“I’m not sure if I want to do value range pricing. Won’t most people just offer the bottom of the range? It doesn’t seem like a good idea.”
Answer:
I completely understand your hesitation. Even though value range pricing has been used for almost 20 years in San Diego County, it’s almost unheard of in other cities.
However, I can tell you it works.
Last week I met with a financial officer of a local corporation about selling his home and he expressed the same skepticism. I shared with him that Prudential’s study showed their value range homes sold just over the midpoint, on average.
So I decided to do a small sample statistical study of my own listings that sold using value range pricing.
The results are in…
My 15 most recent value ranges sold at the 62nd percentile of the range. For example, a home listed $500,000 to $550,000 would sell for $531,000 on average, OVER the $525,000 mid-point.
Putting it even more simply, value range pricing WORKS well for most homes.
More on pricing your San Diego home to get top dollar.
