Do you use Variable Range Marketing (VRM), also known as Value Range Pricing, in your listings? Why or why not? Do you think it works and how do you know? What do you like or not like about it?

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Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.)

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

I do not.

Dec 19, 2019 10:58 PM

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Rainer
279,878

Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

Praful does not like it - nor do I. Though I do not list.

Jul 25, 2018 11:55 PM

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Rainmaker
4,800,132

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I don't. I don't think it works.

Jun 12, 2018 05:16 AM

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Rainmaker
1,770,282

John Novak

Keller Williams Realty The Marketplace - Las Vegas, NV

Henderson, Las Vegas and Summerlin Real Estate

Hi Jeff - I remember Broker Bryant had quite a discussion about range pricing in the early days of AR. Here's one of his posts with 115 comments!

http://activerain.com/blogsview/12752/-the-proof-is-in-the-puddin---range-pricing-part-1-275-

Mar 17, 2015 07:20 AM

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Rainmaker
168,004

Dave Werth

WERTH REALTY - Fargo, ND

FULL TIME REALTOR

What range what? Explain as I am green on this subject... I am guessing I may be on of a few too....

Mar 17, 2015 06:30 AM

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Rainmaker
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Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239

Real Estate One - Commerce, MI

Michigan homes for sale ~ yesmyrealtor@gmail.com

I don't use it either as it is confusing to the seller. Keep it simple

Mar 17, 2015 06:21 AM

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Rainer
39,825

Jayne Meaut

Exit Allstar Realty - Mobile, AL

Graduate of Real Estate Institute

I don't use it. It looks too much like "bate and switch"

Mar 17, 2015 05:06 AM

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Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

I personally find it confusing, and it's hard to explain to buyers - they always ask, and say "why would I offer more than the bottom of the range?" Of course that is an opportunity for discussion. And sellers don't often seem to understand VRM either. I see homes all the time that sell understand range so one has to wonder

Mar 16, 2015 04:26 AM

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Rainmaker
1,241,879

Sam Shueh

(408) 425-1601 - San Jose, CA

mba, cdpe, reopro, pe

do your comps using 5 or 6 sold and active surrounding the Subject property. Show them pictorially.

Mar 16, 2015 01:55 AM

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Rainmaker
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Annette Lawrence , Palm Harbor, FL 727-420-4041

ReMax Realtec Group - Palm Harbor, FL

Making FLORIDA Real Estate EZ

This is a good tool to use IF the plan is to disorient and confuse the consumer THEN you follow up with a crystal clear value model that shows YOUR work.

This is an exercise of real estate professionals trying to show the shiny things they purchased instead of analyzing what the homeowner wants to know. The homeowner is NEVER asking you to present an avalanche of cloud generated data. NEVER!

My advise to agents is never present data for with you can not completely explain every element with confidence.

What works is simplicity.

Mar 15, 2015 10:27 PM

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Rainmaker
5,113,121

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

I tried it an one point, but found that the public found it very confusing. And it did nothing to bring me faster or higher offers on listings.

Mar 15, 2015 08:49 PM

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Rainmaker
2,443,250

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

If I am not mistaken that is the same thing that our CMA's do. It says your home is priced between this and that. Or are you talking about asking for offers between this and that? Who would volunteer to pay at the high end when given that choice?

Mar 15, 2015 02:08 PM

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Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

There was a time that our company did that and I hated it. I refused to do it, thought it was misleading to the public and made it difficult to explain to the consumers. I never saw the benefit.

Mar 15, 2015 12:19 PM

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Rainmaker
400,356

Jill Murty, Realtor - Orange County, CA

Movoto - Laguna Niguel, CA

I sometimes use Value Range Marketing. The reason I use it is because the MLS picks up the low end of the range in property searches. There's more exposure for the property and I think that's a good thing.

If you have a listing that's priced at 715k, people searching to 700k will never see it including people who could push above their max search price for the right property.

VRM is confusing and people naturally think "Why on earth would I pay above the low number in the range?"

It starts a conversation and could potentially create a multiple offer situation.

Mar 15, 2015 09:27 AM

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Rainmaker
443,220

Cindy Davis

SD Home Source Realty - San Diego, CA

Sometimes I like it and sometimes I don't. It also depends on the seller and their philosophy. I do find variable range marketing useful when I am not sure of precisely what the list price should be. There may not be recent comps or precise model matches. When that is the case, the range is a valuable marketing tool.

Mar 15, 2015 08:23 AM

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Hi Jeff - I remember Broker Bryant had quite a discussion about range pricing in the early days of AR. Here's one of his posts with 115 comments!

http://activerain.com/blogsview/12752/-the-proof-is-in-the-puddin---range-pricing-part-1-275-
What range what? Explain as I am green on this subject... I am guessing I may be on of a few too....
I don't use it either as it is confusing to the seller. Keep it simple
I personally find it confusing, and it's hard to explain to buyers - they always ask, and say "why would I offer more than the bottom of the range?" Of course that is an opportunity for discussion. And sellers don't often seem to understand VRM either. I see homes all the time that sell understand range so one has to wonder
do your comps using 5 or 6 sold and active surrounding the Subject property. Show them pictorially.
This is a good tool to use IF the plan is to disorient and confuse the consumer THEN you follow up with a crystal clear value model that shows YOUR work.

This is an exercise of real estate professionals trying to show the shiny things they purchased instead of analyzing what the homeowner wants to know. The homeowner is NEVER asking you to present an avalanche of cloud generated data. NEVER!

My advise to agents is never present data for with you can not completely explain every element with confidence.

What works is simplicity.
I tried it an one point, but found that the public found it very confusing. And it did nothing to bring me faster or higher offers on listings.
If I am not mistaken that is the same thing that our CMA's do. It says your home is priced between this and that. Or are you talking about asking for offers between this and that? Who would volunteer to pay at the high end when given that choice?
There was a time that our company did that and I hated it. I refused to do it, thought it was misleading to the public and made it difficult to explain to the consumers. I never saw the benefit.
I sometimes use Value Range Marketing. The reason I use it is because the MLS picks up the low end of the range in property searches. There's more exposure for the property and I think that's a good thing.

If you have a listing that's priced at 715k, people searching to 700k will never see it including people who could push above their max search price for the right property.

VRM is confusing and people naturally think "Why on earth would I pay above the low number in the range?"

It starts a conversation and could potentially create a multiple offer situation.
Sometimes I like it and sometimes I don't. It also depends on the seller and their philosophy. I do find variable range marketing useful when I am not sure of precisely what the list price should be. There may not be recent comps or precise model matches. When that is the case, the range is a valuable marketing tool.