Dynamic Pricing is an algorithm where it calculates the amount of Universal Credits needed to Post, Repost, Auto-Repost, Boost, Auto-Boost, SuperBoost, Auto-SuperBoost a listing based on market demand and listing supply.
The amount of Universal Credits required for your listing activities will be displayed next to your listing action for easier reference.
Key Benefits of Dynamic Pricing #
- Increase visibility & gain high intent leads for your listings.
- Credits required changes with market conditions to deliver maximum value for you.
- Pay the right price to Post, Repost, Boost, Boost Repost, SuperBoost, or SuperBoost Repost your listings.
- Credits required changes with market conditions.
- Low volume market activity (low in demand & supply)
- The amount of Universal Credits required to Post, Repost, Boost, Boost Repost, SuperBoost, or SuperBoost listing may decrease.
- Enabling agents to take advantage of less competitive conditions to market their listings actively.
- High volume market activity (high in demand & supply)
- The amount of Universal Credits used to market a listing increase.
- This reduces competition from poor quality and fake listings.
- Making it easier for property seekers to find an agent’s high-quality listing.
How is the Dynamic Pricing algorithm formulated? #
Dynamic Pricing takes into consideration the competition and supply of listing, according to the property type, location and project.
The key metrics used for measurement include:
- Number of listings
- Listing activities (Post, Repost, Boost, SuperBoost)
Depending on the score that is calculated through the algorithm, some listings require lesser Universal Credits for your listing activities; while others need more.
When the amount of Universal Credits to market a listing is low, agents are empowered to market their listings more actively through New Listings, Repost, Boost and SuperBoost.
How can Agents benefit from Dynamic Pricing? #
- Reduce competition from poor quality and fake listing, and result in increased visibility of authentic, high-quality listing.
- Enabling agents to take advantage of lesser competitive conditions to market their listing actively.
- Get their listings in the right place at the right time, generating better quality leads.
If I edit a listing location and property type, do I need to pay a different rate to Repost/Boost/SuperBoost my listing? #
As you cannot edit location and property type after you publish the listing, the pricing will not change (effective from launch date onwards).
Is there a cap on the maximum amount of Universal Credits for my listing activities? #
There is no known maximum cap on the amount of Universal Credits needed for your listing activities. Dynamic Pricing will ensure the Credit amount varies within a reasonable range.
Will I see the same amount of Universal Credits required to Post/Boost/SuperBoost a listing as my colleague? #
It depends on the prevailing market conditions (demand and supply) at the time when the agent posts his/her listing. Hence if both agents post/upgrade a listing in the same condo for the same use (e.g.sale or rent) at different times, then they might encounter differences in Universal Credits. The differences in Universal Credits could be attributed to the prevailing market conditions at the time when the listings are posted.
How will Dynamic Pricing affect my Auto-Repost/Auto-Boost/Auto-SuperBoost campaign? #
There is no known maximum cap. We will provide you with a projected forecast amount of Universal Credits that you will take to complete your campaign before you activate your campaign. This is based on the setup of your campaign, and the current amount of Universal Credits needed for listing Repost/Boost/SuperBoost.
Please note that over the lifetime of your campaign, the amount of Universal Credits required to Repost/Boost/SuperBoost your listing through your Auto-Repost/Auto-Boost/Auto-SuperBoost campaign may change due to Dynamic Pricing.
Therefore, the actual amount of Universal Credits deducted for your campaign may be lower or higher than projected. Deduction of Universal Credits will only happen upon completion of each Repost/Boost/SuperBoost event.
How can I check the amount of Universal Credits to upgrade a specific listing? #
It is shown at AgentNet’s “My Listing” page.
How can I check the amount of Universal Credits they had spent on a specific listing? #
It is shown at AgentNet’s ‘Reports’ page.
How many Universal Credits do I need to Post/Repost/Boost/SuperBoost my listing? #
In AgentNet, the amount of Universal Credits required to Repost/Boost/SuperBoost a listing will be indicated in the Summary page of your listing, and also next to each of your listings in “Listings” tab, before you activate any of these actions.
What will happen if there is a change of Universal Credit amount when I am in the middle of Repost/Boost/SuperBoost booking? #
A prompt will surface to inform the agent should such occur, and the agent will need to restart the Repost/Boost/SuperBoost booking / listing selection.
Does Dynamic Pricing affect Commercial Listings? #
Dynamic Pricing is currently applicable to all property types, including commercial listings except for New Listings. Dynamic Pricing on New Listings is currently applicable to residential listings only.
Does Dynamic Pricing affect Corporate Account users? #
The number of Universal Credits required to Post/Repost/Boost/SuperBoost will also be calculated by Dynamic Pricing.
How frequently and at what time do Universal Credits amount change? #
When a market condition change has been detected, or if a situation arises where manual intervention is required. For a start, we do not expect frequency to be high.
How will I know if the Universal Credit amount is right? #
The Dynamic Pricing algorithm will continue to learn and improve its accuracy.
Will there be a subscription or Universal Credits price revision again? #
Currently there are no plans to revise our prices for subscription or Universal Credits.
However, as we continue to evolve our partnership and bring greater value to you, we periodically review our products, services, and offerings to ensure that they are optimized to serve your business needs.