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The Boston Real Estate BlogI am an independent real estate broker, focused on the residential real estate market in downtown Boston. |
Value Range Pricing - what’s the point?
I've never understood the concept of "Value Range Marketing" or "Value Range Price."
According to The Lund Team in San Diego, "Value Range Marketing is a simple pricing strategy designed to bridge the gap between the seller’s high opinion of value and the buyer’s &8216;low-ball' mentality. Thus, VRM opens the line of communication earlier than traditional fixed price listings, allowing the market dynamics to dictate the final sales price."
In Boston, Prudential Prime Properties advertises condos with VRM's. I've yet to see any other agencies use them.
I don't get it.
If a property is listed with a VRM of, say, $438,202 - $497,549, guess what? I'm going to offer $438,202 (or less!).
Huh?
More: Highs and Lows in Home Pricing - Glenn Roberts Jr., Inman News blog
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