Listings and Valuations: Unlocking Maximum Potential for Your Clients
Gain the essential skills and knowledge to maximize the potential of your property listings. With a focus on establishing accurate property values and negotiating the highest sale price, this comprehensive 7-hour course is designed to elevate your real estate expertise.
Through in-depth lessons and practical exercises, you'll delve into topics such as comparative market analysis, analyzing current market conditions that impact property value, negotiation techniques, guiding clients in responding to offers and understanding the listing agreement. Whether you're a seasoned professional or new to the industry, this course equips you with the tools to confidently discuss pricing strategies and provide exceptional service to your clients.
Don't miss this opportunity to stay ahead of the competition and enhance your real estate career. Enrol today and unlock the potential of your listings!
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.