When I worked for Pru, my broker has 10 Pru offices in AZ. He did not let us employ VRP. He did not like it, felt it gummed up the works. And he was very sophisticated.

I was a broker in Temecula in the late 90's. I vote for A JOKE, every buyer wanted low range every seller was expecting high. The Buyer didn't feel he was lowballing by being in the range yet you were set up for controntation.

It's pretty common here but I don't get it and buyers always ask "why wouldn't I just come in at the bottom of the range?" Some omes sell below  then range, too

It didn't work back then & someone keeps reviving it. There are so many reasons not to use it, just price it right & it will sell. Quit the gimmicks.

our issue with it is the other platforms dont acknowledge it, 2) on a search, it doesnt include the "range" just the highest value

We have never used it, though I'm familiar with the term from school Thomas J. Nelson, Realtor.  Also, I have not seen it used.  My first thought would be the Seller wants the 'high end' pricing, though the Agent feels it's not 'realistic' based on area Comps, where the realistic price is on the 'low end'.  My second thought is that everyone will go to the 'low end'!

It is like all the auction sites we will start here but it may not buy the property!

never understood it - never used it

I see it once in a while, I can't stand it.  I just offer the lower.  Will never go higher.  Wish it didn't exist.

I HATE it, never once has a seller ever taken an offe ron the low end. 

I give a value range, but it is a narrow range

No I dont see the "value" in it.  As has already been mentioned, the buyer will come in under that range anyway.

It has backfired on us when representing buyers. The sellers just reject the low range offer stating they will wait for a higher offer.  As said, a LP is merely inviting offers, and even a LP offer can be rejected, although, a commission may be due from the seller.

As an IQ test it should work well.

Any number appearing within range that the seller will not accept indicates someone did not set the stage correctly.

Listing agent have an obligation to protect their seller. It is one thing when the buyer agent has folks packing zillowite paper, but entirely different if the listing agent harms the seller based on numbers the agent allowed to be published. The listing agent that did not figure that out give credence to the higher standard chorus so many sing.

When I started I was at Prudential and they were "pushing" it. It's not an easy concept to explain; think it's better to just go a tad under where you think the real price should be if your sellers go along with it.

Thomas,

I first saw it in your area, and at the time we were working with two San Diego agents (since retired).  It does not make sense to me, it is more like auction language!  A

I don't understand it so won't make a judgement.  

I've never used it in my marketing.....

I've never heard about it before.  Write a blog about how it works!

It is not something that we see in our market.

Never used it and have no plans to.

Not something used in my market.  I do say "Offers invited at $x,xxx,xxx"

I have no experience with it, so don't quite understand how it works

Thomas J. Nelson, Realtor One company tried it a while back, but it didn't catch on at all.

not used here

I'd never heard of it, so I'd say it's not a hot pricing method in the local market. I looked it up, I don't believe I would want to use it. 

Most buyers I know would gravitate to the lower end ! 

Not a joke, but not a solution either!

Thomas J. Nelson, Realtor Value Range Pricing is not used in my market, western PA.

I need to look this up.

Guess I find it weird, we list at a price not a range.