Thursday, April 20th, 2018
At the conclusion of this course, students will be able to
• Select appropriate comparables and make accurate adjustments to them, for use in developing home price opinions
• Guide sellers and buyers through the details of CMAs and the underlying pricing principles that inform them
• Interact effectively with appraisers
Module 1: Principles of Pricing
• Identify the purpose and benefits of CMAs
• Define key terms related to pricing
• Interpret Article 11 of the REALTOR® Code of Ethics as it relates to pricing properties
Module 2: Choosing Appropriate Comparables
• Recognize appropriate criteria, resources, and guidance in choosing comparables
• Identify causes of imperfect information and its consequences with for pricing properties
• Use appropriate comparables in a CMA
Module 3: Preparing the CMA
• Explain key principles of pricing that impact CMAs
• Recognize correct guidance, as well as common challenges and errors, in adjusting comparables
• Adjust comparables, using values developed from appropriate averages and cost data
Module 4: Presenting the CMA
• Discuss CMA documents and pricing conclusions with clients.
• Address client concerns about pricing.
• Explain value principles to clients.
Module 5: Working with Appraisers
• Recognize the purpose of appraisals and the scope of the appraiser's role.
• Describe how real estate agents can work constructively with appraisers.
• Assess an appraisal and proceed appropriately when you think it contains inaccuracies.
Module 6: Honing Your Pricing Habits
• Recognize strategies and tactics for keeping up to date on your markets
• Recognize common client misconceptions about price
• Employ best practices for pricing properties in your daily work