This course will cover the principles of pricing properties. Topics covered include approaches to
property pricing and how to identify positive and negative factors affecting property price. We'll
learn how to use appraisers' tools to determine the nature of the market and use appraisers'
techniques to value real estate. We'll also learn how to speak the appraisers' language and
recognize the significance of certain property characteristics and market conditions when it
comes to pricing properties.
Upon completion of this course, students will be able to:
Table of Contents
- Describe the types of factors which affect property pricing and value.
- Identify the three common methods for pricing properties.
- Describe the appraisal process.
- Identify the role of appraisals and brokers in property pricing.
- Identify sources of information for a CMA and how a CMA is used in pricing property.
- Describe the factors considered in preparing a CMA.
- Competitively price properties based on a variety of factors.
- Application of the three approaches to value.
- Determine supply and demand adjustment value.
- Identify dangers of over-pricing and overcome seller objections related to property pricing.
- Properly counsel sellers regarding price.
Overview and Learning Objectives
Unit 1: Pricing Principles
Segment 1: Property Valuation
Segment 2: Pricing Strategies
Unit 2: Appraisals
Unit 3: Preparing a CMA
Unit 4: Advanced Pricing Exercises
The course contains numerous exercises requiring brief written responses and a final multiple choice exam.