This course is designed to blend the science and art of preparing a CMA from active and sold data, as well as provide information used in an appraisal from a licensed/certified appraiser.

“Price it Right-CMA & Appraisal Techniques” is a real estate pricing class designed to teach real estate professionals how to accurately assess property values using both Comparative Market Analysis (CMA) and appraisal techniques. In this class, the key concepts include:

1. Comparative Market Analysis (CMA):

• Definition: CMA is a method real estate agents use to estimate the value of a property based on recent sales of similar properties (comps) in the area.
• Process: The class covers how to select appropriate comps, adjust for differences (e.g., size, condition, location), and determine a pricing range.
• Objective: The goal is to help agents price properties correctly for listing and to provide clients with a fair market value.

2. Appraisal Techniques:

• Approaches to Appraisal: Students learn about the three main approaches used by appraisers:
  • Sales Comparison Approach: Similar to CMA, compares the subject property to similar properties that have recently sold.
  • Cost Approach: Considers the cost to replace the property minus depreciation.
  • Income Approach: Used for investment properties, evaluating value based on income generation potential.

3. Guest Appraiser Insights:

• The class includes a guest appraiser who shares real-world experiences and insights, offering a practical perspective on the appraisal process. This guest provides tips on avoiding common pricing mistakes, understanding appraiser language, and interpreting appraisal reports.
• The appraiser may also discuss how market conditions (e.g., interest rates, local economy) affect valuations and share industry standards and best practices.

5. Takeaways:

• A deeper understanding of how to price properties competitively in a fluctuating market.
• Tools and techniques to support informed pricing decisions for sellers, buyers, and investors.
• How to collaborate effectively with appraisers to ensure that property valuations are aligned.

The class is designed to improve pricing accuracy, reduce pricing errors, and provide real estate professionals with the knowledge they need to price properties “right” in any market condition.