Pricing Property Post License 2018 Broker in AL, FL & GA

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Presentation transcript:

Pricing Property Post License 2018 Broker in AL, FL & GA Alabama License Instructor New Vocation Realty School

Pricing Property Goal: Enable participants to identify steps in working with seller to understand current market conditions to price property correctly Objectives: Explain to seller current market conditions Demonstrate to seller the impact of pricing Create a CMA to assist seller in establishing price Explain CMA to seller

Pricing Property CMA and Pricing Property A. Analyzing market 1. Overview 2. Specific B. Dangers of overpricing C. Benefits of proper pricing D. Preparing a CMA E. Explaining a CMA

http://www.realtor.org/research-and- statistics/housing-statistics Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) NRA Housing Outlook http://www.realtor.org/research-and- statistics/housing-statistics

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Fannie Mae Outlook http://fanniemae.com/portal/research- insights/forecast.html

Case-Shiller video https://www.youtube.com/watch?v=KyU6uavjgiA Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Case-Shiller video https://www.youtube.com/watch?v=KyU6uavjgiA

Zillow research http://www.zillow.com/research/ Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Zillow research http://www.zillow.com/research/

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (local) Birmingham trend http://www.fortunebuilders.com/birmingham-real- estate-and-market-trends/

REALTOR ® Birmingham trend http://www.realtor.com/local/Birmingham_AL Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (local) REALTOR ® Birmingham trend http://www.realtor.com/local/Birmingham_AL

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (local) Trulia ® Birmingham trend https://www.zillow.com/birmingham-al/home- values/

Appraiser opinion of Birmingham http://birminghamappraisalblog.com/ Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (local) Appraiser opinion of Birmingham http://birminghamappraisalblog.com/

Birmingham MLS http://birminghamrealtors.com/ Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (local) Birmingham MLS http://birminghamrealtors.com/

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Cures to overpricing http://www.forbes.com/sites/taranelson/2011/12/1 3/5-overpricing-cures-that-can-get-your-home- sold/#2d7b10f536ec

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) More Dangers of overpricing http://www.realtor.com/advice/sell/overpricing- your-home/

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Why it may not sell http://www.realtor.com/advice/sell/why-home- wont-sell/

Funny overprice video https://www.youtube.com/watch?v=O9yynBFZ7VE Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Funny overprice video https://www.youtube.com/watch?v=O9yynBFZ7VE

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) Deal Breakers http://www.bankrate.com/finance/real-estate/deal- breakers-can-sink-home-sale-1.aspx

Pricing Property CMA and Pricing Property A Pricing Property CMA and Pricing Property A. Analyzing market Overview Start with big picture (national) First price is best http://www.realtor.com/advice/homes-first-price- best-price/

Pricing Property CMA and Pricing Property A. Analyzing market Benefit of proper price http://www.realtor.com/advice/sell/what-is-my- home-worth/

Pricing Property CMA and Pricing Property A. Analyzing market Market tells seller what it will pay http://www.realtor.com/videos/video-3-telltale- signs-you-should-lower-your-asking-price/c567b6b1- ed26-43b5-8aa5-912c42e4c925

Pricing Property CMA and Pricing Property A. Analyzing market Benefits of proper pricing https://dolanrealtors.com/selling/benefits-of- proper-pricing

Pricing Property CMA and Pricing Property A. Analyzing market I don’t know https://www.youtube.com/watch?v=6T5iBqPM4tE

Pricing Property CMA and Pricing Property A. Analyzing market Pricing is critical https://www.youtube.com/watch?v=jxziqnxVShc

Pricing Property CMA and Pricing Property A. Analyzing market CMA https://blog.udemy.com/comparative-market- analysis/

Pricing Property CMA and Pricing Property A. Analyzing market CMA elements https://www.youtube.com/watch?v=FfMGrzl_jqQ

Pricing Property CMA and Pricing Property A. Analyzing market CMA vs. online estimates https://www.youtube.com/watch?v=OGRJ0lBlIp4

Pricing Property CMA and Pricing Property A. Analyzing market Preparing market analysis http://finance.zacks.com/adjust-value-preparing- market-analysis-listing-home-11780.html

Pricing Property CMA and Pricing Property A. Analyzing market What to include in a CMA http://realestate.about.com/od/servingsellers/p/cm a_elements.htm

Pricing Property CMA and Pricing Property A. Analyzing market Presentation Tips https://www.thebalancesmb.com/real-estate-agent- preparation-for-a-listing-presentation-2867229

Pricing Property CMA and Pricing Property A. Analyzing market KW CMA 1 hour video https://www.youtube.com/watch?v=t3UF7LDtXWs

Pricing Property CMA and Pricing Property A. Analyzing market Pricing strategy https://www.youtube.com/watch?v=pPCwKGIJFnk

Pricing Property CMA and Pricing Property A. Analyzing market Use CMA to get business https://www.youtube.com/watch?v=k6tSMjHnEPs

Pricing Property CMA and Pricing Property A. Analyzing market Presenting a CMA https://www.youtube.com/watch?v=TfHwMXdpfO8

Pricing Property CMA and Pricing Property A. Analyzing market Personality profile - Expressive https://www.youtube.com/watch?v=Q8Z_3jUm-dU Personalty profile - Amiable https://www.youtube.com/watch?v=-tTkZVXxnFI Personality profile – Analytical https://www.youtube.com/watch?v=ewL1iGuHBA4 Personality profile - Driver https://www.youtube.com/watch?v=uvBc_aNoB1U

Pricing Property CMA and Pricing Property A. Analyzing market Listing Presentation Role Play https://www.youtube.com/watch?v=VJ4owPsgN1A

Pricing Property CMA and Pricing Property A. Analyzing market Sales comparison approach https://www.youtube.com/watch?v=cXWZTxPRawg

Pricing Property CMA and Pricing Property A. Analyzing market Preparing CMA https://www.youtube.com/watch?v=aFKcyHt3LMw

Pricing Property CMA and Pricing Property A. Analyzing market Setting seller expectations https://www.youtube.com/watch?v=RCxN2JuFMOc

Pricing Property CMA and Pricing Property A. Analyzing market Reviewing CMA with seller (Dos & Don’t) https://www.youtube.com/watch?v=mxMXh_XAJq8

Pricing Property CMA and Pricing Property A. Analyzing market Determining price for a seller - Emotions vs Comps https://www.youtube.com/watch?v=WYTG4QPytLE

Pricing Property CMA and Pricing Property A. Analyzing market Unreasonable seller https://www.youtube.com/watch?v=fQFQuOuS_sE

Pricing Property CMA and Pricing Property A. Analyzing market Create a CMA Gather information on your subject property Condo 2 bedroom, 1 bath 868 sq. ft. year built Upgrades - condition Southside 35205 Pull comparable sold properties 1 year Determine sq. ft. values Plot on graph

Another example Create a CMA Gather information on your subject property Condo 2 bedroom, 1 bath 864 sq. ft. year built Upgrades - condition Alabaster 35007 Pull comparable sold properties 1 year Determine sq. ft. values Plot on graph

Pricing Property CMA and Pricing Property A. Analyzing market Did we meet our objectives? Objectives: Explain to seller current market conditions Demonstrate to seller the impact of pricing Create a CMA to assist seller in establishing price Explain CMA to seller