Home Buying in Methuen>Question Details

Christine A, Home Buyer in Methuen, MA

What does VRP seller mean?

Asked by Christine A, Methuen, MA Fri Dec 4, 2009

http://www.trulia.com/property/1086443589-26-Railroad-St-Met… I wondering about this property info VRP?

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Answers

7
What does VRP seller mean? All of the agents answers are correct based on the actual concept of Prudential Real Estate and what the buyer should know about those type of listings. The goal has been accomplished when a property has this type of designation it creates conversation and good market valuation between the buyer and their agent. No matter if the property is listed as VRP or some variation in the remarks keep in mind that LOCATION, CONDITION AND PRICE should always apply in some way.
0 votes Thank Flag Link Sat Apr 28, 2012
If you like a home and are considering making an offer, talk with your buyer's agent about the market value. I always provide my buyer clients with a market analysis report for a home before making an offer. A seller can have VRP with the entire range being overpriced or maybe it is around the actually market value. Your buyer's agent can help you determine this. One reason you may not want to offer the lowest price in the range is that if you really like the home and if it happens to be priced competitively you might lose out to a higher offer. It really just depends how much demand there is for a property and how aggressively it is priced.
Web Reference: http://teamlefebvre.net
0 votes Thank Flag Link Sat Nov 12, 2011
Because there's nothing to say the seller will accept any offer. There is price, terms & dates that are also of importance. Personally I've found it's a valuable tool in marketing some property others not so much. At the end of the day you need to figure out what the property is worth to you with your given terms and dates involved.

Hope that helps,
0 votes Thank Flag Link Fri Oct 21, 2011
So if a home is VRP 229,900 - 234,900, why in the world would anyone offer anything other thatn the 229,900 price??
0 votes Thank Flag Link Fri Oct 21, 2011
VRP stands for Value Range Pricing...which means if a house is listed as a VRP the seller is willing to entertain all offers in that price range.

Hope that helps. Let me know if I can be of any assistance?
Heather Giuffre
Coco, Early & Associates
978-502-9809
0 votes Thank Flag Link Tue Mar 30, 2010
It's actually another company making their own value range for the property. Prudential has a company specific model they use. Google: Prudential Value Range Marketing.

Basically it means that the seller is willing to entertain offers within a certain range of prices. There's nothing that says they'll accept it at the top of the range or the bottom of the range or another price entirely. There's more to an offer than price alone. You could always ask the listing broker for specifics or use the services of a local buyers agent experienced with this type of marketing method.

Hope that helps,
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Fri Dec 4, 2009
It means variable range. They will look at offers between price x and price y. It is a marketing concept that Prudential uses to supposedly increase buyer traffic.
0 votes Thank Flag Link Fri Dec 4, 2009
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