There are several major issues that can have an impact on the value of a single family home and its eventual pricing and sale.
These include:
- sellers unrealistically thinking their property is worth more
- various building and environmental issues (e.g., contaminated soil and ground water, UFFI, water and moisture problems)
- a stigmatized property (e.g., there was a murder on the premises)
- certain types of wiring (e.g., aluminium, knob and tube)
- surrounding houses
- easements and encroachment
As a REALTOR®, your seller clients will rely on you to price their home accurately and list it as close to market value as possible. The benefits of doing so include selling the property for a higher price in a shorter time span, and less time, money, and effort spent in marketing the property.
Do you know how to price a single-family home accurately? If not, you may want to consider enrolling in Pricing to Sell, an online continuing education course offered by OREA Real Estate College. Divided into three modules, Pricing to Sell will cover the following topics:
Module 1: Influences and Impacts of Property Pricing, deals with the common factors that impact the selling of a property (as noted above)
Module 2: Comparables and their Adjustments, covers techniques for calculating adjustments when comparing other properties in the area to the subject property
Module 3: Pricing Land and Apartment Buildings, reviews methods for valuing land (comparative sales and abstraction) and apartment buildings (income approach)
Click and Pick: Choose as many CE courses as you like for $15
The College is currently offering a special promotion on continuing education courses. Students and members can take as many courses as they wish for $15 + HST. Please note, returning customers to this offer will be charged $15 (+ HST) per order.
This offer is available until December 31, 2013. Students will have access to the courses until July 31, 2015.
For more information, go to http://bit.ly/14eFqPo.
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