Carlton Lund was skeptical when he first heard about a real estate marketing technique in which agents list a price range rather than a fixed price for a property. About a decade ago, Lund, an agent for a Prudential California Realty office in the San Diego area, attended a presentation about listing properties with a price range. The practice had already caught on in Australia. The U.S. real estate market at that time was "very lethargic," Lund said. "I think there are some similarities today to the market a decade ago." He recalled, "Initially, I was apprehensive of the concept. As slow as the market was, I decided to test it." A seller agreed to use a price range on a condo unit that was on the market for 93 days, and an offer came in within 48 hours. "That was like an epiphany for me,...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.