Archive for the ‘VRM’ Category

h1

VRM Doesn’t Work in a Buyer’s Market

November 27, 2007

I’m amazed at the amount of VRM, or Value Range Marketing, listings I continue to see in our area despite the indisputable buyer’s market we are currently in. VRM is where a listing agent sets a “value range” for the price of the listing. My favorite is something like this…”Seller will entertain offers between $420,000 and $460,000″. Usually this is a listing that has been on the market for about 180 (or more) days and started off way back when at around $500,000. The truth is the sellers will “entertain” a warm body showing some interest in their OPT (Over-Priced Turkey). Unless you have buyers fist fighting each other and walking over fallen bodies to get their offers in first (remember those days???) VRM simply says “we want SOME KIND OF OFFER and it would be really great if it was AT LEAST $420,000….pretty, pretty please.” Read the rest of this entry ?

Advertisements