Special offer

New pricing model

By
Real Estate Agent with Century 21 Results Realty GA RE Lic # 282060

I'm still out here at the National Association of REALTORS(R) Convention in Las Vegas. So far, it has been a pretty cool experience. Sorry I don't have any pictures, I actually have carried my digital camera with me everywhere... but I haven't even seen the strip.

So, what interesting stuff is here for consumers? Just about nothing. But, as a REALTOR(R) there have been quite a few interesting revelations. One thing I can say for sure is that I have found a new pricing model that has amazing potential. CMAs (Comparative Market Analysis) look to be a thing of the past for me. I attended a seminar yesterday on "Right Price Analysis", or Absorption Rate Pricing models.

I don't think it could sound any drier... Oddly, the session was the most entertaining one I've been to. The material was extremely interesting, and the presentation was excellent.

"So, what are you going to do about it, Lane?"

Look for a new method for me to deliver my market reports. I will be using absorption rates in my market reports. Basically, this will cover how much inventory is on the market in different segments, and what percentage of listings are actually selling. It will be a much more accurate picture of the market, and can be scaled up or down. I will literally be able to give a reasonably accurate picture of the market activity in a subdivision, as well as its direction.

I isn't the most exciting thing to hear about, but I hope that the results will be more helpful to people getting in to the market as buyers and/or sellers. If you want to be ahead of the curve, call me or send me an email, and we can do a RPA for your home that you are looking to sell. (please keep in mind that if you are currently listed with another agent, I cannot talk to you about your property, or I could lose my license).

I have a few more classes today, and I hope to run across some more exciting information.

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Comments (2)

Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth
Lane, thanks for walking the NAR Convention and giving us your thoughts. The Absorption Rate Pricing model is interesting cause it would show what is happening to inventory by neighborhood or area. I would wonder if it would get too technical for some home sellers when they really just want to know a narrow range of what their house should sell for without the background info. I think if it could be displayed in graphical chart form that would help out the presentation a lot.
Nov 14, 2007 01:35 AM
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy
Gary - I think that many of our clients are more savvy than we might give them credit for.  I know that many of my clients have a business background, and even if they didn't already understand the concept, it could be easily explained.  
Nov 14, 2007 02:10 AM