Remove Appraisal Process Remove Bracketing Remove Realtors Remove Sellers
article thumbnail

Understanding the Law of Diminishing Returns in Pricing: A Guide for Real Estate Agents

Birmingham Appraisal

How Agents Can Use The Law of Diminishing Return When Pricing a Listing As a real estate appraiser with over 30 years of experience, I have witnessed firsthand the critical role that accurate pricing plays in the success of real estate transactions. In the process of pricing a home, comparing it to other similar-sized properties is essential.

article thumbnail

Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

For the above reasons, it is very important for accurate valuations during the home-buying process. While the agent acts on behalf of their seller, it is important for their pricing strategy to also be based on the most up-to-date and accurate market data.

Agents 86
article thumbnail

The Pitfalls of Outlier Sales in Pricing a Listing

Birmingham Appraisal

Some people will say that it is market value because you have a willing buyer and a willing seller. On the other hand, the value that is reflected in most appraisals is a value that reflects what the majority of other market participants are willing to pay. For sellers, this can be appealing, as it may justify a higher asking price.