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Hi. Im guessing it means that that is the price range the sellers are looking to sell. Why do people do this? Does that generally mean they wont counter or dont want to hear offers that are out of this range? I was just hoping for some experiences or insight. Thanks
Hi. Im guessing it means that that is the price range the sellers are looking to sell. Why do people do this? Does that generally mean they wont counter or dont want to hear offers that are out of this range? I was just hoping for some experiences or insight. Thanks
It's a concept called "Value Range Pricing". The idea is that you are marketing to buyers searching in a wider range of prices, and that, subject to other factors, you will consider offers anywhere in that range. In talking about it, my colleagues & I can't see any reason for a buyer to ever offer anywhere near the high price of the range. It never gained any traction in my market, so I have no first hand experience, but apparently it was popular in California for a while.
My suggestion to buyers is to not worry about it. You like the house? You'd live in the house if you can get it for an acceptable price? Then make the offer YOU think is fair. They can respond however they like. If you don't offer, you'll just never know.
It's a concept called "Value Range Pricing". The idea is that you are marketing to buyers searching in a wider range of prices, and that, subject to other factors, you will consider offers anywhere in that range. In talking about it, my colleagues & I can't see any reason for a buyer to ever offer anywhere near the high price of the range. It never gained any traction in my market, so I have no first hand experience, but apparently it was popular in California for a while.
My suggestion to buyers is to not worry about it. You like the house? You'd live in the house if you can get it for an acceptable price? Then make the offer YOU think is fair. They can respond however they like. If you don't offer, you'll just never know.
I've never understood "Range Pricing" either. I think it's more of a sales gimmick so that agent can get the listing. The 2 agents in our area who do it are less then stellar in their reputations.
I've never understood "Range Pricing" either. I think it's more of a sales gimmick so that agent can get the listing. The 2 agents in our area who do it are less then stellar in their reputations.
I agree, it seems like a bit of a gimmick to me too.
Also, how do you enter that listing? My MLS has a field for List price. I can't put in a high & a low when I enter a listing, I have to put in a definitive number. The few times I've seen it here, the listing agent enters a list price, then defines the "range" in a comments field. Do other MLS systems have a list price field that supports range pricing?
When I was looking at houses I saw one listing with a set price but then this in the comments: "Seller will entertain offers in the $xxx to $xxx range." I thought it was nuts in this very slow market, ESPECIALLY because they forgot to change the range as they dropped the listing price. So the listing price ended up as something like $250k but the comments still said "will entertain offers between $280k and $300k." Good luck with that!
I agree, it seems like a bit of a gimmick to me too.
Also, how do you enter that listing? My MLS has a field for List price. I can't put in a high & a low when I enter a listing, I have to put in a definitive number. The few times I've seen it here, the listing agent enters a list price, then defines the "range" in a comments field. Do other MLS systems have a list price field that supports range pricing?
Our MLS has 3 fields.... Low Price, High Price then a box you check for Variable Pricing. It's at the very front where the list price is input into the system.
Hi. Im guessing it means that that is the price range the sellers are looking to sell. Why do people do this? Does that generally mean they wont counter or dont want to hear offers that are out of this range? I was just hoping for some experiences or insight. Thanks
Easy, it is called fuzzy mathematics.
Just make your offer $549-$649 and see what happens . May be you can even attach some probability with the range.
Interesting. Are you sure it's not a spec house or something and depending on the price you pay, you get certain things?
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