Who Controls Price?

What is Market Value?


It is often believed that REALTORS® have a say in determining the housing prices.   The truth is, REALTORS® have no control over  housing prices.  What determines the price of any property is a process called:  Current Market Value

Current Market Value is determined based on what the Buyer is willing to pay for the property at any given time.  In other words, Supply and Demand, which is based on the general health of the economy and the local user market.

One of the responsibilities of the listing REALTOR® is to stay current with the local market  and price their  client’s home accordingly.  Current Market Value is also recognized at all financial institutions and is used to determine how much money they will lend.

 

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Carrie Wood
Business Development & REALTOR®
Edmonton’s Buyer Agent 

KENNEDY Real Estate
Your Edmonton Realtor® | Edmonton Home Stager

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This entry was posted on Friday, January 6th, 2012 at 3:48 am and is filed under Seller Resources. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.