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In this blog post, we will delve into the concept of the Law of Diminishing Returns and explore how realestateagents can utilize this knowledge to effectively price their listings. This insight highlights the importance of using the bracketing method and including both larger and smaller comparables in the pricing process.
Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between realestateagents and appraisers can be a touchy subject. On one hand, the realestateagent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.
11 Helpful Tips For Choosing Comps Whenever I speak to agents about the realestate market and the appraisalprocess the one topic that the discussion always leads to is about choosing comps. Using sales that are inferior, similar, and superior to the subject in some aspect constitutes bracketing.
Whether you’re a seasoned realestateagent or a curious homeowner, understanding the dangers of outlier sales can help ensure a more accurate and fair representation of property values. The Agent’s Role in Pricing Pricing a home accurately is a pivotal step in ensuring a successful sale.
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