Market Flexibility—Price Adjustments During Uncertain Times

With all of the uncertainty in the market today, how do we know when to adjust our pricing in an area (buy & sell) and what steps do we take?

Joining Mark for this week’s Round Table discussion are:

  • Erik Peterson
  • Scott Bossman
  • Mimi Schmidt
  • Tate Litchfield
  • Scott Todd

Today’s topic—flexible maneuvers in the current marketplace, was brought to the discussion table by Erik Peterson. 

Listen in as he and the team dive deep into the subject and share the steps they are taking in their own businesses during these uncertain times. 

A few of the teams recommendations include:

  • Check comps more frequently 
  • Get more aggressive with offers
  • Subscribe to all wholesale lists on Facebook

Erik advises that you should be watching the markets in good times and bad to make sure you can swing with the ups and downs.

Then, is it business as usual?

The team gives us an update on how the current events are affecting their businesses.

  • Mark has had no note defaults, no issues, no emails. No sense of fear or panic.
  • Erik has one on the verge of default but it started before the crisis
  • Scott B. has two on the verge of default but they also started before the crisis
  • Mimi had one default at beginning of month but not situation specific
  • Tate got his 1st email, crisis related, the morning of this recording. His upstanding customers since 2016 asked for reduced payments for 60 days due to lost job
  • Scott Todd’s new customers asked to skip their first month payment due to the fact that they are in the hotel industry and are not working

Did Tate and Scott give their customers some leniency? You’ll have to listen in to find out!

The Bonus Material—battling the COVID fatigue. How is the team handling a full house during these weeks of isolation? 

There seems to be some old man jokes floating around the Podolsky household but Mark has found the perfect solution to keep yourself from stress eating… you’ll have to listen in to this week’s Round Table to hear what it is! 

CLICK HERE to view the quarantine video mentioned in today’s episode. 

TIP OF THE WEEK

Mimi: When you see people offer wholesale lists, ask for a copy. It’s a great way to get very quick information on what the counties are doing.

Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?


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