5 Ways To Increase Your Price Point

Increase Your Price Point

Thank you for all the responses to last week’s post. I love hearing the metrics that others use to measure success.

Increasing your price point vs volume definitely seemed to resonate.

It goes without saying – I am grateful for every client at every price point. But if life is about going with intention, there isn’t anything wrong with intending to sell more expensive homes.

The big question is, how do you do it?

First, decide what price point you are comfortable with. It should be more than your current one, but not so high that it stresses you out.

In last week’s example I talked about going from $400,000 to $500,000. Increasing your average price by $100,000 can have a huge impact on your business, but still keep you in a range that feels comfortable. And, if you know people who can spend $400K, it’s reasonable to assume that you can also find ways to connect with clients who can spend $500K.

If you had decided to jump all the way up to $2,000,000, it could create resistance points around how to connect with clients.

Incremental changes are best here.

Here are 5 ways up your price:

  1. Learn the market. You know I’m a big fan of previewing, with a goal of being in 10 properties a week. Make your goal to be in 10 properties, at or above, your ideal price point.
  2. Focus your open houses in your new point: It’s the easiest way to connect with those buyers and sellers.
  3. See who in your database is already in that price point. This does not mean they need to be an active Buyer or Seller. It’s about asking yourself “Who already owns a property in this price point, or could likely refer me to someone who does?” Then look for ways to connect and and stay in flow with them.
  4. Start a farm: This one takes time, and costs money, but might be worth a look. If there is a group of 150-250 properties in your ideal price point that you are excited about, go for it.
  5. Get involved with the community where those buyers and sellers are. It’s about building relationships and playing the long game.

It might not happen overnight, but your price point will go up over time.

Remember, success is when preparation meets opportunity.

To your success!

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