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LivingWithTheInlaws

Price Range?

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Our local paper's property section is out today. One of the EAs has list all the properties as "Price range" and given an upper and a lower price. Has anyone seen this tactic before? Why would they do this? Surely the lower price applies (and in these cases the lower price is a reduction and the higher price is the original price). Is it to reduce the price but keep the vendors happy?

Next to the add the same EA has "Confused about HIPS?". "No", I thought, "I'm confused about your prices."

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Guest muttley

It looks like a tactic to put off vendors putting in an offer below the lower end price. Rather than reduce a property from 200k to 180k, and getting offers at 10% below that, you advertise it as having a price range of 180-200k. They are, in effect, telling you the lowest offer that the seller is prepared to take.

In this example I would be tempted to tell them that your offer is "120-140k"

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