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What is VRM 29 - a real estate term?

Updated: 9/14/2023
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Budwhitebuilders

Lvl 1
15y ago

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It actually stands for Value Range Marketing and the 'step' is #29. A new real estate selling technique has established levels or ranges by which a house is offered for sale. #29 is in a range of $209,900 to $239,900. If you see several properties listed for VRM #29 they are all offered at the range noted above. Sellers are willing to entertain offers between those two numbers. In a hot market, there may be competitive bidding which would push the offers to the higher range. If the market is slow, buyers would offer in the lower range. The lower number is generally presented as the lowest that a seller is willing to go.

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