I don’t like dealing with VRM, but it’s here to stay.
The reason I don’t like it is that you really don’t know what the seller will accept as an offer. It seems to me that most VRM listings sell somewhere between the upper and lower price, not typically below the low price. When the market was strong it was not unusual to see homes sell at or near the top price.
If I’m in the market to buy, and a house is listed at $700,000, I know that the seller will accept $700,000. He may accept way less than $700,000, too. But if a property is listed at $675,000 to $725,000, you can’t be sure that the seller will accept $700,000. It’s not hard to figure out what the fair market value is, but you don’t know what the seller is looking for with a VRM listing.
