VRM is a marketing tool---- The property is listed at single price and the seller gives permission to advertise that they are open to negotiations within a set range.
Following are ESSENTIAL, KEY concepts to this strategy.
VRM is simply another means to get a buyer and seller to open dialog, to bridge a gap between expectations and possibly to allow another means of exposure to a property that would not have otherwise been considered by a buyer.
Following are ESSENTIAL, KEY concepts to this strategy.
- A CMA (comparative market analysis) is done to determine and recommend to the seller, an ?approximate? value for a property. (No difference than ?single priced? offering.)
- If seller agrees to allow VRM to be used as a marketing tool, the property is placed in an appropriate range for marketing and advertising. The seller, selects a range from a pre-determined set of price ranges. (Our research has shown that pre-determined price ranges are more effective.)
- A listing contract is completed and there is only ONE list price filled in the blank of the listing agreement---(No difference than ?single priced? offering.) The list price is the high end range number. (i.e. if the marketing range is $599,000 - $698.876. then $698.876 goes in the blank.)
VRM is simply another means to get a buyer and seller to open dialog, to bridge a gap between expectations and possibly to allow another means of exposure to a property that would not have otherwise been considered by a buyer.