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Advertising and Pricing – Getting higher prices

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25 February 2010

Advertising and Pricing – Getting higher prices

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I heard an interesting spin on selling vendor paid advertising last week that I wanted to explore.  I had an agent explain to me that he believes that vendors need to buy large ads in newspapers because they help manage buyers pricing expectations.  I found this to be a curious statement, the normal logic behind larger ads is that they will better show the unique selling points of a property through larger and more photographs.

This agent had a different take.  He suggested that buyers immediately start to assign pricing expectations around a property when they first see it in print.  If the ad is larger and the property is surrounded by more expensive homes, vendors will therefore assume that the property is also more expensive that their price expectations will be managed up.  I see a real logic to this and think it’s a fantastic way to communicate the benefits of larger ads, I hope you agents are taking notes…

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