How Much Time Do I Really Need to Spend on Pricing (LA 1544) - a podcast by Steven Butala & Jill DeWit

How Much Time Do I Really Need to Spend on Pricing (LA 1544)
Transcript:Steven J Butala:
Steven, Jill here.Jill DeWit:
Good day.Steven J Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:And I’m Jill DeWit, broadcasting from sweet Scottsdale, Arizona.

Steven J Butala:Today, jill and I talk about how much time do I really need to spend on pricing?

Jill DeWit:Oh, What do you think?

Steven J Butala:No, I think you should take a whole year.

Jill DeWit:Oh that's true. I have a few people that are saying,"Yeah, I'm pushing a month."Oops. Yeah, we'll talk about that.

Steven J Butala:We'll talk all about it and we're joking around, but I understand. We both understand it, how caught up you can get in this.

Jill DeWit:You can accidentally spend a month on this.

Steven J Butala:Yeah. Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free and if you're already with us, please join us on discord.

Jill DeWit:Anthony wrote,"I joined an auto pricing service just to see the product. I checked how they price counties and that I have previously mailed. In general, they price way too high. I've been mailing counties with a lot of waterfront properties. I find it difficult to come up with good prices, given that a parcel just a few blocks away can go for double and vice versa. Their prices were way too high there also. I don't think there's an easy way out for pricing. You have to put in the work, even if it means drilling down past zip codes to map sections. On the other hand, you can get suckedin and go too granular. I sometimes forget that perfect is the enemy of good enough."That was great Anthony.

Steven J Butala:Anthony, tell me where to send the check.

Jill DeWit:Was this in Land Investors or was this in discord?

Steven J Butala:It was in discord.

Jill DeWit:Wow.

Steven J Butala:I responded and a lot of people did too. I actually responded to him and thanked him.

Jill DeWit:So if you're in discord, you're a member. If you're in Land Investors, you might be both, by the way, you can be either. Sorry. Yeah, this is perfect. This ties right into it.

Steven J Butala:Well, this was the inspiration for the actual topic.

Jill DeWit:Yeah.

Steven J Butala:So we're right in the pricing module right now, Jill and I, or about to be for career path.

Jill DeWit:Number two.

Steven J Butala:And it, for some reason, and I believe this is great, the Land Academy itself attracts technical people or intelligent people, or it's generally attracts, it seems to me now, technical people with a technical background, but are very comfortable in a sales role too.

Jill DeWit:Because that's who we are.

Steven J Butala:Yeah.

Jill DeWit:Last time I checked.

Steven J Butala:I mean, that's exactly who you and I are so...

Jill DeWit:That's what I mean.

Steven J Butala:Individually and collectively. And so because of that technical background, it's you can just spend way too much time on pricing. Hey, wait, today's topic, how much time do you really need to spend on pricing? This is the meat of the show. I can directly answer that question. And it's a one-to-one association with how new you are at land investing and how much experience you have with Excel and data in general. And if this is brand new and you are not a data person at all, I think a month. Jill was joking about it earlier, might be appropriate or better yet, use a product like Concierge Pricing that we created for people like you.

Jill DeWit:To speed the process up.

Steven J Butala:You can go to Offers 2 Owners and check that out there or get somebody like me to do your mailers for you. And if you go through discord, there's all kinds of people in there that are willing to do it.

Jill DeWit:Here's the point. So when you're new, you need to spend the time, you need to put the time in.

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