Starting price strategy reduces home sale time
By taking into account the effects of other relevant factors, such as volume, square footage, and date of building, it can be concluded from a NVM Makelaars data set that the use of the so-called starting price may more than half the sale time of a home compared to a normal asking price. The research was recently published in Real Estate Research Quarterly (in Dutch).
The Business Analytics Lab supported alumnus Koen Pillen in his research on the effects of the sale method on the sale time and sale price of homes. The LAB can support organizations in a variety of ways in the design and implementation of research, for example, in analyzing and interpreting data. The LAB helped make a pure estimate of the impact of the sales method on the selling price and sale time on the basis of a NVM data set.
The full article is available on the Dutch-language page of Business Analytics LAB.