An Appraiser’s Mind

Collectively, the agents we interviewed share a standard of accurate and appropriate pricing, but as individuals striving towards a common goal their methods sometimes differ.

“I price it according to what’s appropriate, unless the seller insists on a lucky number they want to include,” said Giordano, who regularly handles international clients.

She explained that in some cultures, numerology is of particular interest as certain numbers hold grave and superstitious meanings, and catering to those cultural sensitivities is imperative in a market so heavily dependent on international interest. In a 2014 NAR profile of international homebuying activity, Florida was ranked the No. 1 state in terms of international buyers.

For example, in both China and Japan, from where Miami draws many of its international buyers, the number four is regarded in much the same way Americans view the number 13; it’s unlucky. As such, Giordano works to keep sensitive numbers out of properties she knows are likely to attract international interest.

Morales has similarly tweaked prices for a better response from buyers, but instead of appealing to buyers’ superstitious side, uses over and under pricing as part of a larger negotiation strategy.

“I sometimes price a bit above in order to give myself room to negotiate,” he said. “But that depends on how many similar properties are currently on the market.”

In the event a seller is in a hurry to unload their property, Morales said he will go the opposite route and slightly underprice the home to make it more appealing. Whatever way the strategy goes, he’s always careful not to go too far in any one direction, as accurate pricing is still the preferred method.

“I want my sellers to receive serious offers based on a serious price that takes into account the true value of the home,” he said. “I believe that is the professional way to handle clients.”