The owner sets the listing price.

The market sets the sales price.

There is a process in determing the sale price for any property. First I look at all the Pending and Sold properties that compare with your property and I also look at what is your competition. Then I sit down and talk about what your goals are for selling the property and what your time frame is. Then we as a team decide on the appropriate price for selling your time frame given all of these factors, so that you can be successful.

The market sets the value (price you can get) But the seller will set the list price and this is highly dependant upon the motivation and timing. Remember the market changes, as we have seen a fair price today may be too high tomorrow or as was the case a few years ago, in 6 months the property overpriced by 5% became a bargain when the market over took it.

Hello, In todays market the answer to your question is truly the property. What the property has to offer as well as the location ..has a lot to do with the price. AMarket analysis does help mwith the price but in all honesty we as real estate professionals can direct the home owner in a price but the homes owner has the final say in what they need to get from the sale. Feel free to contact me if you are looking to list your property, I am local. Have a great day!!

The free market sets the price. The important thing for home Seller's to understand is that it truly doesn't matter what they have in their home...what matters is what potential Buyers are willing to pay based on what they see in the similar homes they've looked at. In order for Seller's to determine where to set the price of their home in the first place, they can have a qualified real estate professional do a CMA (comparative market analysis) to show them what similar homes have sold for in the recent past. This gives Sellers an idea where their home should be priced. According to the National Association of Realtors, if Seller's don't have at least 8 showings and/or an Offer in the first two weeks after a home is put of the market, then their home is over-priced. Therefore, the free market sets the price in the end.

WIth my listings, I do a CMA (Comparable Market Ananlysis) for the Seller and give them a suggested list price but it is up to the Seller to set the price. A lot depends on the Seller's motivaiton to sell. The sale price is actually set by the Buyer and Seller coming to terms through negotiation of the contract. Also the Appraiser ends up in the picture because if the house does not appraise high enough, the buyer will not be able to get their loan.

The hardest thing that I have to tell sellers in today's market is that the price is always set by what any buyer is willing to pay in today's current enviornment.

The buyers who are in the market and looking to purchase are the ones who set the price.

Tom,

The Market sets the price