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Chipping Away at the "PRICE IS KING" Myth Too Many Realtors Rely On
I hate to break some Realtor's chips... but for many of you the belief you have, regarding the role pricing plays in real estate sales, is not cracked up to what it could be. Believe it or not there is a simple yet profound parallel lesson that can be learned from how Lay's potato chips are packaged, priced, marketed and sold and how real estate is packaged, priced, marketed and sold.
Let me be clear... when it comes to selling anything, be it real estate or potatoe chips, Price IS King. It is a fact that the seller (market) will only get the price the buyer (market) is willing to pay... that makes price "KING".  But I think that too many Realtors have collapsed the concept of "KING" down to mean it is the ONLY thing that matters when it comes to selling real estate. They don't understand the full ramifications of HOW pricing is but one factor managed and integrated into the overall real estate marketing and selling process.
So let's crunch on the pricing lesson to be learned from the potato chip...
Yesterday I saw a compelling news segment on CBS Sunday Morning. In the piece the correspondent reported on the dynamic, and well-regulated world of food labels. Intererviewed for the segment was the Product Manager at FritoLay who is responsible for ... more

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