Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
175,464
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

I have heard all the reasoning behind Range Price Listings, and they were real popular here in Tucson AZ at the height of the real estate market in 2004-2005.  However, I work with a lot of buyers, and they do not like it!  It starts off on the wrong foot, buyers look at the low # and sellers at the high number.

I have tried giving sellers a range when listing, 90%+ take the highest number.  Now, I show them the comps for same sub, and give them a $ I feel the property is worth, lower the price, the faster we can expect an offer. I get it, no one wants to leave money on the table.  Once i make the listing price suggestion, I listen.  If they want to go higher, see if we can reach a compromise as I know most sellers have to see what a property cant sell for before they can accept an offer.  I wont take it if it is too high, as we are wasting everyones time.  Good question!   Sorry for the novella I wrote in response.

Apr 21, 2015 04:13 AM
Rainmaker
3,951,684
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Praful -- I've never been a fan of the value pricing.  There used to be a broker in our area who used to advocate the practice, they seem to moved away from the concept.  It seems silly to me.  

Apr 21, 2015 10:18 AM
Rainmaker
5,570,625
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

you gain nothing except confusion.... just put a single number on the home and don't play games....

Apr 21, 2015 06:56 AM
Rainmaker
4,799,306
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 really see the value of range pricing.  I think a buyer can still make any offer they wish.  

Apr 21, 2015 06:24 AM
Rainmaker
1,135,477
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

everyone wants a good deal. This does not work when inventory is low and competion is high.

Apr 21, 2015 05:10 AM
Rainmaker
629,951
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

I don't like it.

Apr 26, 2018 08:14 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

A slap on the wrist from the Broker!! 

Sep 29, 2017 06:13 AM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks all for stopping by. I personally do not like this! And just don't understand the significance of it.

Why would someone want to list low and ask for more?

Apr 23, 2015 11:56 AM
Rainmaker
3,295,905
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Value range pricing leads to more upset buyers than deals. Every buyer wants to over the low number6 which never seems to be accepted. Dont offer a low number you wont accept is my thought. I just had a buyer who nearly went ballistic when they oferred the low amount and seller refused it. 

Apr 21, 2015 10:43 PM
Rainmaker
3,899,802
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't think we get anything... Prudential tried it years ago and it never really worked in Charlotte. Plus our mls can't list a range--you have to select a number and then write all sorts of explanations in agent remarks which buyers might or might not ever see (or understand).

Apr 21, 2015 09:28 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I never liked it and thought it was just a game. Give me the price, there is always a price.

Apr 21, 2015 01:48 PM
Ambassador
2,999,912
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I feel this may harm more than hurt a seller.  Set the price based on comps and let the buyers determine value with their offers.  It is a tried and true system that works so why mess with it?

Apr 21, 2015 11:15 AM
Rainmaker
868,621
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

$400,000 to $500,000.

Seller has authorized me to ignore outliers.

Recently appraised for $444,000

$500,000 for low assurance of closing

$400,000 for high assurance of closing.

Name your tune.

 

Apr 21, 2015 05:13 AM
Rainmaker
3,985,765
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

If I set a range it is very small.  I want the seller to understand what they are thinking, but not that I am willing to try the impossible.

Apr 21, 2015 05:12 AM
Rainmaker
858,538
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Praful - I am not sure what good a listing price range does anyone. As a buyer, I am sure they will be looking at the low end, if not even lower. As a seller, they will want the high end, if not higher. In your case, that is over a $50,000 difference. Seems like it would make it even more difficult to have a meeting of the minds between the buyer and seller.

I can't really think of any other thing people buy that has a price range for it; cars, TV's, boats, groceries, furniture, etc. Everything just has one price, and oftentimes you can still negotiate that price.

Apr 21, 2015 04:52 AM