Dealing with Rapid Price Appreciation in a Hot Market
Throughout our nearly 4 decades in business, we’ve seen a multitude of market conditions. Through these ebbs and flows we’ve learned to adjust our pricing and sales strategies to ensure optimal sales momentum and revenues for our clients. In 2017/2018, extremely favorable market conditions became a new norm due in part of demand far outweighing supply. This led to accelerated absorptions and rapid price appreciation. While that sounds highly desirable, fast paced sales always leaves us questioning whether optimal revenue levels were achieved. There is always that question: “Was money left on the table?”
To ensure revenue is maximized and buyers feel they were provided a fair opportunity to purchase, we’ve formulated a process known as “The Selection Process”. This proprietary process is integrated into the overall pricing strategy and includes a set of branded tools, processes and events. The process was first created for the launch of Sunstone Residences in North Delta and has since been refined and successfully implemented at several Fifth Avenue launches including: Delta Gardens, Boulevard, Township Commons, Crimson and Upper Montrose. In each of these cases we did our best to ensure the buying process was fair for all consumers and reflected positively on our client’s brand. Of course, this is something we are mindful of through the entire sales process.
All of the above offerings were successfully launched with near instant and sustained sales momentum, at leading prices for their respective locations and product types, while treating the customer with care.