For months, our data science team has been researching & testing an approach that results in more precise Base Prices - especially in smaller markets or for large listings, where fewer comparable properties exist.
Your (data-driven) listings can access Wheelhouse’s new Pricing Engine upgrade -
a better Base Price Model
.To better clarify:
- If you areleveraging Data-Driven Base Prices:
- Your Base Prices will shift to our new recommendation engine
- You can now review those changes with our recent release of the new Base Price History view
- If you are notleveraging Data-Driven Base Prices:
- Nothing will change!
- However, you are welcome to review your new recommendations
Updates to your Base Price model should now occur in a more consistent, predictable fashion as the new model is better at identifying how attributes of your property (e.g. pools, porches, etc.) play into your optimal Base Price.
We’re continuously improving your Wheelhouse Pricing Engine and are looking forward to sharing more major advancements later this year.