When a property is listed for sale through the Multiple Listing System (MLS), the terms of sale are contained in an Exclusive Right to Sell Agreement, such as the one exhibited here. The important terms include the duration of the contract (three to six months is a normal range), the price and financing terms at which the home is being offered, rights of parties to terminate the contract, seller and agent responsibilities, broker compensation, agency representation, and a few legal issues. The specifics of the contract are entirely negotiable between the parties, all of whom are seated on the same side of the table with the same goals in mind. In my view, the listing price is actually in the hands of the seller(s) because it is their home and their potential equity at stake. By the same token, it is equally important for sellers (when contemplating list price) to carefully consider my research into the recent sale prices of comparable homes in the immediate vicinity of the subject property and the current competition exerted by similar active listings. My job is to relay to sellers my best estimate of value, defined as the price that a knowledgeable, well educated buyer might be willing to pay for your home, The list price can then be derived from this assessment, and changes to pricing in the future, if any, can then be measured against agent and client feedback as showings occur.