List Low? Sure. Listing at $1? Never.
Do you wonder about the so-called $1 listing strategy? That’s a desperate gimmick. Everyone knows the property won’t sell for $1, making the approach lazy and even cheeky. Instead of generating real competition, it cheapens the property, stigmatizes the listing, and lowers the seller’s leverage.
Listing low isn’t necessarily bad for a seller, if not too far off the rails. It can feel nerve-wracking and nauseating for sellers. Still, it brings more interest, conversations, and more offers to negotiate within the right market. (It is hard to negotiate with no one.) However, this can be frustrating for uninformed buyers or those without a knowledgeable agent, leading to unrealistic expectations and confusion about a home’s market value.
This is a good segue to “Sold Over Asking” signs—they’re unpleasant to my eye for this very reason. Of course, when a home is intentionally underpriced, it sells over asking. To me, the representation feels dishonest and speaks down to the public.
MLS listings have a proper history that tells a story with data. It shows how the home was positioned in the market, how it was valued, and how it ultimately sold.