Price drop or price adjustment?
Both have the same meaning but have different effects when said.
Confidence in the marketplace around pricing is key to securing new business however sometimes the property just doesnt attract enough enquiry to get it leased. This is where changing the price is key to keeping the property moving forward. I will explain in another post a marketing campaign timeline. But overall if after the first week (Including a weekend) there is no strong enquiry and its now Monday and your doing your owner update. I would start to look at preparing them for a price ADJUSTMENT on Friday before the weekend. The reason I suggest to use the word price adjustment rather than drop. Its less aggressive in sound and to the owner it shows you are doing what it takes to align with the market conditions at the time. These are just little changes in your vocabulary to assist in maintaining the relationship and puts you as the leader in the marketplace.