Over many years of selling homes, I discovered four principles that consistently led to higher prices for home sellers. These price-enhancing principles can be applied to selling any product or service. I call them Price Influencers.
“Time and Hope” is Not a Strategy
Most products—including homes—are marketed using only two strategies: time and hope.
- Time: The product is introduced to the public and simply placed on the shelf.
- Hope: If it doesn’t sell, the price is reduced or the product is changed or discontinued.
This “wait and see” approach is not a strategy—it’s why so many products fail to sell for as much as they could, or don’t sell at all. The key to achieving higher prices is understanding how to shape buyer perception.
Price Influencer #1: Perceived Value – Make Buyers Believe It’s Desirable
Buyers don’t just want a product—they want something other people want too. The more desirable something appears, the more valuable it becomes.
- People Want What Others Want – If buyers believe a product is in high demand, they will perceive it as being more valuable.
- Perceived Future Appreciation – Positioning a product as an appreciating asset increases its perceived value.
- The Power of Presentation – From premium packaging to compelling descriptions, every detail should make buyers feel they’re looking at a must-have item.
A great example is Apple’s marketing strategy—they don’t just sell technology, they sell status, innovation, and an exclusive lifestyle.
Price Influencer #2: Freshness – The Power of First Impressions
Would you rather buy something fresh off the shelf or something that’s been sitting there for weeks? Buyers are naturally drawn to what feels new and exciting.
- Products That Sit Too Long Lose Value – If something is available for too long, buyers assume there’s something wrong with it.
- Scarcity and Freshness Go Hand in Hand – A newly launched product feels exclusive, making buyers more likely to pay a premium.
- The Product Launch System – Companies like Apple create anticipation before launching a product, generating a rush of buyers the moment it’s available, which validates desirability and enhances perceptual value.
If a product lingers on the market too long, it loses appeal and perceived value.
Price Influencer #3: Scarcity – Limited Availability Drives Higher Prices
Ever notice how people rush to buy when they think something is hard to find? That’s the psychology of scarcity at work.
- Limited Editions Create Desire – Positioning a product as “one of a kind” makes buyers emotionally attached to the idea of owning it.
- Less Supply = Higher Demand – When a product feels rare, buyers feel urgency to secure it before it’s gone.
- Creating a Premium Narrative – Think of luxury brands that deliberately position their products to appeal to high-end buyers.
Scarcity isn’t just about actual availability—it’s about the perceived availability of a product.
Price Influencer #4: Urgency – Fear of Missing Out (FOMO) Drives Action
No one wants to miss out on something great. That’s why urgency is a critical part of any sales strategy.
- Deadlines Force Decisions – Buyers hesitate when they think they have unlimited time to decide. But if they believe they could lose the product forever, they move quickly.
- Creating the Perfect Buyer Environment – When buyers feel they are in a competitive setting, they act more decisively.
- FOMO Increases Price – When multiple buyers feel the same urgency, they often bid higher to win the product.
Flash sales, countdown timers and limited-time offers are designed to create urgency.
The Psychology of Price: What Really Drives Buyers?
Perception drives price. Buyers don’t simply buy the best product; they buy the product that feels like the best deal based on its perceptual value, freshness, scarcity, and urgency.
As marketing legend Seth Godin once said:
“People don’t buy the best products. They buy the ones with the best stories.”
If you want to sell products at higher prices, you must create a product story that makes them perceptually irresistible. This story is where you leverage Price Influencers.
Apply This to Any Product You Sell
Here are a few of the many ways you can integrate Price Influencers into the sale of a product:
- Value – Craft compelling descriptions, showcase social proof, and highlight unique benefits.
- Freshness – Time your product’s introduction strategically to create excitement.
- Scarcity – Limit availability or offer exclusivity to make your product feel rare.
- Urgency – Create time-sensitive offers or limited buying windows to encourage fast action.
When these elements work together, buyers feel they are discovering something special—not just buying a product but securing an opportunity.
Change the Way You Sell
Selling isn’t just about introducing a product and waiting. It’s about positioning, perception, and psychology. Leverage the power of value, freshness, scarcity, and urgency to sell anything at a higher price.
