Th
is course covers how an agent can learn to price properties in a competitive or changing
market. The students are introduced to the concepts of appraisal versus a CMA, and the
general descriptions of each, as well as the legal
obligations that an agent has in Florida
with respect to a CMA
—
when it can be done, what disclaimers apply, etc. With close to
60% of all agents, nationwide, having tenure of less than 5 years in the real estate
business, many of them have not experienced
what some call a ‘down’ market, and others
call a ‘normal’ market.
Students will learn how to read supply and demand in a market, calculate absorption rate and critically evaluate
what comparable data is still germane. The goal is to learn how to price property properly, to avoid carrying
listings for a long time, and als
o to not disappoint property owners.
Objectives
: After taking this class students will be able to:
•
Define
pricing, valuation, appraisals and CMA
.
•
D
efine the three methods, or
approaches, to value
.
•
H
ow Florida Statute 475.612 relates to valuation reports
•
I
dentify the challenges for pricing properties
.
•
K
now how to read a market
.
•
E
stimate supply and demand
.
•
C
alculate and apply the absorption rate
.
•
U
nderstand that the ‘market’ is actually comprised of several markets in a geographical area
.
•
U
nderstand why some price ranges will always be performing better than others
.
•
E
valuate the market to value the property
.
•
H
ow “Day’s on Market” Can
Affect
Pricing and protect the Consumer by adhering to Article 1 of the
Realtor® Code of Ethics
. Instructor: Caroline Boland