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Price range for active listing on MLS

One would think that if the OP has full access. There would be some commentary explaining the listing range
 
Hi,
I have been going through the MLS and seeing the active listings have been stated as price ranges instead of a single number amount, for example: 1234 Aardvark Street $500,000 - $550,000. Most listings are closing at or above listing price. What is technically the listing price and why? What proof could I give a reviewer that the listing price in the sales comparison grid that the listing price is that price? The more technical and objective the answer, the better. Please tell me your thoughts.
Don't know about in CA but here in MA, there have been several real estate companies that have been doing this for years, called "range-based pricing". The idea is to not give a buyer a set price to gauge an offer but to "throw the ball in their court". It effectively says, "don't even bother with any offer below $500,000. I will entertain offers in the $500-550k range and higher.".

For your client, just state what I said. "The listing price for listing comp one is 'range-based pricing' of $500,000-$550,000.".
 
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Hi,
I have been going through the MLS and seeing the active listings have been stated as price ranges instead of a single number amount, for example: 1234 Aardvark Street $500,000 - $550,000. Most listings are closing at or above listing price. What is technically the listing price and why? What proof could I give a reviewer that the listing price in the sales comparison grid that the listing price is that price? The more technical and objective the answer, the better. Please tell me your thoughts.
Nowadays, many older homes require extensive updating. So, it becomes a question of how much the buyer expects the seller to repair or discount. Some buyers can live with old aluminum wiring, but some want all the old wiring updated—and you know that means calling in the electrical, drywall, and painting subs. These defects are so prominent that about any home inspector will report them, and the seller will assume they will not go unnoticed. So, that range gives you some indication about the games the buyer will have to play.

How do you compare such a list price to a sale price? --- You can't really compare unless you know the contract details. Otherwise, you have to have some logic about using the min, max or average.
 
I have been a Realtor in Texas for 11 years, the Austin Board of Realtors MLS doesn't allow a range on any listing on their MLS, you can only imput one listing price, a range is not an option, I have actually never heard of such a thing. :unsure:
 
I have been a Realtor in Texas for 11 years, the Austin Board of Realtors MLS doesn't allow a range on any listing on their MLS, you can only imput one listing price, a range is not an option, I have actually never heard of such a thing. :unsure:

On average, buyers, agents and appraisers in Massachusetts are not necessarily smarter but more flexible and adaptive than those in Texas.

Using a range list price in Texas would create a lot of confusion for Texans. It's a different way of thinking - that may not actually mean that much: I mean what is the difference between a list price of $450-$500K and $450K, when the market value is $400K?
 
I have actually never heard of such a thing.
The NE Oklahoma MLS used to allow SF to be listed as 1500-2000, 2000-2500. etc. and did so because 1.5 story homes were the footprint of the dwelling plus 50% for the upper level.
 
This is called a “variable price” listing in my MLS. It was starting to be used in the ultra hot market, but disappeared after the 20-30 offers per listing went away
 
I haven't seen that but I'd imagine the lower extreme of the range, $500,000 is what I would use.
 
On average, buyers, agents and appraisers in Massachusetts are not necessarily smarter but more flexible and adaptive than those in Texas.

Using a range list price in Texas would create a lot of confusion for Texans. It's a different way of thinking - that may not actually mean that much: I mean what is the difference between a list price of $450-$500K and $450K, when the market value is $400K?

With what information are you basing your claim on, have you lived, worked and sold real estate in both Mass. and Texas????:unsure:
 
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