Myers  Jackson, America's Auctioneer (Auctioneer, Texas Flip N Move )

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Rainmaker
143,956
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

You don't determine the highest price, the market determines it. Not sure what you mean by placing a cap on what the seller could receive.

Mar 01, 2017 07:17 AM
Ambassador
3,940,704
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I don't, the market determines that

Mar 01, 2017 07:22 AM
Rainmaker
917,012
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The market determines the price by the comps I research.

There is no "cap" the market pays what the market is willing to pay. I sold a home in 2001 that went $350,000 over asking in Palo Alto. No cap!

Mar 01, 2017 10:03 AM
Rainmaker
1,580,041
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Why on Earth would you place a cap on the Sellers proceeds????

Mar 01, 2017 08:29 AM
Ambassador
1,624,781
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think a frutehr explanation or example would be helpful to come up with an answer.

Mar 01, 2017 08:09 AM
Rainmaker
2,774,036
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

The market determines the value by the price they are willing to pay. The cap is set by what a buyer is willing to pay.  In my market it is common for homes to sell for thousands over asking / list price.   Homes that are over priced sit on the market ... waiting for one price reduction after another.  

Mar 01, 2017 04:16 PM
Rainmaker
1,004,839
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Julie Larson Realtor® Sarasota FL 941-882-0322 hits it spot on. Nothing to add. Our market may not sell above asking but many do.

Mar 01, 2017 08:15 AM
Rainmaker
690,282
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

1. We can only estimate the max market value for a property based on recent sales, adjustments to same, etc. The market will make the final call.
2. We couldn't if we wanted to. What if there are multiple offers? What if the deal was retooled to include an improvement that wasn't originally conveying? Maybe an adjacent parcel? OR . . . what if the seller is contributing to the buyer's costs, and the purchase price was raised to include that?
We want the seller to net the highest possible number, of course.
What is your reason for asking this question? Maybe in a different context, the answer may vary.

Mar 01, 2017 08:10 AM
Rainmaker
3,020,089
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I do a cma and provide a range of value to my clients. Then we jointly determine what makes sense in current market conditions. What do you mean by a "cap?" Who am I to tell a seller they can't get more than "x?" We have no price police here in Charlotte! The market will determine, at the end of the day, what a seller will get for their "asset" and an appraiser will determine if that is fair value for the mortgage.

Mar 02, 2017 03:28 AM
Ambassador
4,116,003
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Why place a cap?  Do you stop the auction when you feel the bid is high enough or do you keep pushing to see what they buyers are willing to pay.

All that any of us can do is suggest a starting price.

Mar 01, 2017 06:39 PM
Rainmaker
552,418
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

You would do a market evaluation on the property. Then recommend listing at that price and generally the seller will want to list a little higher. I am not sure what you mean by cap, but I would never put a cap on the amount the  my seller can receive for the sale.  Their home is only going to sell for what the market can bear.

Mar 01, 2017 04:57 PM
Rainmaker
1,822,837
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I am not afraid to suggest Ranges of value and the DOM outcomes !

Mar 01, 2017 12:31 PM
Rainmaker
1,370,277
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Myers Jackson I can determine the highest possible market value based on comparable properties with appropriate adjustments that have recently sold. The highest possible market price is based on property demand in a specific market. My recommended list price is always based on the comparable data whereas the final price is based on the market.

Mar 01, 2017 10:49 AM
Rainmaker
1,221,227
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Homes sell above list all the time.  Sometimes well above it, even when priced right or even a little over where I'd think they should be.

Mar 01, 2017 10:36 AM
Rainmaker
991,141
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Market knowledge and current competition has a lot to do with it. Given that condition is not at issue and we've come to terms on price a cap is irrelevant.

Mar 01, 2017 10:03 AM
Ambassador
3,982,263
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

This is market driven and based on competition and quality of the subject property. I come up with a value range and talk it through with the seller. Many properties sell at or above list price.

Mar 01, 2017 09:02 AM
Rainmaker
1,518,373
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Why would you do that?  I looked to see what profession you are in & most people here are assuming you are in real estate.

You have to look for comparable properties & work for your client to get him top dollar. Go do that.

Mar 01, 2017 08:55 AM
Rainer
258,689
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Being in auctions, you have the perfect way to determine that!  However, even in listing properties, if the market determines the price is a great deal, then you'll get multiple offers, creating an auction type atmosphere.

Mar 01, 2017 08:43 AM
Rainmaker
4,361,423
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I agree with Jeff Dowler  and Julie Larson Realtor® Sarasota FL 941-882-0322 said.  Why would you set a cap on what the seller could receive?  A

Mar 01, 2017 08:02 AM
Rainmaker
4,914,246
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Ditto to what Julie Larson Realtor® Sarasota FL 941-882-0322 just said....

Mar 01, 2017 07:21 AM
Rainmaker
765,339
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Agree with Julie.

Mar 01, 2017 07:20 AM
Rainmaker
1,038,721
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

You evaluate the recent market sales and competition provide a range based on the information to the sellers. 

