Question:
[From an agent (who should but doesn’t understand value range pricing) who brought an offer in the bottom half of the value range of a home I had listed]
“My clients and I spent hours trying to make a deal happen that isn’t possible. Why is there a range posted when your clients are not willing or able to accept an offer in the bottom half of that range?”
Answer:
That’s not how value range pricing works!
As a licensed agent in San Diego, you should know that value range pricing means the seller will “entertain offers between $X and $Y.”
In this context, “entertain” means consider and/or respond to. In no context does it ever mean the seller will “accept” any offer in the range.
If it did, then value range pricing wouldn’t make a lot of sense, would it?
Their only obligation is to accept an offer at the top of the range, though most sellers will negotiate and sell in the range.
