YOUR EBOOK TITLE THE NEW CMA: COMPETITIVE NOT COMPARATIVE
when you bring in all the factors of historical value and the main factors of the market and you look at two homes, ours is the better value, even if it’s a higher price. To do this we need to make sure we account for how these market factors, specifically our Momentum, Opportunity, Timing, Desirability and Visibility effect that perceived value. All of these can be very easily shown and will be very easily understood when we go through this process.
STEP 3: COMPETITIVELY POSITION THE HOME & PRICE FOR MARKET VALUE
STEP 3.1: Understand the Market Factors STEP 3.2: Competitively Position the Price LOREM IPSUM
Once we have these factors it’s time to combine positioning to get to the best value.
We’ve done our search, found the competitive data, and are looking at the homes that are currently available for sale. These are homes that are available for sale in the price range where our buyers will be looking. If a buyer was doing a theoretical A or B situation they would be looking at that house and our house and balancing the pros and cons. Then they decide which one to put their offer on. So what we need to do is look at competition and position our home to win. We want to have buyers putting offers in on our home. Now that’s not saying we are going to price super low, but we are going to maximize our value in the eyes of buyers so they see we are a fair price for what the property offers and beats the competition. STEP 4.1: Convey the Information to Your Sellers STEP 4.2: Convey the Information to Potential Buyers LOREM IPSUM STEP 4: PRESENT THE COMPETITIVE MARKET ANALYSIS Once you’ve done this Competitive Positioning , and once you’ve found the correct price for the value in the market, the next thing you have to do is convey this information to your sellers. They must fully understand why you’re representing this price to them and why you’re recommending they position their home accordingly because if they don’t agree and they don’t take your advice then it doesn’t matter. So you must be very good at helping them understand that and the number one way to do this is to master your presentation. It is also important to rely on the process. Make sure to walk them through the exact thinking process and you will find that they tend to agree with you or even in the end tell you the price that you were thinking.
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