The National Asset Management Agency (NAMA) should have the responsibility of establishing a base price for property in Ireland.
The bad bank should be made to make a call on pricing in order to help the economy recover according to a former CEO of Bank of Ireland.
Speaking to Newstalk radio, Mike Soden also said new personal insolvency rules are likely to run into difficulty.
This is because banks, some of which are private and others public, will be asked to follow the same rules.
They are due to come into law later in the year.
Mr Soden says NAMA should act to invigorate the market by helping people in debt.