How to Handle Price Reductions Strategically

A price reduction doesn’t have to mean desperation. In fact, when used strategically it can become one of the most powerful tools in your selling campaign.

In this episode of Worth the Waite, Benjamin Waite explains how to use price adjustments to your advantage in the Beenleigh and Eagleby markets. From recognising the warning signs that a campaign has stalled, to understanding when and how to tweak pricing without hurting your perceived value, Ben shares how a well-timed change can actually reignite buyer interest and even drive the price back up.

You’ll discover:

• The key warning signs that your campaign may need a pricing tweak.
• How to reduce or reposition your price without looking “desperate.”
• Why two-week campaign reviews are critical for staying ahead of the market.
• How to control other factors (presentation, tenants, timing) before adjusting price.
• Proven tactics Ben has used to relaunch stalled campaigns and create fresh buyer competition.

If your property isn’t moving as expected, this episode shows you how to take back control of your campaign and avoid going stale on the market.

Thinking about reducing your price? Don’t do it blindly. The timing, method and strategy of a price adjustment can mean the difference between a disappointing sale and a record-breaking one.

✅ Get honest, no-pressure advice from a local expert who knows exactly when to hold and when to shift. Book a free strategy session with Benjamin Waite today at www.benjaminwaite.com.au

Ben’s deep experience in Beenleigh and Eagleby means you’ll know exactly what your next move should be, and how to get the best possible result.

What is Worth the Waite - Beenleigh's Local Property Podcast?

When it comes to real estate in Beenleigh and Eagleby, there’s one name you need to know: Benjamin Waite. As a trusted expert with deep local knowledge, proven results, and a passion for helping clients succeed, Benjamin is the go-to agent for sellers, buyers, and investors in the region. Worth the Waite is more than just a podcast—it’s your insider guide to Beenleigh's property markey, offering valuable insights and strategies designed to position you for success in the property market.

From understanding local trends to maximising your property’s value, each episode equips you with the tools and knowledge you need to make confident Real Estate decisions. With a friendly yet professional approach, Benjamin shares real-world advice, stories, and tips, making complex real estate topics accessible and actionable. Whether you’re planning your next move or simply want to stay informed, tune in weekly and discover why working with Benjamin is always Worth the Waite!

 Looking to stay ahead in the Beenleigh and Eagleby property market? Want to get local insights from someone who knows this community inside and out? Then you've come to the right place. I'm Benjamin Waite, and welcome to Worth the Waite Beenleigh and Eagleby Local property podcast where we'll be diving into everything you need to know about real estate right here in our beautiful region.

Hello and welcome to Worth the Waite, the Real Estate Podcast for Beenleigh and Eagleby locals who want smart, clear property advice. I'm here again with Benjamin Waitee from LJ Hooker Beenleigh, and today we're talking about a topic many sellers dread. But it's actually a powerful tool when used correctly.

That's right. We're diving into how to handle price reductions strategically. If your property isn't moving as expected, don't panic. Ben's here to explain what to do when, and how to keep your sale on track. Ben, welcome to the podcast. Thank you. Hello. Okay. Let's get into it. How do you know when it's time to consider a price reduction, and what are the warning signs?

Well, I think you don't always need to look at a price reduction, but ultimately a price reduction is to stay nimble and proactive with your campaign. That's one technique to, you know, be proactive with your campaign. I think price reduction is a tactic quite often actually. You could reduce the pricing strategy or change the pricing strategy.

To stimulate inquiry, to then create competition to then drive back up to your original price anyway. So when you're talking about doesn't, so you're saying it doesn't necessarily mean that you're not going to get what you're originally after, correct. Yeah. Okay. So I think, so we're just going to, going to maybe understand that this, these are all tactic tactics within the overarching strategy.

Your strategy is the campaign, and then maybe you launched with no price for argument's sake. And you just haven't been able to secure, you know, an offer or, or some conversations that are, that are kind of leading towards, you know, an offer. So I think that you, you always need, so a good agent will be proactive in their campaign review and in my experience, I always like to do that fortnightly.

