On the home tab*, one of the widgets available is the Prospecting widget.
*If you do not see the widget, check if its hidden. Click here for details on how to manage your widgets.
Prospecting allows you to determine the number of new PCS searches a listing will match if the price is changed. You can change the price increment and the number of price increments to determine the number of new matching PCS searches for different price changes. This enables you to maximize exposure in PCS by targeting the highest number of searches possible within your price range.
To begin, enter your listing MLS number, or click "Select Listing" and a list will populate with your listings addresses. Select the listing you would like to perform the prospecting on.
The default setting of Price Drop can be changed to Price Increase if needed.
The default price increment is $5,000 but you can also change the range in the drop down, as shown below.
The final setting is how many increments would you like to see populated. Like the above options, you can change the increments in the drop-down.
Once you have the settings correct, click "Calculate". You will see a rotating circle as it calculates.
Once it is finished, you will see a list of the price points you have indicated, and a column of "New Searches" with numbers. At the top, you will see the Current Matches Searches.
The Current Matches Searches is how many PCS searches your listing has matched to at the current price point. As you move down the list to the proposed prices, you will see how many New PCS searches the listing would potentially match. In the example below, there are not many for the first 4 increments of $5,000, however, at $699,900 there would be a significant match.
You can also view the data in the full-screen mode, which may be a view you can then share with your sellers to discuss a price reduction.