What is Dynamic Pricing
Understand the algorithm that calculates Ad Credits needed for your listings activities.
By oangledes183
• 1 year ago What is Dynamic Pricing?
Dynamic Pricing is an algorithm where it calculates the amount of Ad Credits needed to post a new listing or promote a listing (Post, Spotlight or Turbo) based on market demand and listing supply. Dynamic Pricing is also applicable on Prime Credits, which is used to book or extend Featured Agent slots.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, Spotlight, Spotlight Repost, Turbo, or Turbo Repost your listings.
-
Credits required changes with market conditions.
-
Low volume market activity (low in demand & supply)
-
-
-
The amount of Ad Credits required to Post, Repost, Spotlight, Spotlight Repost, Turbo, or Turbo Repost listing may decrease.
-
Enabling agents to take advantage of a less competitive conditions to market their listings actively.
-
-
High volume market activity (high in demand & supply)
-
-
-
The amount of Ad Credits used to market a listing increase.
-
This reduces competition from poor quality and fake listings.
-
Making it easier for property seekers to find agent’s high-quality listing.
-
-
From 01 Apr 2022, the number of Ad Credits needed to Repost, Turbo and Spotlight a listing Repost, Spotlight, Spotlight Repost, Turbo, or Turbo Repost will be calculated by Dynamic Pricing.
From 18 March 2024, the number of Ad Credits needed to post a new listing will be subjected to Dynamic Pricing.The amount of Ad Credits required for your listing activities is indicated next to your listing for your easy reference:
How is 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, Spotlight, or Turbo)
-
-
Depending on the score that is calculated through the algorithm, some listings require lesser Ad Credits for your listing activities; while others need more.
When the amount of Ad Credits to market a listing is low, agents are empowered to market their listings more actively through New Listings, Repost, Spotlight, Spotlight Repost, Turbo, and Turbo.
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 different rate to Repost / Spotlight / Turbo 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 Ad Credits for my listing activities?
There is no known maximum cap on the amount of Ad 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 Ad Credits required to Post/ Spotlight / Turbo 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/ugrade a listing in the same condo for the same use (e.g.sale or rent) at different times, then they might encounter differences in Ad Credits. The differences in Ad 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-Turbo campaign?
There is no known maximum cap. We will provide you with a projected forecast amount of Ad 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 Ad Credits needed for listing Repost / Turbo.
Please note that over the lifetime of your campaign, the amount of Ad Credits required to Repost / Turbo your listing through your Auto-Repost / Auto-Turbo campaign may change due to Dynamic Pricing.
Therefore, the actual amount of Ad Credits deducted for your campaign may be lower or higher than projected. Deduction of Ad Credits will only happen upon completion of each Repost / Turbo event.
How can I check the amount of ad credits to upgrade a specific listing?
It is shown at ‘AgentNet’s “My Listing” page.
How can I check the amount of ad credits they had spent on a specific listing?
It is shown at AgentNet’s ‘Reports’ page.
How many Ad Credits do I need to Post/ Spotlight/ Turbo my listing?
In AgentNet, the amount of Ad Credits required to Post/Spotlight/Turbo 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 Ad Credit amount when I am in the middle of Repost / Spotlight / Turbo booking?
A prompt will surface to inform the agent should such occur, and agent will need to restart the Repost, Spotlight or Turbo 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 Ad Credits required to post / Repost / Spotlight/ Turbo will also be calculated by Dynamic Pricing.
How frequent and at what time do Ad Credits amount change?
On frequency:
As and when a market condition change has been detected, or if situation arises where manual intervention is required. For a start, we do not expect frequency to be high.
How will I know if the Ad Credit amount is right?
The Dynamic Pricing algorithm will continue to learn and improve on its accuracy.
Will there be a subscription or Ad Credits price revision again?
Currently there are no plans to revise our prices for subscription or Ad 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 optimised to serve your business needs.For general enquiries, please reach out to our Customer Service at the following:
-
-
-
Phone: +603 7932 7555 (Mon - Fri 9am - 6pm, closed on PH)
-
For technical assistance, please message us via WhatsApp at +60 17 943 9107
-
-
(Mon - Fri 9am - 9pm, closed on PH) (no phone call, message only) and we will get back to you within 1 working day.
