How To Get Price Adjustments In A Changing Market? - Magic Minute Season 3
Getting price adjustments, aka price reductions, is something that is just brutal and we all dread it.
So, here is a tip to approach your sellers in a logical and educational way, in order to make the price adjustment not seem like the mammoth task it seems.
I remove my opinion and let the numbers do the talking. It’s just like pricing a home before it’s on the market.
Use facts and not emotion. When we are in a market that is in flux, data in sales is always best when it’s fresh. So, if something hasn’t sold for 2/3 months look up what’s comparable around it and present your findings.
Also, I always use terms like “let’s put our price in a more competitive arena,” which is less daunting than “let’s do a price drop.”
Thanks for watching and being part of the rebellion!