Priced to Sell:
Delivering
Effective CMAs
KW065

2
Presenter
Gene Rivers
The Rivers Team
1. Tallahassee, FL
2. Agent, Owner, and KWU International
Master Faculty Member

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Priced to Sell: Delivering Effective
CMAs
Main Ideas
2. Get Into the Details
3. CMA Criteria and Tools
4. Telling the Market Story
5. The CMA Core—Data Displays, Close
6. Pricing Strategy in Shifting Markets
7. More Tools and Tips
A copy of this presentation is available for
download at www.kellerwilliamsuniversity.com

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Get Into the Details
1. You are the Expert—Teach Them
Things They Don’t Know
a. Beyond MLS
b. Local economist
c. How real estate markets work
d. Market history of neighborhood, street,
or home

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CMA Criteria and Tools
1. Criteria
a. Variations by price range
b. Time period you select
c. Location
d. Size
e. Age
f. Floor plan

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CMA Criteria and Tools (continued)
1. Tools
a. ProManage/TOP PRODUCER CMA
1. Link to local MLS data
2. Dozens of pre-built presentation pages
(market story and pricing data)
3. Customize for your customer and you

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CMA Criteria and Tools (continued)
1. Tools (continued)
a. TMOReport.com
1. Total market overview
2. Your market across price ranges
3. Emailed to you every other week
4. Developed by The Hardie Group

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CMA Criteria and Tools (continued)
1. Strategy: When to Share Your Final
Price Recommendation
a. CMA includes final price
b. CMA does not include final price
c. Pros and cons of each

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Telling the Market Story—How
Markets and Pricing Work

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Telling the Market Story (continued)

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Telling the Market Story (continued)

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Telling the Market Story (continued)

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Telling the Market Story (continued)

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Telling the Market Story (continued)

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The CMA Core—Data Displays
1. Market Story Sets Up Your Price Data
Analysis
3. Elements
a. Property legal page(s)

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The CMA Core—Data Displays (continued)

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The CMA Core—Data Displays (continued)
a. MLS Data Page(s) -- Active, Pending,
Recent Sales, Expired Listings
1. Criteria are your strategic call
2. Time period used; size; age; floor plan;
garage; lot size; etc.

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The CMA Core—Data Displays (continued)
a. Charts of Direct Comparables (Active,
Pending, Recent Sales, Expired
Listings)
 Address; bedrooms and baths; square
footage; year built; high-average-low list
and sale price; days on market; price per
square foot

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The CMA Core—Data Displays (continued)

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The CMA Core—Data Displays (continued)
a. Chart Comparing Recent Sales—List to
Sold Price

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The CMA Core—Data Displays (continued)
a. Property Detail Pages—Compare
Features

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The CMA Core—Data Displays (continued)
a. One Page Summary of Comparables

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The CMA Core—Data Displays (continued)
a. Suggested List Price—Narrow Range

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The CMA Core—Close (continued)
a. Assumptive Close Visuals—Home
Selling Process; Preparing to Sell Tips;
Marketing Plan

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Pricing Strategy in Shifting Markets
1. Your Final Price Recommendation
a. When to share it—before or after
signing (pros and cons)
b. Mindset: Bring the seller with you—to
the answer
c. How to factor in market movement

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Pricing Strategy in Shifting Markets
(continued)
1. Apparent Price vs. Strategic Price
a. The CMA sets up your final price
recommendation
b. Strategic pricing includes your
assessment of market movement

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Pricing Strategy in Shifting Markets
(continued)
1. Pricing Behind, At, or Ahead of the
Market

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Pricing Strategy in Shifting Markets
(continued)
3. Pricing In or Out of the Market

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Pricing Strategy in Shifting Markets
(continued)
1. Pricing in Fast Shifting Markets
1. Know the speed of the shift
2. Pricing becomes both an observation
and a forecast
Don’t chase the market; let
the market chase
you!
- SHIFT

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Pricing Strategy in Shifting Markets
(continued)
1. Price Indicators in Fast Shifting Markets
a. The importance of watching new active listings, and
price changes
b. Average list price to sale price
c. Active to pending ratio
d. Expired listings to sold ratio
e. Affordability and absorption
rate trends
g. Showing activity (your other listings)
h. Seasonal sales activity (varies)

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More Tools and Tips
1. Price Reduction Effect
a. Longwood University Study (Virginia 2004-07)
 Each 10% that list price exceeds sale price equals
an additional month of time on market
b. KW research in major metro markets
 Price reduced properties take almost 2.5 times
longer to sell than those
that are not reduced
 Recent Florida data correlating
price decreases and unit volume

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More Tools and Tips (continued)
1. Use a Net Sheet—Money Talks
3. Bracketing Strategy—Be in the Right MLS
Price Bracket
5. Overpriced Listings—To Take, or Not To Take

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Ideas into Action
1. Be the expert—detail oriented and market
wise
1. Be the local economist of choice
 Study and practice CMA tools and skills
 Do unsolicited CMAs—practice, and prospect
3. Sharpen your strategic pricing skills for
shifting markets

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