Mm-hmm. So you launch. And, and that your agent should be kind of giving you the heads up that in a fortnight's time we will review the campaign and then I will make some recommendations on the which ways we can tweak to, you know, improve our opportunity or create opportunities. And you should be able to have one or two options.

You know, it shouldn't just be, you know. Do this, there should be, you should be provided options, in my opinion, with a recommendation. Sure. Okay. So pricing could be one of those, but more importantly, I think the two week window should, is, is a good time because you've got enough feedback from the market.

To then make some decisions. Sure. You need to be, you need to have, you need to have data. Yep. Otherwise, what, what are you making a decision on the wind or, you know? Yeah. Ultimately, sometimes a price, a price reduction or a pricing strategy tweak will provide more data or ultimately provide,

you know, offers.

Sure. Okay. Look, I would imagine some sellers. You know, using a price reduction would fear that it would make them look desperate. How do you respond to that concern? We're

coming in line with the market, so we've got, so there's a couple of different ways. So you either you've launched and maybe you've got no inquiry.

So there's no data to go off. Yep. Which is a, which is a a point of data in itself. In

itself.

Of course. So, so then you kind, you are trying to reduce this, reduce the price to make it look more attractive to stimulate inquiry. Yep. So then we've got some conversations and some data to then kinda work off.

Yep. There's also different ways to change the price tactic online without. Necessarily reducing it. So we always launch with a price, and I typically like a price range. Yep. So we can then take the top of the price range off. So there's really still, nothing's changed a huge amount. Or we can increase the price a little bit, but then make that as an offers over campaign.

Or we can take the price off completely. So you've still got some things up your sleeve that might not necessarily. Look desperate.

Sure.

I think that, and then there's also some, some head, there's some headings that you can kind of tweak, but is looking desperate. A bad thing would be my argument if someone, if a buyer thinks that you are desperate, I think they're in for a bargain, and then they're going to do what?

Make an offer spot on. Then we're in a conversation. That's the whole goal. Yep. You don't have to say yes. Yep. And if we've got two offers that are beneath what you want, we've got two offers. So the third offer that comes in will, again, we've got some social proof there that other people are interested.

We've had offers previously, but they've been rejected. They're not where, they're not where it's at at the moment. Like that. That's a good story. That's a good narrative.

Yep.

So being desperate is not necessarily a bad thing.

Yep.

It gives a buyer hope. They might be able to get a deal, which allows the agent to have a conversation.

Yep. To then get to work to negotiate for you.

Yep. And at the end of the day, this is market forces, isn't it? I mean, the fact that you're considering what we're calling a price reduction or a price change in strategy here is because. Obviously where you're at at that particular moment isn't meeting the market.

Yeah. So you, it, it will meet the market at some point, won't it, whether you're reducing it or, or, or not.

Well, you, you want to, you wanna meet the market or you want to, you want to, you wanna have the data to be able to know where the market is. Now if your, if your price, if you, if you can make it work for you and your circumstances to meet the market, if it's a little bit lower than where you kind of were ideally hoping, then great.

And you, you, again, you've got, you've got some genuine data, some genuine, tangible evidence to, to help support your decision. If the market and what is, what they're communicating to you does not meet where you need it to be, then that's a whole nother conversation. That's it. But at least you've got the evidence to have those conversations and make those decisions.

Sure. You did mention two weeks being a, an optimal time to look at data and, and make decisions about pricing strategy. So what are the risks on holding out too long without adjusting a a, a price?

You look stale. And then inquiry drops. You need to stay a ahead. If you are chasing, then that really makes you look desperate, but you always wanna be proactive.

I think a full a, a two week period of time is a good, is a good like timeline. Yep. To, to gather some data, to be able to, you know, to stay in front of it. Sure. There are, again, there's some different, if you. Not all is lost if you become stale. There's a couple of techniques around that. You can withdraw the property from the market, let the current group of buyers move through the market, and then relaunch Yep, to the new entrance to the market.

