Mastering strategic pricing requires a thorough understanding of your local markets. One of the best data points agents can study to understand the current state of their markets is market absorption rates.
This data-driven approach allows real estate agents to make informed decisions about pricing, helping them avoid overpricing, which can lead to longer days on the market, or underpricing, potentially leaving money on the table.
This kind of analysis allows your clients to make informed decisions about how to position themselves and allows you to communicate insight and expectations about the activity and potential return they might see.