Feb 14, 2018 04:26 PM
Rainmaker
4,042,231
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Our market is crazy right now, and usually I set a fair market value and add some for those who will be bidding over this amount.

Mar 03, 2017 11:05 AM
Ambassador
1,613,568
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

do the best CMA as possible

Mar 03, 2017 05:27 AM
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

The buyers determine the price they will offer based on supply and demand . The lenders may not agree on the value sometimes.

Mar 03, 2017 05:13 AM
Rainmaker
560,620
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I agree with others; the market determines the price.

Mar 02, 2017 06:37 PM
Rainmaker
833,194
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

It's not up to me, I do the comps to tell the story - why would I cap the seller?

Mar 02, 2017 09:05 AM
Rainmaker
4,796,627
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would need a bit more information to answer this.

Mar 02, 2017 05:42 AM
Rainmaker
5,313,694
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The market will determine the price. No caps for sellers.

Mar 02, 2017 05:09 AM
Rainmaker
2,959,956
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I never place a cap on anything, in the end what a property is worth will be determined what a buyer is willing to pay for it. I use a set of comparable sales, let them know the homes high value, what to ask and what the possible selling price will be. 

Mar 02, 2017 04:59 AM
Rainmaker
3,050,725
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Jeff Dowler nailed this one!

Mar 02, 2017 04:30 AM
Rainmaker
1,483,071
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

More or less. The more houses you see and sell, the more you understand how to adjust the price comparing to comps in the area. 

Mar 01, 2017 11:55 PM
Ambassador
4,298,652
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Myers Jackson - why would one want to put a cap on what the seller could receive - just wondering...

Mar 01, 2017 11:35 PM
Ambassador
3,235,910
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

We don't make that determination - the market does!  Buyers often pay more than list price, whether the seller has priced it above or at their 'market value' opinion.

Mar 01, 2017 08:55 PM
Rainmaker
142,236
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

The market would determine the price.

Mar 01, 2017 08:50 PM
Ambassador
2,348,319
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 CMA for cookie-cutter houses in subdivisions with several recent sales.

Appraisal for hard to comp properties (or stubborn sellers).

Cap on what they can receive?  Not sure what you mean by that, Myers.  "Net Listings" are illegal in most states; I don't think that is what you meant.  Cap on list price, yes.

Mar 01, 2017 05:44 PM
Rainmaker
3,978,945
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Why would you put a cap on it?

Mar 01, 2017 05:18 PM
Ambassador
2,188,706
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Well I research comps and discuss the market with the seller so they can determine what they think is a fair price at which to list their home. I don't have any business placing a cap on what the seller can receive. 

Mar 01, 2017 04:09 PM
Ambassador
2,816,523
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

By a market comparison and what is trending it that area and type of home. There have been times when the market in the 'moment' is saying say 500K but I know market is trending up in price and buyer demand is strong. Multiple bids are a big possibility in these cases and who knows how high a buyer will go up in price to procure the home of their dreams.

Mar 01, 2017 03:38 PM
Rainmaker
1,157,274
FN LN
Toronto, ON

The market determines the price.

Mar 01, 2017 03:35 PM
Rainmaker
389,811
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

You suggest a price for your seller based on market analysis. The marketing strategy adopted is something your seller approves. Typically the asking price is what the market determines the property should sell for. Sometimes we take listings where sellers are "testing" the market above a known sales price - but this is not advised. Taking a listing below market value can result in multiple offers which drive the price up. We try to get the best possible price at the best possible terms for our sellers - but this is market driven.

Mar 01, 2017 12:50 PM
Rainmaker
291,517
Jack Lewitz
IL Real Estate Specialists - Evanston, IL

I do my homework and make sure I use the best sale comps for my seller . I discuss with my seller and advise what I think the house should list for and sell for but am not sur what you mean by cap ?

Mar 01, 2017 12:12 PM
Rainmaker
751,118
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Would you place a cap on what the seller could receive?

I don't have to. The buyer(s) or lender will.

What I must do is determine is this is a real seller. Inspired pricing does not translate to 'motivated seller.'

However, being able to determine the ceiling price for a community is possible.

Mar 01, 2017 11:48 AM
Rainmaker
730,175
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Our price is the best estimate, but there is no cap in at that moment the demand is particularly strong for that specific property.

Mar 01, 2017 10:59 AM
Rainmaker
2,436,785
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Supply & demand has the final say. Meanwhile, going out at at FMV or a tiny tad below brings instant responses and takes us where we have to go..$$$

Mar 01, 2017 09:40 AM
Ambassador
908,985
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Market will let you.

Mar 01, 2017 07:42 AM
Rainmaker
995,993
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I tell them I will charge X% listing commission based on my through analysis with adjustment and measurement of home.

Someone wants more than the market price I will charge Y% for additional marketing cost (Y>X). My valuation is top in the area. Last 3 years I did not have a single lender disagree with my analysis. 

Any sold price higher than appraised value is a result of staging, features and aggressive marketing. You want to hear what you think and not open to local expert input. Go get a license. 

Mar 01, 2017 07:34 AM