Pricing In A Competitive Market (4CE)

Description

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

CANCELATION POLICY
A 48-HOUR written notice is needed to receive a refund of monies paid. A $15 cancelation fee and no refund for no-shows and short notice cancelations will be assessed.

ATTENDANCE POLICY

• FREC requires a licensee to attend 90% of each of the classroom hours. Physical attendance is required for the duration of class.
• Please allow adequate commute time. This policy is strictly enforced.
• You are required to sign-in/sign-out to be recorded as having attended and to earn CE credit.
• No exceptions will be made.
  

CLASSROOM ETIQUETTE 

• ALL MATERIALS ARE COPYRIGHTED AND MAY NOT BE REPRODUCED IN ANY WAY. VIOLATORS WILL HAVE TO LEAVE CLASS AND WILL NOT RECEIVE CREDIT OR A REFUND.
• Electronic notetaking is permitted on silent devices ONLY.
• Cell phone use is permitted ONLY outside of classroom during designated breaks. Please be sure your cell phone is silenced and put away.