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Rainmaker
882,826
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

When I worked for Pru, my broker has 10 Pru offices in AZ. He did not let us employ VRP. He did not like it, felt it gummed up the works. And he was very sophisticated.

Mar 06, 2016 11:29 PM
Rainmaker
570,381
Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

I was a broker in Temecula in the late 90's. I vote for A JOKE, every buyer wanted low range every seller was expecting high. The Buyer didn't feel he was lowballing by being in the range yet you were set up for controntation.

Mar 06, 2016 10:55 PM
Ambassador
4,542,211
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's pretty common here but I don't get it and buyers always ask "why wouldn't I just come in at the bottom of the range?" Some omes sell below  then range, too

Mar 06, 2016 10:38 PM
Rainmaker
1,711,737
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

It didn't work back then & someone keeps reviving it. There are so many reasons not to use it, just price it right & it will sell. Quit the gimmicks.

Mar 07, 2016 02:36 AM
Rainer
230,924
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

our issue with it is the other platforms dont acknowledge it, 2) on a search, it doesnt include the "range" just the highest value

Mar 06, 2016 10:52 PM
Rainmaker
290,569
Allie Angeloni
Long Realty - Oro Valley, AZ

We have never used it, though I'm familiar with the term from school Thomas J. Nelson, Realtor.  Also, I have not seen it used.  My first thought would be the Seller wants the 'high end' pricing, though the Agent feels it's not 'realistic' based on area Comps, where the realistic price is on the 'low end'.  My second thought is that everyone will go to the 'low end'!

Mar 06, 2016 10:39 PM
Rainmaker
1,393,738
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

It is like all the auction sites we will start here but it may not buy the property!

Mar 06, 2016 09:43 PM
Rainmaker
1,982,400
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

never understood it - never used it

Mar 06, 2016 09:43 PM
Rainmaker
1,375,942
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I see it once in a while, I can't stand it.  I just offer the lower.  Will never go higher.  Wish it didn't exist.

Mar 07, 2016 08:25 AM
Rainmaker
3,315,849
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I HATE it, never once has a seller ever taken an offe ron the low end. 

Mar 07, 2016 08:19 AM
Rainmaker
3,985,831
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I give a value range, but it is a narrow range

Mar 07, 2016 05:52 AM
Rainer
45,807
Andy Madrid
Hawaii Coast Realty, LLC - Kailua-Kona, HI
Expertise, Professionalism, and Service

No I dont see the "value" in it.  As has already been mentioned, the buyer will come in under that range anyway.

Mar 07, 2016 05:19 AM
Rainmaker
1,632,742
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

It has backfired on us when representing buyers. The sellers just reject the low range offer stating they will wait for a higher offer.  As said, a LP is merely inviting offers, and even a LP offer can be rejected, although, a commission may be due from the seller.

Mar 07, 2016 04:32 AM
Rainmaker
878,411
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

As an IQ test it should work well.

Any number appearing within range that the seller will not accept indicates someone did not set the stage correctly.

Listing agent have an obligation to protect their seller. It is one thing when the buyer agent has folks packing zillowite paper, but entirely different if the listing agent harms the seller based on numbers the agent allowed to be published. The listing agent that did not figure that out give credence to the higher standard chorus so many sing.

Mar 07, 2016 04:16 AM
Rainmaker
814,732
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

When I started I was at Prudential and they were "pushing" it. It's not an easy concept to explain; think it's better to just go a tad under where you think the real price should be if your sellers go along with it.

Mar 07, 2016 02:58 AM
Rainmaker
5,488,006
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Thomas,

I first saw it in your area, and at the time we were working with two San Diego agents (since retired).  It does not make sense to me, it is more like auction language!  A

Mar 07, 2016 12:21 AM
Rainmaker
1,708,985
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I don't understand it so won't make a judgement.  

Mar 06, 2016 11:46 PM
Rainmaker
5,571,077
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've never used it in my marketing.....

Mar 06, 2016 11:36 PM
Rainmaker
140,568
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

I've never heard about it before.  Write a blog about how it works!

Mar 06, 2016 11:26 PM
Rainmaker
6,499,544
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

It is not something that we see in our market.

Mar 06, 2016 11:24 PM
Rainmaker
3,966,232
Richard Weeks
Dallas, TX
REALTOR®, Broker

Never used it and have no plans to.

Mar 06, 2016 10:47 PM
Ambassador
1,365,701
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Not something used in my market.  I do say "Offers invited at $x,xxx,xxx"

Mar 06, 2016 10:46 PM
Rainmaker
140,495
Chrissi Chapman Topoleski
Coldwell Banker Realty - Woodbridge, VA
Passionate about helping others achieve success!

I have no experience with it, so don't quite understand how it works

Mar 06, 2016 10:40 PM
Rainmaker
1,453,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Thomas J. Nelson, Realtor One company tried it a while back, but it didn't catch on at all.

Mar 06, 2016 10:24 PM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

not used here

Mar 06, 2016 10:20 PM
Rainer
98,723
Becca Rasmussen
HomeSmart Cherry Creek - Highlands Ranch, CO

I'd never heard of it, so I'd say it's not a hot pricing method in the local market. I looked it up, I don't believe I would want to use it. 

Mar 06, 2016 10:15 PM
Rainmaker
2,018,930
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Most buyers I know would gravitate to the lower end ! 

Mar 06, 2016 09:51 PM
Rainmaker
4,123,684
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not a joke, but not a solution either!

Mar 06, 2016 09:51 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Thomas J. Nelson, Realtor Value Range Pricing is not used in my market, western PA.

Mar 06, 2016 09:45 PM
Ambassador
5,329,265
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I need to look this up.

Jun 05, 2019 09:48 PM
Rainmaker
4,848,360
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Guess I find it weird, we list at a price not a range.

Mar 07, 2016 11:34 PM