So that's always a a tactic that I've used. We haven't had to use it a lot. If you launch right, you don't need to go down that track. But you know, sometimes when I've used that, sometimes we've launched with some tenants in it and the tenants have maybe. You know, kind of worked against us a little bit.

Sure. Or they were really keen to work with at the start, but then as it's kind of dropped away, they're kind of, the property's not presenting very well. So we would, we then can withdraw the market, draw it from the market, have them, you know, move on and, and then we could relaunch it. So there's a couple of different ways, ways to do that.

But to that, that's, they, there might be some options to you. Sure,

sure. Do you have a, an example in mind where maybe you have used a price reduction and it's worked really well in that it did get, you know, a second wave of attention?

Yeah, we've kind of come. We've had a price for two weeks. We've, we've taken the price off and we've had, we've changed the address, we've changed the heading to something that's really, really enticing, and, and then it stimulated some inquiry again, those guys have been watching it.

So when you get your reports from realestate.com and also from Domain, and then also from your, the, maybe the agent CRM, this is the things that you would go through in the, in the review. You can see how many people have viewed it, how many people have saved it. If there's a high number of saves, people are watching and waiting.

Yep. It's not where they would like it to be. And typically that's price. Yep. If you were drop the price, those saves will then act. But then I've created some competition with the people, so we might, we only need two or three people and then I can then go and drive that price back up. So often we've done that and we've then stimulated inquiry, created the competition from those guys, and, and then we've got the price to, to where we wanted it to or even higher sometimes.

Sure.

Alright, well look, what is your advice to any sellers listing out there who feel as though their, their campaign maybe has stalled or. And a and a are scared about the thought of reducing their price.

Well, if they're really scared about reducing the price, maybe you explore all of the other controllables that you have.

So. The, again, the, the, the agent's job is the conduit between the market and yourself. Yep. So you really need some hard hitting, honest feedback from the market. If the, if some of the consistent themes are coming back are price, or that it's presentation, or it's the tenancy, or it's the location, some of those things are controllable.

Yep. Tenants are controllable. For the, for, for, for some, for the most part. Yep. The presentation is, is controllable. Again, if it's owner occupied, the price is controllable. The location's not No. Right. The, if it's on the low side of the street, it's not. Yep. So typically I would like to address the, the controllables first.

Yep. If we can create, we can improve those controllables, they're the first things we wanna do. Yep. And then if we've got things that aren't controllable. I think the only thing we can control is the price. Yep. Because at the time, people aren't prepared to accept those uncontrollables. Like it might be, I don't know, close to a freeway or a busy road or, you know, whatever it might be, be change, that there's a neighbor next door that's maybe a bit unsightly.

We can't control that. So they're, they're not gonna accept that as at, at that price. Yep. So the only thing needs to give is the price. Yep. So controller controllables, and then understand what's not controllable. And then obviously, you know you work on that. On the On the price.

Yep. Perfect. Alright. So look, if your property isn't getting traction, a well-timed price adjustment might just be exactly what you need to spark that new interest and avoid it sitting on the market for too long.

Ben's deep knowledge of Beenleigh and Eagleby markets means he knows when to hold firm and when to shift in strategy. That will help. We knew the best possible result you can reach out to and forget honest advice, no pressure consultation via benjamin Waitee.com au or by contacting LJ Hooker, be me directly.

Now look, don't forget to hit the follow button so that you get every episode for more smart local property tips for Beenleigh and Eagleby when it comes to selling your home. It's always worth the Waite, Ben. Thanks once again. Thanks Adam.

Thanks for tuning in to Worth the Waite. If you enjoyed the podcast, please be sure to share with a friend and don't forget to hit that subscribe so you won't miss an episode and all my local property tips, updates, and insights. Until next time, I'm here when you need.