Listing price is not issue on anything regarding a contract price. You may have a listing price ot $10,000,000 and accept a contract at $1,000. Its up to the seller. So, other than a marketing device, listing price has nothing to do with selling price.
Realtor may or may not suggest a listing price that might have some impact on how fast the list sells. At the end of the day, some bank will get an appraisal of the property which will have huge effects on what the property sells for.
While we might agree that an Appraisal should not have such huge effects on a faiir market transaction between two people, in fact it does.
2. You accept the offer that is less than listed price.
3. The offer does not go through and the property is back on the market.
4. At that point, the Realtor would probably ask you or suggest to you that you drop the listed price...since you were willing to take less.
5. Or you as the Seller could tell the Realtor that you wanted to drop the listed price.
6. A property is only worth what one Buyer in the present market is willing to pay. Pricing in a nutshell:
the property has to be priced so that Buyers come & look & make an offer. If Buyers are coming & looking but not making an offer...you are helping sell someone else's property.
I hope this is helpful. If you have other questions feel free to contact me or visit my website.
Ann Fisher, ABR, CRS, GRI
Ann Fisher Realty, Inc.