real estate professionals improve their skills in pricing residential
properties
About this Event
MODULE 1:
CMA BUILDING BLOCKS
The CMA—Process and Presentation
Valuation Services Matrix
What Does a CMA Analyze?
CMAs For Sellers, Buyers, Real Estate Professionals
Cost, Price, or Value?
CMA Building Blocks
Pricing and the REALTOR® Code of Ethics
Gaining CMA Competency
Exercise: What Would You Do?
MODULE 2:
GETTING STARTED—SELECTING COMPARABLES
Choosing Comparables
Fannie Mae Guidelines
First Step—Identify Subject Characteristics
Location Guidelines
Date of Sale Guidelines
Size Guidelines
More Selection Criteria
Other Issues
Comparables—How Many?
Sources for Comparables.
Realtors Property Resource®
Comparable Roadblocks
Comparable Property Evaluation Checklist
Exercise: Selecting Comparables
MODULE 3:
COMBINING FACTS AND NUMBERS
Methods for Adjusting Comparables
Paired Sales Analysis
Making the Adjustments
Principles of Market Expectation and Substitution
Date of Sale and Time Adjustments
Specific Considerations in Determining Adjustments
Adjustment Pitfalls
Exercise: Adjusting Comparables, Figuring a Price Range
MODULE 4:
PREPARING THE CMA
Assembling the CMA Report
What the CMA Report Contains
Disclaimers
Preparing to Lead the Discussion
Understanding the Market
Buyer’s or Seller’s Market?
Exercise: Using Absorption Rate to Advise Clients
Retaining CMAs for Future Reference
Listening to the Market
Developing an Expert Network
Industry News Resources
MODULE 5:
PRESENTING THE CMA
Guiding Sellers and Buyers through the CMA
From Price Range to Listing or Offer Price
Educating Sellers and Buyers
Revisiting Price
Legal and Ethical Requirements
Exercise: What Would You Say?
Discussion: Your Challenges in Pricing Discussions
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MODULE 6:
WORKING WITH APPRAISERS
The Appraiser’s Role and Responsibilities
Steps in Working with the Appraiser
How to Read an Appraisal Report
When a Property Appraises Below Offer Price
The Long Life of FHA Appraisals
Requesting An Appraisal Reconsideration
How to Address A Low Appraisal and Tips for
Agents and Appraisers
Wrap Up
Event Venue & Nearby Stays
9522 Brookline Ave, 9522 Brookline Avenue, Baton Rouge, United States
