"Sellers will entertain offers between $_____ and $______"

Buyer - “I got in for $________ which was a great deal because they were asking for between $_______ and $________.”

Their low number is still the high end of what they want so they make it seem like it’s a good deal for you. Like invicta watches being 90 percent off when in reality it’s not worth anywhere near the “original price.” Pricing is all about perception and “sales” get ya sometimes.

YEP

I would like for you to make a suggestion. I own an undivided interest in an eighty acre parcel of property. I was recently approached by a representative of a foreign chemical corporation.It was at one time but no longer listed by a realty. He asked me to offer a price range. I told him that I was awaiting the results of a commercial appraisal, which is true. It is likely that I will be asked to meet with some of their executives before an appraisal could be completed. How would you proceed?

quote:

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He asked me to offer a price range.

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This is okay as a discussion for parties all on the same side of a transaction - frank discussion of the market realities, strengths/weaknesses of the asset in the market, unique challenges, expected range, etc.

However, I would never offer anything like a "range" unless the low number was my really high "starting position", because if it wasn't your opening bid, from which you intended to negotiate down, it is now.

I get that folks want to know what the reasonable range is, but it is not my job to protect the other side of an arm's length transaction from me - as long as my actions are legal, ethical (and as a bonus, moral), then I can start with an insanely high asking price and just not take an unethically or immorally high price (just discount it to my actual high valuation) upon reaching agreement.

I don't have to tell them what my minimum price is at the start and no rules of buying/selling say otherwise.

(ETA: As a practical matter - if your realtor says likely will sell for $Y and the appraisal will be from $X to $Z - take the HIGH estimate and add 10 to 15% - make that the low range and then add, say, 10% to that and make it the high range, but only do that if you feel really comfortable the appraisal will come in under both those numbers. Otherwise, hold them off until the appraisal for a real number.)

They are likely being advised to do this by their REA. Agents only care about selling quickly. An extra $5-10k makes very little difference for them.

I take your meaning. My uncle made some Servitude and ROW agreements with a few pipeline companies many years ago and did that for the family. I don't think that is applicable to us now because the undivided interest owners donated the properties to a Family Group LLC. That is our fractional interest was converted to shares.Thanks for your comment.

Seems like an easy call on what to offer, if their bottom number is reasonable.