Help Me Understand. What is the logic behind a large asking price spread?

[ibjames]

I think it’s stupid. Why have it listed at a price you wouldn’t sell at? My wife and I would put offers (before we started doing our research) and they would act offended that we came in that low. WTF?

[gn]

It’s a gimmick designed to make buyers think they got a good deal.

For example: $1 mil. – $1.2 mil.

In this case, the seller probably would be happy to get an offer at $1 mil. And the buyer might think: “I got a good deal, the seller reduced it by $200k.”

[gn]

It’s a gimmick designed to make buyers think they got a good deal.

For example: $1 mil. – $1.2 mil.

In this case, the seller probably would be happy to get an offer at $1 mil. And the buyer might think: “I got a good deal, the seller reduced it by $200k.”

[gn]

It’s a gimmick designed to make buyers think they got a good deal.

For example: $1 mil. – $1.2 mil.

In this case, the seller probably would be happy to get an offer at $1 mil. And the buyer might think: “I got a good deal, the seller reduced it by $200k.”

[gn]

It’s a gimmick designed to make buyers think they got a good deal.

For example: $1 mil. – $1.2 mil.

In this case, the seller probably would be happy to get an offer at $1 mil. And the buyer might think: “I got a good deal, the seller reduced it by $200k.”

[gn]

It’s a gimmick designed to make buyers think they got a good deal.

For example: $1 mil. – $1.2 mil.

In this case, the seller probably would be happy to get an offer at $1 mil. And the buyer might think: “I got a good deal, the seller reduced it by $200k.”

[ibjames]

Actually I think it’s to get it listed in more searches. So if I have a 400k max, and do a search.. people with houses with a 400-550 range get listed. They are hoping to get 475 and seeing if they can get me to overextend myself and swing it.

Though I don’t think that can happen as much as in the past due to changes in lending guidelines. So it probably is much less effective these day.

[ibjames]

Actually I think it’s to get it listed in more searches. So if I have a 400k max, and do a search.. people with houses with a 400-550 range get listed. They are hoping to get 475 and seeing if they can get me to overextend myself and swing it.

Though I don’t think that can happen as much as in the past due to changes in lending guidelines. So it probably is much less effective these day.

[ibjames]

Actually I think it’s to get it listed in more searches. So if I have a 400k max, and do a search.. people with houses with a 400-550 range get listed. They are hoping to get 475 and seeing if they can get me to overextend myself and swing it.

Though I don’t think that can happen as much as in the past due to changes in lending guidelines. So it probably is much less effective these day.

[ibjames]

Actually I think it’s to get it listed in more searches. So if I have a 400k max, and do a search.. people with houses with a 400-550 range get listed. They are hoping to get 475 and seeing if they can get me to overextend myself and swing it.

Though I don’t think that can happen as much as in the past due to changes in lending guidelines. So it probably is much less effective these day.

[ibjames]

Actually I think it’s to get it listed in more searches. So if I have a 400k max, and do a search.. people with houses with a 400-550 range get listed. They are hoping to get 475 and seeing if they can get me to overextend myself and swing it.

Though I don’t think that can happen as much as in the past due to changes in lending guidelines. So it probably is much less effective these day.

[Author]

Posts