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One of the sayings from the "gold-rush" days--"Them that's got the gold, sets the price!"--is also a principle that applies to real estate. We say that a house is only worth what someone will pay for it, even though the owner, the bank, and the agent all have their own opinions about the "market value" of a home. In other words, no sale ever takes place until the buyer agrees with the price.

How can sellers arrive at the maximum "fair" price that buyers are willing to pay? Buyers (and appraisers) make their decision based on comparisons. While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price. They decide which house offers them the maximum value for the price. Buyers do not expect a home to be a "steal" or dramatically under-priced, but they do expect it to be a fair value.

Sellers must determine the value that their home offers in order to arrive at the right price. The real estate agent will advise the sellers what buyers should be willing to pay for their home, but the asking price is set by the seller.

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Gores Real Estate Team
Edina Realty
14198 Commerce Ave NE
Prior Lake, MN 55372
612-201-5447
Fax: 952-447-4735
MarkGores@EdinaRealty.com

Mary Gores was licensed in 1982 and since 1986 has been associated with Edina Realty, one of the nation's premier real estate companies. She is a consistent top performer and has been awarded membership in the Leadership, President's and Master's Circles of excellence. She has many times been named a Super Star Agent by Mpls/St. Paul magazine. She holds the GRI, CRS, 55+ and ePro designations. Mark Gores joined in the business following his graduation from the University of Iowa in 2004. Mark's high energy, technology background, sales skills and creative entrepreneurial spirit quickly earned him the respect of his clients. His Young Voices column in the local newspaper provides an additional outlet for his sense of humor and has attracted community-wide attention. Mark also has been named a Super Star Agent and holds the ABR and ePro designations.

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