Pricing in a Competitive Market

Description

4 CE

This 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 also to not disappoint property owners. 

Objectives: After taking this class students will be able to: 

• Define pricing, valuation, appraisals and CMA. 

• Define the three methods, or approaches, to value. 

• How Florida Statute 475.612 relates to valuation reports 

• Identify the challenges for pricing properties. 

• Know how to read a market. 

• Estimate supply and demand. 

• Calculate and apply the absorption rate. 

• Understand that the ‘market’ is actually comprised of several markets in a geographical area. 

• Understand why some price ranges will always be performing better than others. 

• Evaluate the market to value the property. 

• How “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

No-Show Policy:
We understand that unforeseen circumstances may arise, making it difficult to attend scheduled classes. If you are unable to attend a class, kindly notify us 48 hours in advance. Cancellation notices should be sent to Alisha Kissee Garcia (alisha@ralsc.org) and/or Shannon Diehl (shannon@ralsc.org).Participants who do not attend a class or event without providing prior notice will not be eligible for a refund. In cases of exceptional circumstances, such as a medical emergency or unforeseen personal crisis, we may consider refund requests on a case-by-case basis.

As an Association committed to providing high-quality learning experiences, we have implemented this No-Show Policy to uphold the standards of our educational programs and ensure all members who are looking to attend a course get an opportunity to do so.