Pricing Illustrator, Word
7300 Metro Boulevard, Suite 120
Minneapolis, Minnesota 55439
952-835-4477
• www.davidknox.com
Get the Listing...Priced Right Time Allotments
Course Objectives
Section
/Time
/Technique
/The student will be able to:
A. Role of an agent
/(0:40)
/Lecture, involvement
/To explain to a seller the importance of selecting a real estate agent based upon a marketing plan, not listing price.
B. Establishing value
/(0:30)
/Lecture, involvement, graphic illustrations
/Prepare a CMA that fully supports and documents the proper price range, weight value criteria by relative importance, define relationships between cost, price, value and market value. To explain regression, progression, substitution and contribution.
C. External Influences
/(0:30)
/Lecture, involvement, mathematical illustrations.
/Illustrate and explain how supply, demand, interest rates, qualifying ratios and financing requirements effect buyer affordability and housing values.
D. Advantages of proper pricing
/(0:20)
/Lecture, involvement, modeling
/Identify price as the key deterrent to sale, understand the reasons for overpricing and benefits to the owner of pricing within the market.
E. Effects of overpricing
/(1:00)
/Lecture, involvement, charts, diagrams, illustrations, instructor modeling
/Address all the common situations in which an owner attempts to overprice a property. Use charts, diagrams and illustrations to clearly demonstrate the major points.
Section A: The Role of a Real Estate Agent (:40)
A1. Steps of the Listing Process
A2. How Will You Select a Real Estate Agent?
A3. Avoid This Common Mistake
A4. The Role of a Real Estate Agent in Pricing
A5. Who Controls What?
A6. The Pricing Storybook
Section B: Establishing Value (:30)
B1. Principles of Evaluation
B2. Principle of Substitution
B3. Value of Improvements
B4. Regression and Progression
B5. Criteria that Determine Value
B6. How Buyers Determine Value
B7. The Market Determines Value CMA
B8. Opinions of Value
B9. The CMA Field Trip
Section C: External Influences (:30)
C1. Buyer’s Market vs. Seller’s Market
C2. Absorption Rate
C3. What is the Market Trend?
C4. Pricing Strategies for a Changing Market
C5. Buyer’s Financial Requirements
C6. Buying Up in a Down Market
C7. Summary of influences
Section D: Advantages of Proper Pricing (:20)
D1. The benefits of moving must outweigh their desire to overprice
D2. Factors Required for a Marketable Listing
D3. The Best Offers are the First Offers
D4. Pinball Listing
D5. Considerations of a Relocation Offer
D6. Search Bracket Pricing
Section E: Effects of Overpricing (:60)
E1. “But we need the money.”
E2. “They can always make an offer.”
E3. Search Homes to Show by Price Range
E4. “We can always come down.” (Normal Market)
E5. “We can always come down.” (Declining Market)
E6. “Couldn’t we just try it for a couple of weeks?”
E7. Activity on a Listing
E8. Price It Right the First Time
E9. “We're moving to a higher priced area.”
E10. “We’ve had a higher appraisal.”
E11. “We want to test the market.”
E12. Ongoing Seller Communication
David Knox Productions, Inc. Get the Listing... Priced Right Page 1