Special offer

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Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

You see it still on occasion but it's rare. It was more prevalent a few years ago but didn't really gain traction. In a strong market it seems the upper price typically was the starting point and in a more competitive buyers market, the lower range seems too high especially for bottom feeders. If I remember correctly it seems this strategy started in San Diego with Prudential before they became BHHS in California.  I never tried it for multiple reasons primarily because it seemed too "flukey".

Feb 16, 2019 10:49 AM
Ambassador
5,230,079
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

We used to have that option here but, the problem was the buyers would always Offer below the low number in the range. Do you guys use variable range there, Jeff?

Feb 16, 2019 01:00 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It's not. I remember when Prudential was "pushing" it here about 20 years ago. It never took off. You give them a lower range and buyers would start making offers below it. They just didn't get the idea. I haven't seen a property offered in a price range for at least 15 years.

Feb 16, 2019 11:21 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Nope, an old concept that did not go over somewhat like the Edsel. Lots of fanfare out of the gate & then nothin'.

I always thought it was just stupid.

Feb 16, 2019 11:15 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

We do not have it. I think it sounds odd. I agree with Kenneth J. Jones. Buyer will want to pay the lowest and seller will want to receive the highest. Seems like it would cause more problems. We all already know that an asking price is negotiable (sometimes to lower and sometimes to higher). -K 

Feb 16, 2019 11:14 AM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

It's a SoCAL thing Jeff. From all whom I've asked in my network, no one, including NorCal agents have ever heard of it. It's a Prudential marketing scheme from 1990's in San Diego, made it's way up to OC & LA but not much further it seems. I discovered it 15 years ago when I moved here and thought "amateurs"!

Feb 16, 2019 04:43 PM
Ambassador
3,169,508
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

I've never seen it in this area and not sure how our MLS would even accomodate it.  They put in ONE number, not a range.  And normally in our area all prices are considered negotiable, so you've got a built in range already depending on the competition available.

Feb 16, 2019 06:36 PM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

This was a thing when I worked for Pru 2004/2005. I also distinctly remember my broker at the time saying we're not doing it, even though it was in our marketing pieces.

Feb 16, 2019 03:42 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff,

I know that San Diego is known for this type of pricing, and originated it many years ago.  Personally, I find it disingenuous.  I would not go near any home that was priced that way, and Kenneth J. Jones said it well.  And Kasey & John Boles also made a good point...and it is also indicates a wishy-washy seller...A

Feb 16, 2019 01:23 PM
Rainmaker
1,374,373
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Homes

Not very common in my area. 

Feb 16, 2019 11:12 AM
Rainmaker
961,383
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

I seldom see it.  When it occurs, it usually is for property with more than one lot. Price is $x for house or $xx for house and adjacent lot.

Feb 16, 2019 10:44 AM
Rainmaker
469,510
Dan & Laurie Pittsenbarger Team
Keller Williams Western Realty - Bellingham, WA
Lakeside & Coastal Single Family Homes

Heard about it years ago but not used in my area.

Feb 17, 2019 07:32 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Nope.  Seen it once.  My reaction: "If they're willing to accept 599,900, why not just price it there?"

Feb 16, 2019 06:37 PM
Rainmaker
805,909
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

No it is not common in our market and no I do not use it. It wouldn't make sense to have it, as buyer are going to go in on the low price and probably offer lower unless in a bidding war. Right now our market is very close to being a buyers market.

Feb 16, 2019 04:00 PM
Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We do not, although I know this is common in other markets.  For me, the listing price is the asking price - why the variable?

Feb 16, 2019 03:11 PM
Ambassador
3,125,819
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

1. Not at all Jeff. 2. I have never used it. 3. Most buyers will not come up to the lowest price in the variable. 

Feb 16, 2019 02:36 PM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've never used it.... rarely do you see a listing promoted in that fashion.... I could never understand why anyone would use it....

Feb 16, 2019 01:45 PM
Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It's an option for us to use here, but I've never used it or seen it used by other agents. A serious buyer's offer will reflect how serious they are about buying a property. Variable range might confuse some buyers, but there will probably be some serious buyers that offer the high range amount if they really want the house. And a lower price could have better terms than an offer at the high range.

Feb 16, 2019 01:30 PM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The traditional way i.e. I ask for a price and you agree or counter etc. works for me. This spread says: I want anything in this range. OK...The buyer will go the lowest part and you will do what?

Feb 16, 2019 12:07 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Range pricing was a fad. It seems to have gone away. I always thought that it was stupid. I would make the offer at the low end of the range if the seller has indicated that price. Why would I offer more unless there was a multiple offer situation?

Feb 16, 2019 12:00 PM
Rainmaker
2,220,423
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not common in my area. 

Feb 17, 2019 03:19 PM
Ambassador
3,383,334
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I have never understood value range pricing.  It's something we can do, but if a seller wants to go for the max money, why on earth would they show a low end of what they would potentially accept?  I don't get it.

Feb 17, 2019 08:25 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Several years ago it was a trending thing to do.  I am not a fan of it. Just make your offer and be done with it. 

Feb 17, 2019 07:54 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

There is only 1 company that doe sit in my area, and makes every buyer mad when they offer the low amount and the seller states they only want the high amount. 

Feb 17, 2019 07:30 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have never used a range or seen a range used in our market.

Feb 17, 2019 06:47 AM
Ambassador
2,161,048
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

No, I haven't seen it in our area. I remember Bryan Tutas always writing about it on AR. 

Feb 17, 2019 06:28 AM
Rainer
213,263
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

It was one of the dumbest ideas that a company can try...could you imagine your pasta dinner will be $6.99 to 9.99? Take a guess at what the price ends up at? IF you only brought $7.50 with you then why order?  

 

A company here tried it, for a minute.

Feb 17, 2019 02:41 AM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I have not noticed it.

Feb 16, 2019 09:10 PM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

No.

Feb 16, 2019 06:29 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It was tried by one franchise awhile back and it was a resounding dud.

Feb 16, 2019 03:57 PM
Rainmaker
5,216,398
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

We tried to adopt it statewide in Florida with 65 offices across the state and the backing of a major national franchise many years ago when the idea first surfaced.. The resistance was high and the attempt failed. 

Feb 16, 2019 01:09 PM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Very rarely do we use it.

Feb 17, 2019 10:33 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It is not used in my area.

Feb 17, 2019 06:25 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Feb 17, 2019 03:27 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Not common here also.

Feb 16, 2019 07:47 PM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

No, our MLS requires a certain price, not a range.

Feb 21, 2019 07:41 AM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It was introduced around 2004, during the "hot" real estate years and believe was used in California more, but never took root in Connecticut. It's kind of hard to explain to sellers and make them comfortable with it.

Feb 18, 2019 01:44 PM
Rainmaker
4,936,683
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Have not seen it in a long time in Denver.

Feb 18, 2019 10:36 AM
Rainmaker
666,639
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Jeff ~ I have never seen a property listed under that option in my 15 years here in Northern Virginia, though it has been an option over that time.  We just switched over to BrightMLS and think it is still an option, but not 100%.

From my perspective, it just doesn't make much sense for the seller and leads to confusion.  Price it right from the start at a single number and get it sold...

Feb 18, 2019 09:54 AM