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.

article thumbnail

Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

Agents 87
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

In today’s market where so much information is available online, it’s important to put in the research upfront when pricing a home because we know buyers do and they will know when a listing is overpriced. Using sales that are inferior, similar, and superior to the subject in some aspect constitutes bracketing.

article thumbnail

The Pitfalls of Outlier Sales in Pricing a Listing

Birmingham Appraisal

The market area that the property is located in can definatley support the price but does the price truely reflect the market value of that specific property or does it reflect what a super motivated buyer with available funds is willing to pay? For buyers, it could mean a potential bargain. There is a difference.

article thumbnail

2024 Bidding Wars – How to Strike and Win

Lamacchia Realty

With an expert in their corner, buyers will have a highly skilled professional to help them implement some of the following tactics to help set their offer apart from others in a bidding war. Some buyers send that message with a heartfelt letter showing how much they love the home. Real estate is a long game.

Buyers 70
article thumbnail

Modern FSBO Listing Services: Innovative Tools You Can Use

Listing Spark

There are numerous other reasons why you might want to sell your home without an agent, such as saving money and maintaining control. In modern practices, there are plenty of online tools homeowners can use to navigate the market, negotiate deals, and successfully sell their homes without hiring a real estate agent.

article thumbnail

Housing Statistics for Beginners, Part 2

Birmingham Appraisal

A great skill to have for a real estate agent, or anyone in the real estate industry, is the ability to download sales data from your local MLS and import it into a spreadsheet program like Excel or Google Sheets. In a seller’s market, where there are more buyers than available homes, prices might be higher.