Meet a new plugin – Price History! The Price History Plugin is mainly designed for real estate agency software; although you also can apply it to your boat and car classifieds or any other listings that are likely to sell for some time. The Plugin adds a box to the listing details page showing a price history of a listing both in a table and line chart.
Who can benefit from the Plugin?
The main users of the plugins are potential buyers of properties, boats and cars who’re eager to trace price changes to determine the best time to purchase an item. The agents or private owners may benefit from the Plugin by showing their intention to make a price reduction and be more flexible. The Plugin also allows users to learn more about property selling trends in a local market.
How it works
The main parameters that the Plugins uses are: original price, price changes and a time period, during which such changes were made. The algorithm of the plugin is quite simple: it records price changes and shows a price history on the Listing Details page in a special box. A price history can be traced in two ways:
As a table:
Normally a table shows values of such fields as: date of a price change, description of the change, price, difference with a previous price in percent and price for a square foot. The table is less visual but gives more details to a user.
As a line chart:
In a line chart the horizontal axis is represented by time, during which price changes were made and the vertical one is represented by prices. Dots in the line show changes in a price. This type of data representation is not quite detailed but nevertheless allows users to better visualize price changes over a period.
The Plugin has the ability to calculate cost of a square foot based on a listing price and number of square feet. The information might be useful to buyers when browsing and comparing with other properties.
We classify the Price History Plugin as a free add-on; so you can install it from admin panel of your site. As always, any comments or suggestions are welcomed.