The title says it all, this course covers the critical topics for representing a seller
If you're looking to make the most of your listings, this course is a must. You'll learn everything you need to know about establishing property value and negotiating the highest sale price possible. By the end of it, you'll be armed with the knowledge to discuss pricing strategies with clients and negotiate the highest sale price possible.
We'll cover topics like comparative market analysis, current market conditions affecting value, negotiation standards, advising clients to respond to offers, and the listing agreement. Whether you're a seasoned pro or just getting started in real estate, this course is a must-take for anyone serious about giving their clients the best possible service. So sign up today and get ahead of the competition!
Upon completion of this section, the student should be able to:
Comparative Market Analysis - An Introduction
A residential real estate licensee typically uses only the sales comparison approach when valuing properties for a Comparative Market Analysis (CMA). However, the licensee uses data from properties that are sold, sale pending, expired and currently on the market and compares this data to the subject property to derive a value. As with the appraiser, similar properties are compared to the site property and additions and subtractions in value are made to the comparable properties to account for different features.
Case Study CMA versus an Appraisal
Harlen, a real estate licensee meets the Smiths at a party. Upon finding out that Harlen is a real estate licensee, the Smiths ask him to do an appraisal on their home so they can refinance. Harlen responds by referring the Smiths to a certified appraiser to value the home.
While Harlen can perform a Market Analysis on their home and estimate the sales price, he cannot perform an appraisal (which is a more detailed opinion of value and can only be performed by a licensed appraiser). He made the correct choice in this situation since he is not qualified to perform an appraisal, nor would it be acceptable to a bank.