"Price Improvement" New Term/Phrase for Price Reduction

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Real Estate Agent with Lattimer Realty

"Price Improvement" New Term/Phrase for Price Reduction

Albeit a little embarassing but today is the first time I heard the term or phrase "price improvement" and I must admit that it sounds better than price reduction, new price, reduced price, price slash and a few others that are commonly used.  Another favorite term or phrase that I like is perfectly priced but that doesn't really mean price reduction unless its used as with some type of verbiage like "recently perfectly priced" or "currently perfectly priced"

I think price improvement will be added to my marketing vocabularly.   What wording do you use to market a home that has recently had a price reduction? Is "Price Improvement" your new term or phrase for price reductions? 

 

Price improvement

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Re-Blogged By Re-Blogged At
  1. Joy Daniels 10/07/2014 06:41 AM
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Ambassador
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I like it. Anything beats price reduction as far as I'm concerned.

Oct 03, 2014 02:23 PM #1
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Gina, I kind of like this new description!  I mean, it is indeed a price improvement!

Oct 03, 2014 02:29 PM #2
Rainmaker
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Bruce Hicks
Best Homes Hawaii - Honolulu, HI
Your Lifetime Friend/Helper!

Petatoes, Patattos.  I like that "Price Improvement"  Will add that to the vocabulary!  I clicked LIKE>

Oct 03, 2014 05:05 PM #3
Rainmaker
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Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

I like it - I will definitely be using Price Improvement in the future.  I actually sent it out to my Listing Team.  

Oct 07, 2014 06:37 AM #4
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Gina

I think it's a great idea when dropping the price. We are also repositioning the home in the market

Jeff

Oct 07, 2014 06:45 AM #5
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     The psychology behind words can make the difference.  "Price improvement" sounds positive.  "Price reduction" sounds negative.

Oct 07, 2014 07:34 AM #6
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I like it.  I might have to try that soon.  I agree with Fred, it sounds better.

Oct 07, 2014 11:02 AM #7
Rainmaker
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Nona Green
Nona Green & Associates DRE#00692351 - Agoura Hills, CA

I've only heard Price Improvement used in the last year or so.  Maybe because the market has been so hot in my neck of the woods that no one had to lower their price.  I hate to be the black sheep of this group but I prefer to stick with "price reduction".  This more accurately describes what is happening.  Also, "Price Improvement" has long been associated with stock options to describe an INCREASE in value.  Applied to real estate, it sounds like a euphemism that is too contrived for my taste, too obvious, as if we are apologizing for something.  Buyers are hoping for price reductions - not price "improvements".  I see "Improvement" being used more and more, so I'll probably get on the bandwagon soon enough... just not yet.

Dec 03, 2018 05:08 PM #8
Anonymous
Fred

As someone in the market for purchasing a second home I find price improvement total BS . Just marketing - like 19.99 is not 20 bucks - who doesn’t know that game .

Mar 17, 2019 05:48 AM #9
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Gina Chirico

Real Estate Agent - Essex County, New Jersey
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