Price Reductions
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HOW WILL I KNOW IF THE PRICE ADJUSTMENT WORKED?<br />
1. You’ll see a measurable increase in ‘Hits” in the MLS<br />
database. (public vs agent)<br />
2. You’ll see a measurable increase in showings: [2-3 within<br />
the next 10 days]<br />
3. You’ll receive an offer within the next 10 days.<br />
HOW WILL I KNOW IF IT DIDN'T WORK?<br />
1. You received 0-1 showings the following week.<br />
WHEN WILL THE MARKET TURN AROUND AND HOUSES<br />
START TO APPRECIATE?<br />
1. When the market supply (inventory) shifts and holds at 4<br />
Sellers to 1 Buyer.<br />
2. When unemployment drops significantly.<br />
AS MY AGENT, WHAT WILL YOU DO IF I CHANGE MY PRICE?<br />
Seller needs assurance that you will take effective action.<br />
1. I will contact all of the Agents that viewed the property to<br />
date.<br />
2. I will note the price change in the ‘Remarks’ eld for 5<br />
business days.<br />
3. Implement reverse prospecting<br />
4. Preview the competition at that new price point<br />
5. Whatever else you do that is effective<br />
# 5
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