I’m an appraiser and broker. I get a few listings a year from clients who call for ‘pre-listing’ appraisals that I’m able to convert into actual listings.
Even in this soft market, I think there are some advantages to value ranges. Most agents I speak to are shooting for a mid value when using a range. When I use a range, I’m shooting for the low end. I’ll price the range with the bottem end being what my client indicates is their bottom line. If we get an offer somewhere in the middle, that’s a bonus. If we get an offer on the low end, which is what we want, the buyer feels like they got a deal because they ‘low balled’.
As an appraiser, I see comps all the time that were obviously mis-priced using a single value point. Sellers sometimes leave money on the table, even in a soft market. Many real estate agents simply don’t understand how to run an accurate CMA.
