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Old 04-19-2012, 06:40 AM
 
903 posts, read 3,564,980 times
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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
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Old 04-19-2012, 07:51 AM
 
Location: Raleigh, NC
19,360 posts, read 27,571,517 times
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What site are you looking at? Can you provide a link?
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Old 04-19-2012, 08:22 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,889,971 times
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Quote:
Originally Posted by amyla View Post
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.
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Old 04-19-2012, 08:30 AM
 
683 posts, read 458,540 times
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I'm guessing the thought behind it is that the sellers are hoping for multiple offers, and then they would choose the highest.
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Old 04-19-2012, 09:11 AM
 
Location: DFW
40,919 posts, read 48,833,863 times
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Quote:
Originally Posted by Bill Keegan View Post
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.
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Old 04-19-2012, 09:17 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,889,971 times
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Originally Posted by Rakin View Post
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?
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Old 04-19-2012, 09:47 AM
 
Location: Southern New Hampshire
10,009 posts, read 17,917,349 times
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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!
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Old 04-19-2012, 11:57 AM
 
Location: DFW
40,919 posts, read 48,833,863 times
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Quote:
Originally Posted by Bill Keegan View Post
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.
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Old 04-20-2012, 03:18 PM
 
2,729 posts, read 5,174,071 times
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Quote:
Originally Posted by amyla View Post
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.
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Old 04-23-2012, 10:01 AM
 
2,957 posts, read 5,865,642 times
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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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