Value Range Pricing: Good Idea or Not?
It used to be common to see a home listed for a value range, rather than a single price. For example, you might see a property listed for $532,000-$498,000 instead of $515,000. However, value range price is almost never used anymore for the following reasons:
- Most MLS boards no longer allow value range pricing.
- The major real estate websites like Zillow, Trulia, Redfin and Realtor.com are not set up for value based pricing. This fact likely explains why most MLS boards have abandoned it.
- There is no evidence to suggest that value range pricing is effective. Our experience was, if buyers see $499,000 to $530,000, they read it as $499,000.
You do, however, still sometimes see listings that have a statement in the listing description on what range of offers the seller is willing to consider. This tactic is most often used if a seller is looking for the home to move quickly.
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