How can you accurately price a home that is unique in your marketplace?
With price being one of the most significant draws for buyers, pricing a home accurately for a quick sale and highest price is arguably the most critical duty of an agent.
With many possible comparables, coupled with countless variations in amenities and location, it can be difficult, sometimes seemingly impossible to price a home that is unique in the marketplace. This course not only takes you through the fundamental and advanced techniques, but provides examples such as pricing geodesic dome, earth berm homes, and even a real-life example of pricing a home that that was sided with hub caps.
At the end of this course you will be able to answer the following questions:
- What affect does an inaccurate price of a home have on my performance ratings such as time on the market and price to sell ratio?
- What constitutes an “oddball”?
- What is a “Typical purchaser” and what are the “typical purchaser expectations”?
- What are the two things you must know to price any property correctly?
- How do you decide which approach(es) to value apply to the property, and how to apply them?
- What are the differences and similarities of pricing oddballs compared to "traditional" real estate?
- How can you apply this information to price and sell more listings—of oddballs and regular properties?
By understanding market value, general appraisal techniques, and consumer expectations, you will be able to price homes accurately with considerations of time on the market, and highest value.
Melanie McLane is a second generation REALTOR® and is an active broker and appraiser in North Central Pennsylvania. A graduate of Kenyon College, she holds the following real estate designations: ABR®, CDEI, CRB, CRS, e-Pro®, GRI, GREEN, RAA, RSPS, SRES®, SRS.
Melanie was named Penn State University’s 1989 Real Estate Instructor of the Year, and was inducted into the REBAC (Real Estate Buyer Agency Council) Hall of Fame in 2008 as a Real Estate Instructor, and was named the RSPS (Resort and Second Property Specialist) of the Year in 2012. She is an AQB (Appraisal Qualifications Board) Certified USPAP (Uniform Standards of Professional Appraisal Practice) instructor. She has authored many courses, articles and books about real estate.
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You will have access to your course for 12 months from the date of purchase. After one year, the course will expire. No extensions will be given after the course expires; if you do not complete the course during the 12-month timeframe, you will need to repurchase it at full price and start again at the beginning.
Continuing Education Information
Not available for this course