Someone, Please, Explain the Benefits of Range Pricing

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Real Estate Agent with Christie's Great Estates | Pacific Union International

Lots of folks are talking about it around the country.  It is a method of pricing homes in a range.   For example, putting a house on the market for $1,000,000 to $1,100,000.  I understand that it is common practice in some places (San Diego, California being one).  But, the MLS where I am, Marin County, California, doesn't accommodate it.  And even if it did, I am not sure I would do it. 

That's where you come in-I know there's lots of knowledge out there.  So, someone, please, explain the benefits of range pricing?  And beyond that, how do you convince a seller that they won't be inviting "low" offers (e.g., ones at the bottom end of the price range)? 

Looking forward to learing....

Posted by

Kyle Frazier | (415) 350-9440 | Kyle@ImagineMarin.com

Broker Associate, J.D. | Certified Residential Specialist | Certified Luxury Home Marketing Specialist | DRE 01405738
Pacific Union International & Christie's Great Estates -- Marin County, California

 

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Rainmaker
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John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

Range pricing was a hot topic on AR a couple of months ago. Broker Bryant and The Lovely Wife are the undisputed authorities on it. Here are a few of their posts:

Jan 18, 2007 01:44 PM #1
Ambassador
553,912
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Kyle...

Ahhh. John Novak has you covered here :)

Follow the links then come back and tell us what you learned :)

TLW...ROAR!

Jan 18, 2007 07:28 PM #2
Rainmaker
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Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

You guys always beat me! 

Kyle - I just got a seller to range price his property here in Miami and sent him the link to Bryant's post to convince him.  It's a great tool, especially if you are in a difficult price range. My customer's condo was listed at $429K, which means anyone looking to stay under $400K would not get the listing in the MLS.  Now the range is between $399K and $429.

And if you have any questions while you're reading the blog, shoot questions, BB and TLW are awesome at helping out.

Ines

Jan 18, 2007 08:20 PM #3
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Rainmaker
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Kyle Frazier

Kyle Frazier , CRS & Marin CA Realtor
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