SW Missouri Real Estate News


Who Really Sets The Price On A Home For Sale Anyway? Springfield MO Real Estate

Who Really Sets The Price On A Home For Sale In Springfield MO?

Your first impulse may be to say the OWNER of the home sets the price. This is true, the owner has the final say on whether or not to accept an offer - if they get an offer that is.

Does the BUYER set the price? A home will only sell for what someone is willing to pay for it so buyers do have a lot of input. 

How about the REALTOR®? An experienced agent can do detailed analysis Springfield MOto see what the home should sell for and make skilled recommendations. That's part of their job.

What about the APPRAISER? If a house sells for more than it appraises for, you've got trouble. You may be able to get a second appraisal or you may have to come up with the difference or abandon the deal.

How about the MARKET? Yes that's it! It doesn't matter what your friends and neighbors think, it doesn't matter what you owe on it, and it doesn't even matter what you paid for the house.

A home's value is determined by what the market will bear under current conditions including interest rates, the home's condition, neighborhood or location, and supply of comparable homes on the market. The selling price of Springfield MO Homes is also strongly affected by what other homes are selling for including short sales, foreclosures, and resales. Let's get together and discuss what your home is worth!

About The Authors:  Betty Knowles is a full-time REALTOR® with Coldwell Banker Vanguard REALTORS® in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®.  She also served as President of Women’s Council Of REALTORS® in Southwest Missouri.  Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.  

John Knowles is likewise a full-time REALTOR® with Coldwell Banker Vanguard and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.

Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses!  They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!

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Comment balloon 3 commentsBetty Knowles • October 13 2010 06:54PM


But who determines the market?  The buyer!

Posted by Denise Pudim (Kear Realty, Inc.) about 8 years ago

Good articles for homeowners to read.

Posted by Kevin Wood,, Tucson, AZ Realtor (Keller Williams Southern Arizona) about 8 years ago

I agree. The market determines the eventual selling price of a property. If there are no showings, THE MARKET HAS REJECTED THE PRICE! Thanks for sharing.

Posted by Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell (Front Gate Real Estate) about 8 years ago