Prudential Value Range Marketing (PVRM) is a proven strategy for pricing and marketing that benefits everyone involved in real estate transactions- both buyers and sellers alike.
Sellers benefit by offering their property to a wider range of buyers providing a greater opportunity for the hghest market price. Buyers are attracted by the perceived opportunity for a deal.
With PVRM, a property is marketed within a selected price range rather than at a fixed price, exposing the property to more buyers in more price ranges. This simple change creates an entirely new buying and selling environment-easing many of the obstacles and anxieties of the traditional fixed pricing method.
Choosing The Optimal Value Range
Choosing the optimal pricing range is crucial to buyer and seller satisfaction. The optimal value range is one that encompasses fair market pricing - as determined by a comparative market analysis provided by your real estate sales professional and will have a top value at or above its trate "fixed price" value - providing the seller with the opportunity to achieve a premium price for their property.
The low end of the range might represent a price that attracts value-conscious buyers and ensures the property remains competitve int he marketplace.
How Does PVRM Benefit Sellers?
When selling your property, consider these key benefits:
Increased marketing exposure for your property
Eliminates the need for price reductions
Accelerates the sales process by encouraging more offers
Optimizes final sales price allowing true market forces to determine maximum price
Atrracts more buyers
Seller's Most Frequently Asked Question
Won't buyers just make offers at the lowest price in the range?
Yes and that's okay. Marketing a property for sale in a selected price range indicates to buyers that negotiations may begin at any price within the advertised range. Most buyers know how much they can afford to spend when looking for a property and typically search for properties within a "range of affordability". In addition, most astute buyers are keenly aware of the approximate market value of a property prior to submitting an ofer and understand that their initial offer very often is the beginning of the negotiation process.
How does PVRM Benefit Buyers?
When buying your property, consider these key benefits:
Brings buyers and sellers together in the least amount of time
Introduces a large selection of properties to view
Eliminated intimidation by a fixed price tag
Allows searching within affordable price ranges
Allows the neogtiation process to be more comfortable
Buyer's Most Frequently Asked Questions
Doesn't the seller have to accept any offer within the range?
No, the seller is under no more obligation to accept an offer under PVRM than they are in a fixed price listing. With PVRM, the seller promises to respond in writing to all offers withing the range, thus paving the way for further negotiations.
How will I know if I got a good deal on the property?
PVRM does not eliminate the need to do market research. It is a marketing tool. You will know if you got a good deal on the property by reviewing the market research that I will provide you.
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