the old £99.99 under £100 syndrome, however the difference here is more important than you might imagine, I’ll explain why:
If your property price ends in anything other than three zeros, you could be missing out on search traffic on Rightmove, and the other property portals.
First, I would like you do something – go to www.rightmove.co.uk and do a search for your property. Found it? Good. (if you aren’t on Rightmove yet, just pick a property). On the drop down price search on the left of the page, you’ll see a list of prices. Is your property’s asking price listed here?
Rightmove doesn’t conduct an intelligent search
You see, Rightmove doesn’t conduct an intelligent search. If your property is on the market at £399,950, it just won’t show up in a search that starts at £400,000. In other words, your property will be invisible to all those buyers who actually might have more money to spend and when you think Rightmove attracts upwards of 150 million prospective buyers a month, that is potentially a huge market to be missing out on.
However, if you price your property at exactly the same as one of the prices listed in the drop down box, you will actually appear in at least two searches. For example, if your asking price is £400,000, you will show up in a search from £375,000 to £400,000 and also in the £400,000 to £425,000 search.
The lesson here is this – to make sure your property appears in as many searches as possible, price it at exactly a price point that Rightmove uses. When you do this, you effectively double the number of people who will see your property in a search and it stands to reason a much better chance of a sale with the increased exposure.