When Is A Price Reduction Not A Price Reduction?

When I see 800 then 795 then weeks later an extension at 795, I see an agent who's probably just happy to get whatever he can get by way of a price reduction.

But I'm sure you've been watching a longer term trend than my quick glance.

I agree that it is just a small refresh of the listing, but at that price point, you are not getting any additional buyers interested.  You are right, totally a marketing ploy!

I've seen as little as $1 reduction - agent knowing a reduction causes the listing to be resent to all prospective buyers because there was a change in price - rediculous ...

A few thousand is not a price reduction but a waste of paper and time.

Sue of Robin and Sue

Well, I understand your point, but I also think it is a matter of perspective. After all, a reduction is a reduction no matter what the amount. Granted, the numbers you mentioned are not that significant but there is no fixed amount required to make a reduction legitimate. One approach may be to consider if the price is reduced then the seller is more open to a reduced offer. Of course we'd all rather have larger price reductions but in my view a little is better than nothing.

I agree with you and most of the comments - seems like a ploy to me.  ~ Susan

Happens all the time here and we don't even get the green arrow.  Our MLS allows any price change to get resent on the auto-notification.  So agents make frequent insignificant changes to get it out in front of buyers.  So, they use the ploy here.

We don't get the green arrow in our MLS!   Any kind of price reduction will refresh the listing, more marketing than a serious attempt at a sale.

Hi Stewart... I suspect this is one of 2 things... either the agent was trying to get a psychological mindset shift by getting the big first number in the price a bit lower (yes, that's marketing more than a significant price change) or the seller simply would not allow the agent to reduce it further.  Sometimes I want a more significant price drop, but the seller won't budge more than $5-10K and I will take whatever reduction I can get... something is better than nothing in my book.

Small as it is its a reduction. It may have an effect on buyers. The supermarkets around here have price reduction signs that are as big as sales signs, most people see the price reduced sign and just buy the object, when you read the sign it make say (in much smaller print) "Priced reduced 6 cents", I'm sure that increases sales since most people won't bother reading past the price reduction teaser.

A $5,000 price reduction on a $100,000 condo would be a price reduction. On a $800,000 property. I think it's insulting, even if it is a good marketing ploy.