Friday, August 16th, 2019
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