Home Buying in Vail>Question Details

Bob Frazier, Real Estate Pro in Tucson, AZ

Why are LA's allowed to list homes as "range priced" on Trulia? Seems to me a cheap trick to defeat a "sort by price" search and deceptive. Anybody?

Asked by Bob Frazier, Tucson, AZ Sun Sep 9, 2012

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Range Price can be an effective listing tool, if used correctly. The range $ figure listed should also be supplemented in the remarks section of the listing. It should say, offers will be considered between ___ and ___, therefore disclosing the intention. Reading between the lines, I interpret that the seller REALLY wants the high end of the range, and there may be something unique about the property that will encourage that price. As with any property, you can make an offer that is outside of range, and the seller will have the opportunity to respond.
1 vote Thank Flag Link Wed Mar 13, 2013
What difference does it make:
The LISTING PRICE is not set in stone; it is a guideline, and a poor one at that, to the worth.

You can offer whatever you want, and the Seller can tell you to climb a rope!
0 votes Thank Flag Link Sat Jan 12, 2013
In response to Bob Frazier, I do not agree with "Range Priced" marketing tactic and think it is an outdated pratice. However, I can tell you it is allowed by MLS and by TAR (Tucson Association of REALTORS®).

I do feel that if they list it, should be at the higher end, not the low end the sellers are really not interested in selling it. You also bring up a very good point I agree 100% on, sites like MLS, Trulia and etc should note to the general public if a property is a Short Sale. As it stands today, they don't as they feel it is not fair to the seller. However, if a property is being listed for a price no one knows if the bank will allow, and could take 6 months to close, is this not good information for a potential buyer to know?
0 votes Thank Flag Link Sat Jan 12, 2013
I disagree.

I think range marketing is nothing short of stepping in line where one doesn't belong. It, along with short sale prices that are unattainable and REO prices that cause a bidding war and end up selling well above asking ALL paint an inaccurate picture of the housing market. It's a cheap trick that stands in the way of honesty and integrity, not a technique to provide users with an added value. No honest Realtor should be using range pricing - it's a sloppy poor excuse for being priced right to begin with.
0 votes Thank Flag Link Wed Jan 9, 2013
Range price marketing is acceptable, in fact some agents list on MLS as well. This is an outdated way to list properties in today's market. I do think if a listing agent lists a property as range price, it should be listed at the high end, not the lower number.
0 votes Thank Flag Link Wed Jan 9, 2013
One of the reasons this is done is to put listing in different price brakets. If a client is looking up to 200 and a listing is price ranged from 199 to 230 it would allow the listing to come up on their search. The price range does indicate the Seller will take prices within the range and sometimes prevents low ball unrealistic offers. If if there are multiple offers on a property, a buyer's agent would probalby advise the buyer make an offer over the bottom price listed.
0 votes Thank Flag Link Mon Sep 10, 2012
The properties that I have seen listed this way are not listed by a listing agent but by a third party site such as Realty Trac. I know it probably appears to be deceptive but since most of these listings do not indicate a specific property and it is not put on the site by a licensed agent there is probably not much that can be done. It is simply an advertisement. If you want real listings and real list prices then you can always use one of my sites.

http://www.RanchoElDoradoRealEstate.com
http://www.PinalCountyAZHomes.com
0 votes Thank Flag Link Sun Sep 9, 2012
Thank you Rocky... that makes sense.
Flag Sun Oct 7, 2012
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