Pricing Strategy Advisor (PSA) Certification
Gain the necessary expertise to be your sellers' trusted advisor when it comes to pricing their home to sell.
The PSA at a glance
Determining property values depends more than ever on professional expertise. Designed for real estate professionals at all experience levels and those working with either buyers or sellers, the PSA certification provides a framework for understanding CMAs, identifying appropriate comparables and making adjustments, pricing and valuation terminology, working with appraisers and much more.
The PSA and your practice
You've heard it before ...
- "Let's list my house at $500,000 and see who bites."
- "My house is worth a lot more than what my neighbor's sold for."
- "I don't want anybody to bring an appraiser in here."
Your sellers have unrealistic pricing expectations, sellers have predetermined notions that appraisers and appraisals are bad news, and your ability to create thorough CMAs is a little shaky.
When client misconceptions mix with appraisal obstacles, things can get ugly.
So what do you do, and where do you start in sorting out these problems? The PSA certification framework is your answer!
Upcoming PSA certification course
Pricing Strategies: Mastering the CMA
March 10, 2017 I 8:30 a.m. – 4:30 p.m.
The Pricing Strategies: Mastering the CMA course will enhance your understanding of pricing and comparative market analyses (CMAs) across the board so you'll be able to guide clients through the CMA to ultimately list and sell properties at the appropriate price.
You'll learn about these topics and many more in this course:
- Choosing appropriate comparables: Characteristics of comparables, Fannie Mae guidance on choosing comparables, and fundamental principles for choosing comparables including highest and best use and arm's length transactions.
- Educating clients: Sellers in the driver's seat, when homes sell quickly and seven deadly seller sins.
- Guiding clients through the CMA: Considering the comparables and competition, moving from a price range to a listing price, when clients disregard your pricing recommendations.
- Honing your pricing habits: Recognize common client misconceptions about price, strategies and tactics to stay up-to-date on your markets, and how to employ best practices for pricing properties in your daily work.
- Methods of adjusting comparables: Cost-based adjustments, market-based adjustments and the importance of market expectations.
- Pricing and the REALTOR® Code of Ethics: Article 11, Standard of Practice 11-1 and Standard of Practice 11-2.
- Principles of pricing: Article 11 of the Code of Ethics and its relation to pricing, key terms related to pricing, and the purpose and benefits of CMAs.
- Preparing and presenting the CMA: Recognize appropriate criteria in choosing comparables, identify causes of imperfect information and its consequences with pricing properties, adjusting comparables by using values developed from appropriate averages and cost data, and discussing CMA documents and pricing conclusions with clients.
- The nuts and bolts of a CMA: The purpose of the CMA, key principles of valuation that impact these analyses and important valuation terminology.
- The purpose of appraisals: How appraisals differ from CMAs and the scope of the appraiser's role.
- Working with appraisers: How to read an appraisal report, when a property assesses below offer price and red flags in an appraisal.
View the complete course outline: click here.
You'll walk away from this course with the ability to:
- Employ best practices for pricing properties in your daily work.
- Guide buyers and sellers through the details of CMAs and the underlying pricing principles that inform CMAs.
- Interact effectively with appraisers.
- Recognize and effectively address client misconceptions about pricing.
- Select appropriate comparables and make accurate adjustments to them for use in developing home price opinions.
- Date/time: March 10, 2017 / 8:30 a.m. – 4:30 p.m.
- Location: WRA headquarters live / classroom webcasts to Eau Claire, Mosinee, Sheboygan and Woodruff.
- Instructor: Carrie Little.
- Credits: This course can be credited toward the following designations or certifications: ABR, PSA or SRS. Also qualifies toward one GRI live elective credit. Does not qualify for CE elective credit.
More PSA information