A second question must be answered before I can be absolutely sure that range pricing works. A set price listing is the price the seller wants to get, while a value range listing will be lower to higher than what the seller wants to get; the idea is to put in a lower range to attract buyers searching the MLS in the lower price range, and hope this buyer will come up with the extra money for the home.
For example, say I have a house that should sell for $805K. I price it at $805K. My neighor with the identical house uses value pricing of $775K – $825K. We both get offers for $805K. Same houses, same offers. Now your data shows I got my asking price, and he got above the lower end of his asking price, confirming your bias that range pricing works. But it didn’t make any difference in this example.
I would like to know from the realtors if range pricing works.
