This tool allows sellers to lower their asking price in just one step. This then reengages interested parties with your listing for further discussion.
Interested buyers will be alerted via the Deal Room, Email, and Platform Notifications when actioned.
How does Price Drop work?
Sellers will see where to activate a Price Drop within the Asking Price Widget down the right-hand side of their listing page.
The steps to follow are
- Click the Increase your chance of selling: lower your price within the Asking Price Widget.
- Follow the prompt by selecting a percentage price change or setting a custom value.
- Clicking Confirm Price Change will activate the Price Drop and alert users.
- Confirmation will appear that the price has been reduced and that we will notify all buyers who have shown interest.
FAQs about Price Drop
What changes occur on a listing once a Price Drop is activated?
Within search results and on the listing page, buyers will see a strikethrough of their price before it was dropped, and the new reduced price will be displayed in a larger font.
How are Buyers alerted to the Price Drop?
- Deal Room Message (on behalf of the seller): Sent to only buyers who have previously contacted the seller
- Email: Sent to buyers who are watching the listing and/or who have previously contacted the seller
- Platform notifications: Sent to buyers who are watching the listing and/or who have previously contacted the seller
As a Seller, why can't I see the option to use Price Drop?
Price Drop is only available on classified listings. If you can’t see the feature, then your listing will still be in an active auction.
What happens if a Seller cancels a Price Drop once it’s activated?
The changes to the listing will be removed and will no longer show the before and after price. Buyers will now only see the one price set on the list.
Notifications will no longer be sent to interested buyers.
Are Buyer notifications ever paused?
Yes, when a business has an active LOI or is Sold, notifications are paused / stopped.