A common occurrence in real estate sales is one in which the owners price their home for sale at a price higher than the appraiser valuation. Sometimes this is caused by a faulty CMA by the real estate agent, sometimes it is because the homeowners insist on a higher price against the real estate agent's suggested price.

• as the sales agent for a buyer in the case of a home with an accepted offer from the buyer by the seller for $450,000 and the appraised value is $398,500.