The Art of Property Pricing: Simple Steps to CMA Success

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 28 May 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pricing is one of the most important skills you need to be a successful and effective real estate professional. With more inventory and fewer motivated buyers in the market, mispricing a home can cause your listing to expire, cause you to be fired, or make your buyer miss out by offering the wrong price. Whether you’re pricing a listing or advising a buyer what to offer on their dream home, it’s time to sharpen those skills. Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206. IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com Note: Don’t assume everything in your market has the same pricing trends! Pricing is a case-by-case analysis and strategy. For Example, one zip code may have longer days on the market, more competition, and new construction to compete with. The next one you either list or write a buyer contract for may be the only home on the market with the potential for multiple offers. HUGE Announcement: You will love this! Looking for the full outline from today's presentation? Our DAILY Newsletter featured lead generation systems, real estate scripts, daily success plans and (YES) the notes or today's show. Best part? The newsletter is free! https://harrisrealestatedaily.com/

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:10.2	This is the number one daily radio show for realtors looking for a no BS authentic real-time coaching experience.
0:18.2	What's really working in today's market, how to generate more leads,
0:21.8	make more money, and have more time for what you love in your life. And now your host, Tim and
0:28.3	Julie Harris. Welcome back. Today's podcast is a result of a lot of folks asking for help
0:35.8	how to do a CMA which frankly should be
0:38.6	something all of us learn when we get our real estate licenses but I know that is not
0:42.6	the case and a lot of folks have been spoiled by a market where frankly pricing
0:46.5	real estate has been super easy and a proliferation of a lot of done for you CMA
0:51.1	widgets and apps and all the rest of it but I'm here to tell you that there's an art to pricing properties correctly and it gives you
0:57.4	an unfair advantage in the marketplace, especially when dealing with a very analytical seller.
1:03.0	So today's podcast is the art of property pricing simple steps to CMA success.
1:08.4	Yes, that's right.
1:09.0	And we're going to look at it from mostly the listing end of things, because that's when
1:12.6	you have to do a comparable market analysis.
1:14.6	But also, everything that we talk about from the listing standpoint applies to you on the
1:19.6	buyer side when preparing and coaching your buyer side clients.
1:23.6	What really should they offer in terms of price?
1:25.6	You know what, Julie, that is such a good point because, again, agents have never learned how to do proper CMAs and in a marketplace where agents are going to have to start proving their value to prospective buyers, like sellers or listing agents have had to do forever, knowing how to do a CMA as equally as important as it is when listing or competing for a listing as it is when competing for a buyer.
1:43.8	That's exactly right. Pricing is one of the most important skills that you need to be a successful
1:48.6	and effective real estate professional. With more inventory and fewer motivated buyers in the market,
1:53.9	mispricing a home can cause your listing to expire, cause you to be fired, or make your buyer
	...

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