Value Range Marketing was created a number of years ago in an attempt to bring sellers and buyers together in a challenging market. We’ve used it in the past but not recently, until today.
The idea, at the most basic level, is that any offer is better than no offer. If a buyer feels that a house is overpriced, they may move on when it is really the house they want and the seller was willing to sell it for a lower price. None of that can be conveyed in a fixed asking price. The range doesn’t mean the seller is willing to sell at or anywhere near the bottom of the range. It does mean that they won’t be insulted by an offer at the bottom of the range and outright reject it. They’ll negotiate which is the first part of any sale!
In this case, the top of the range is a price drop. We were listed at $850,000 and the range is $750,000- $848,876. The ,876 in the pricing allows a PVRM property to be seen when listings are presented in list form. We hope that the price drop and the creation of the range will help get the house sold in an area with an increasing inventory homes.
One note about RMLS and PRVM. RMLS only allows the high end of the range to appear in the listing- we have to put the PRVM portion in the remarks like this: “Seller will consider offers between $750,000- $848,876.” Some MLS systems allow for the range to appear so it is returned in more searches.