Do you hang swingers on your yard signs when you adjust the asking price of one of your listings? I, personally, do not do this because I think it screams out to the consumer "Look!! I priced this house wrong to begin with, but come by and check it out now!!"
Yes, I understand that in today's market, as a listing sits longer and longer, we need to be providing our sellers with updated comps at least once a month, in which that might warrant a price adjustment. I never use the word "reduce" when talking with my sellers. I always say "adjustment."
So, back to the subject line... when I'm walking or driving around the different neighborhoods, the most common swingers are "Price Reduced" and "Reduced Price". I go back and forth on which one sounds better than the other. The Reduced Price sounds more like a sale price, like when you go to a car lot and see all the red tag stickers on the cars and advertising that says reduced price. Price Reduced just doesn't speak to me as a consumer like the other.
This sign definitely jumps out at me when I'm shopping... maybe it would work on a house also:
Any thoughts on why it's good to use these swingers? Which one do you use if you use one? There is one in my neighborhood that says "New Low Price". It's not low, it's still a little high, but does that hit a nerve with a consumer to check it out?
Let me know what you think!
Hi Donna,
I agree with you by hanging sings on your sign about price reduction in saying "Look!! I priced this house wrong to begin with, but come by and check it out now!!" also I always say say "adjustment."
Anthony
Donna, Julie expressed my sentiments exactly.
Keep all of the extra junk off of your signs. When one is tempted, he should look up the meaning of "decorum," then practice it.
There's a company around here, as you know Donna because you're here in Dallas, too, who uses a great sign...it's the right size, the graphics are good and the signs are clean, and they are never trashed up. It's Virginia Cook. For my money, Ms. Cook has it figured out. Her signs don't trash up her listings.
I think mine are nice, too, but they still aren't as good as Ms. Cook's.
How about something more PC, like:
Price Correction!
Or maybe be creative and use a variation on what some of us may have heard just prior to getting into Real Estate in the first place -
Price Right Sized!
Its all semantics either way - dont look at it as an indictment of your pricing. Remember, the pricing decision is not the sole decision of the agent. The sellers are involved too. It is a team decision. If you dont collaborate with them they might just find someone lese to be part of their team.
Julie, I wish!! Many places are advertising BOGO sales these days.
Cindy, I don't own one either, but my sellers will sometimes ask why they don't get a sign like that in their yard. I tell them we're not wanting to spread the word about how motivated they are...
Anthony, THank you!
Roy, You don't think "New Price" also screams out that it was priced wrong to begin with? Though I do like the iPhone analogy Jennifer mentioned.
Bill, Granted Virginia Cook doesn't use many swingers, but her actual signs are too busy for my eyes to capture my attention, if I were a plain Jane consumer. But, this is also one of the reasons why I don't like swingers on my signs and why I don't use them, because I like the clean look... They can see my contact information much more clearly.
Jennifer, I do like your iPhone analogy... It's interesting because they were making a killin' at the higher price. Why would anyone want to reduce their profits if the consumer is willing to pay that price? It's almost like saying, Mr & Mrs Buyer, I know we're under contract for $400k, but we've decided to go ahead and sell it for only $350k. Would you like to draw up the new contract or should I?
William, "Correcting" the price definitely screams out that it was priced wrong and you're fixing it... But, yes, I agree, it is definitely semantics and it all means the same at the end of the day.
I am not a fan of priced reduced or new price or anything remotley like that. This is one subject my wife and I disagree on.
She likes new price.
Renee, I agree! I've actually had sellers tell me that if they already lowered their price, that maybe they'll come down even more.
Tom, Exactly!
Jay, I think you win this argument, not her!!
David, But what if it's another 2 months later? Now, you're having to go back to the sign and removing the swinger because it's not "Just" Reduced anymore...
Leigh, Makes sense.
Karen Anne, I agree, and I think the same thing many times about something being "'wrong".
I just read today that somebody called it a price improvement. Not sure if it was on here or not.
Debbie
Well, don't yell at me, but yes I have used the price reduced sign on properties where the seller insisted on listing the house too high against my suggestions and I go ahead and list it and when they FINALLY let me lower it to where I suggested in the first place I PROUDLY (lol) hang that sign because it's now priced right and gets some people to call me back!!
A lot of my problem is that people think I'm too young. I'm 35 but they think I'm 25 and so they want me to list but don't trust my judgement at first. They see the numbers on paper but still don't get it. I'm hoping that will change after time.
I feel that I did not do a good job the first time around, hence parading it is not my thing to do.... This is entirely personal though.
I love what you said about using the word "adjustment" when talking to our sellers. Words can be so powerful and that is a great one! Thanks for the tip.
I don't like the sign riders for the very reason you stated. In addition, it also says "we're ready to deal. There's play in the price."