The Power of Demand Based Pricing
Have we hit a hard ceiling on pricing in the country?
According to a recent study the number of homes receiving over full price has fallen dramatically. In addition the appreciation rate has slowed to 3-4% in many areas of the country. Here are some numbers that provide some insight:
- The share of U.S. homes that sold for more than their list price in 2019 fell to 19.9%, the lowest annually since 2016.
- Homes that sold above list last year typically brought in $5,100 more than the asking price, down from $5,500 the year before.
Even with record low inventory and strong demand buyers are now resisting higher prices. Why? One reason is income, over the past twenty years incomes have been relatively stable with very little growth.
So how can we help sellers navigate the changing market landscape? One way is to explain demand based pricing. Watch the video to learn how identifying and explaining buyer demand to a seller can help them position their home to attract more showings...
Fresh Ideas. New Scripts. Cool Trends. Fun Times.
Named one of the Top 30 Real Estate Blogs by Feedspot don't miss your opportunity to stay current on market trends, scripts, interviews, and articles.
Ready to Grow Your Brokerage or Team?
Our Leadership & Brokerage Coaching program is tailored to address key areas such as recruiting, retention, culture building, training, support, marketing, technology, and profitability.
In two one-hour monthly sessions, you will dive deep into these topics, guided by a core curriculum of ideas and unlimited time for questions and idea-sharing. These small group sessions provide a unique opportunity to connect with other like-minded office leaders, sharing experiences, and supporting one another's growth. You are encouraged to bring guests such as staff, sales managers, and ownership teams to these events.
To ensure maximum accessibility and convenience, every session is recorded, and comprehensive notes are provided for your reference.
Recent Posts
