Upload
dieter
View
16
Download
0
Tags:
Embed Size (px)
DESCRIPTION
INVENTORY in a CHANGING MARKET and AVOIDING INVENTORY WITH THE WORLDWIDE ERC BMA Tools for Training Your Relocation Team. What Today’s Consumers Are Demanding: Is your Pre Marketing & Inventory home being displayed correctly?. What year is this? Make sure your home is being advertised 24/7!. - PowerPoint PPT Presentation
Citation preview
INVENTORY in a CHANGING MARKET
and
AVOIDING INVENTORY WITH THE WORLDWIDE ERC BMA
Tools for Training Your Relocation Team
What Today’s Consumers Are Demanding:
Is your Pre Marketing & Inventory home being displayed correctly?
58%
45%36%
29%
84% 84%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Very Useful
Multiple Photos
DetailedProperty InfoVirtual Tours
InteractiveMapsNeighborhood/community infoReal estateagent contact
What year is this?
Make sure your home is being advertised 24/7!
Electronic Showing Reports
Additional views during Featured Home “run”
Expectations
Assist the transferee, the third party, and the corporate client - Establish a realistic listing price - Recommend maintenance/improvement of the property condition to beat the competition - Create an appropriate marketing assistance strategy - Evaluation of market conditions and prospective buyer reactions
Accurate BMA’s don’t come easy!
Every BMA needs to be executed perfectly!
Accuracy is critical in many fields! Especially in a softer market.
Focus on the Broker’s Market AnalysisFront and Center: Condition
Cost vs. Contributory ValueThe amount it takes to repair or improve a property may not directly translate to a similar amount of value. There is no standard rule for assigning value assessments to repairs and improvements. Each market will differ as to how much of an impact certain improvements will make on a property’s value.
Focus on the Broker’s Market AnalysisInspections
When does the third party or corporation inspect the home?
Focus on the Broker’s Market AnalysisIt’s ALL about Absorption Rates
Companion pieces to this section may include
Agent Metrics Absorption Rate Calculation
One Line Active Reports w/MT New Construction Promos
• The absorption rate is defined as the number of months needed to sell the current housing inventory available. The absorption rate is different from the “days on market” statistic.
• Share the MSI (Months Supply of Inventory) on first visit.
• Also present expired listings to paint the
picture of what happens if home is overpriced.
Absorption Rule of Thumb• 0-4 months supply = Shortage• 4-7 months supply = Balanced Market• 8 or more months = Oversupply
Focus on the Broker’s Market AnalysisMore about Absorption Rates
ABSORPTION RATE A/[(P+S)/6]
# ACTIVE + A/I 37
# PENDING 3
# SOLD past 6 mos 12
P+S 15
P+S/6 2.5
#Actives / above number=MSI 14.8
Focus on the Broker’s Market Analysis
Focus on the Broker’s Market Analysis
Most Likely Sales Price vs. Market ValueThe purpose of the BMA form is to determine the “most likely sales price” of a property (both as is and with repairs and improvements). While the two terms may appear to be the same thing, “most likely sales price” and “market value” are quite different. An appraiser determines market value. Brokers are asked to provide their opinion on what is the most reasonably assumed, negotiated sales price for the property, given its condition, characteristics, and general marketability in the face of competing properties, within the defined marketing period
BMA Addendum Should• Review and describe how the financing outlined on page
one will affect marketing• Describe the market concessions and/or incentives that
will be utilized and why they are necessary• Describe how the positive and negative property features
should be handled, (by price, correction of flaws, etc.). Include photos.
• Condition: report and address* So many choices for buyers * Staging * First showing is online * The true cost of
disrepair• Describe your marketing efforts and tools – specifically
focus on internet enhancements ….considering the most likely buyer
Focus on the Broker’s Market Analysis
Encourage Staging
A Realtor’s Dream