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Rainmaker
584,827
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

"price improvement" is not a new buzzword here, I do not personally use it but has been around for quite awhile.

Nov 09, 2022 12:44 PM
Ambassador
2,825,588
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

That has been used here for quite some time and is supposed to be more effective than price reduction, reduction in price, better priced. It is an attempt to 'pretty up' an overpriced listing, in my opinion.

Nov 09, 2022 01:46 PM
Ambassador
3,431,211
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

I have never like that term - or frankly any others.  Just lower the price and kick up the marketing to a higher level.

Nov 09, 2022 12:57 PM
Rainmaker
956,961
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

"New price."

Nov 10, 2022 04:05 AM
Ambassador
2,126,583
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I have heard that - I guess it sounds more positive than price reduction, but the actual fact is it was reduced/lowered. For the seller it is NOT a price improvement!

Nov 09, 2022 01:49 PM
Ambassador
1,423,195
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

It's a term that has been around for decades up here.  My area never really has market highs and lows but just continues to happily tick along so price improvements are always a thing. 

Nov 09, 2022 02:49 PM
Rainer
318,648
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

seems like a peer term, not a client term.

Nov 09, 2022 02:19 PM
Rainmaker
1,440,881
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I think I saw this one being used for quite some time, for reductions and increases.  I believe Barbara Todaro was the first one I saw using it.

 

Not a huge fan of it.  Who is the price improved for?  What direction is the improvement.  "Price Reduction" says it all.  Our feeling is, when Walmart changes from "Rollback" prices to "Improved" prices, then we'll consider it.  Until the world's largest retailer jumps on that bandwagon, we're steering clear of it.

Nov 09, 2022 11:28 PM
Rainmaker
467,474
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor"

I started seeing that more often on FB, and don't really care for it. That's part of the problem with today. People trying to change the definition of a word.

 

To me Improvement means an upgrade, or increase... Instead, their using it as just a price change and in most cases, it's a REDUCE in price...

 

Could be MISS-Leading... LOL

 

Nov 09, 2022 03:04 PM
Rainmaker
2,702,195
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Buyer break...

Nov 09, 2022 01:22 PM
Ambassador
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I doubt the sellers consider it an "improvement". Call it what it is, a Price Reduction.

Nov 10, 2022 07:49 AM
Rainmaker
798,004
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Price adjustment, price improvement, price change.... It's all the same with the goal to find more potential buyers and help sellers embrace the reduction after they've declared "I'm not gonna give it away!". 

Nov 10, 2022 04:38 AM
Rainmaker
4,646,811
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Price adjustment is one I have used in the past. Price improvement always makes me think it is still overpriced. Just me!

Nov 10, 2022 04:22 AM
Rainmaker
4,588,057
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

This buzzword has been in use for some time. I generally don't love using buzzwords... just say what you mean. If I were a member of the public my first thought would be the price has gone up. If it's a price reduction, just say so. I suspect saying so will get more attention.

Nov 10, 2022 12:47 PM
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3,177,590
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I do not believe that phrase is new.  Perhaps it feels new because we are seeing so many price reductions. 

Nov 10, 2022 09:30 AM
Rainmaker
728,938
Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FLorida Real Estate Connector

I prefer this term to price reduction as I like to focus on the positive!😎

Nov 10, 2022 05:52 AM
Ambassador
3,089,427
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I don't mind it if it's an email to agents, because for agents with buyers it is an improvement, but it's not an improvement for sellers at all.

Nov 10, 2022 10:08 AM
Rainmaker
874,878
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It's not new around here. I've been seeing these for years" " Price Improvement", "Reduced", "New Low Price", " Price Reduced", etc. Most of them actually mean: "I told sellers their house was worth way more than it really was just to get the listing, now I need to convince them to keep lowering price it before ir expires".

Nov 11, 2022 09:28 AM
Rainmaker
827,086
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

It had been used here years ago and has resurfaced. We all get desensitized by the overuse of words. 

Nov 11, 2022 07:04 AM
Rainmaker
1,777,312
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Like it.

Nov 10, 2022 05:41 AM
Rainmaker
5,414,552
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I never liked price reduction and used price improvement with my listings for years.

Nov 10, 2022 05:13 AM
Ambassador
5,838,814
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Buyers will look at it as in improvement, sellers may look at it as something else.

Always pays to educate the sellers in advance of the dangers of overpricing.

Nov 10, 2022 04:23 AM
Ambassador
444,010
Emily Medvec
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM

Another one popping up in our Santa Fe NM market is "price adjustment" --- often online media sites automatically name it something... like price drop. I use "new price"  in my emails etc. 

Nov 13, 2022 10:17 AM
Rainmaker
709,744
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Sounds like putting lipstick on a pig to me.  I have a unique phrase "price reduction"

Nov 12, 2022 02:47 PM