What is value range pricing?

HGTV and E! featured Louie Ortiz reviews definitions of value range pricing and how this can be a strategic way to market and sell your home.

What exactly is value range pricing anyway,
value range pricing is a pricing strategy where seller markets of property in the MLS,
where it typically says the seller will entertain offers between two prices.

Typically there’s a high price and a low price. Statistically 91% of buyers start their home search online when you use a pricing strategy, your property is seen by more prospective buyers. 

Let me give an example, let’s say, for example, you price your property at a million dollars and maybe with the idea that, well, I can always come down on my price if you price it at a million dollars, you may have buyers in your market place where maybe their top searches, maybe 9oo,ooo or 950,000 in that instance. Your property might not even show up in their home search. 

If you have a value range pricing, say, your value range pricing is 98 9,000 to 9 99,000 for example your property is automatically going to be seen by more prospective buyers and because your property is going to be seen by more prospective buyers, you’re also more likely to have more showings.

Great to have more people looking and expressing interest in your property. So another advance value range pricing is typically more showings for your property. Another advantage of value range pricing is you typically get more offers for your property in a shorter amount of time because more people are seeing the property And also because you’re getting more showings you oftentimes will get more offers in a shorter amount of time.

And finally, another advantage because you’re getting more offers, that becomes a point of leverage. Imagine if you have multiple offers on your property many times a bidding work can be created that will help push your property up.

So there are a lot of advantages to value range pricing. So one of the most common questions that we get is if you use value range pricing, why would any buyer ever write an offer over the lowest price in my range? It’s a great question. The reality is is that there is nothing that we can do to prevent a buyer from right and offer at any price. Maybe you have a static price of say a million dollars and a buyer might write an offer at 8 There’s nothing that we can do to control the buyer from offering what they feel is fair market value. But the advantage of the value range is that it typically causes a bidding war in a shorter amount of time.

So is value range pricing right for you? Contact a member of our team and let’s review options of pricing strategies, intelligent pricing strategies to make sure that your property is sold at the best price possible and priced well to attract the right type of buyers. If there’s anything that we can do to help you please contact any member of our team, we would enjoy sharing with you other marketing strategies to support you and your real estate goals. Thanks for watching.

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