Create Magic Numbers for Your CMAs

One of your key skills and attributes as an agent is creating “the right price” for your sellers’ homes. Troy Palmquist came up with a list of suggestions in a piece for InmanNews and we are passing along Palmquist’s suggestions to help you nail that price, cut the days on the market, generate offers and sell your listings efficiently without wasting anyone’s time, including your own.

Palmquist’s suggestions include:

1. Having the right technology
   1. Palmquist claims that using the “right” pricing tool can generate +43% more transactions/year.
   2. Palmquist uses the MoxiWorks platform and within that platform is the tool
      1. MoxiPresent looks at listings with photos, factual data of comparables, charts/graphs of what is being marketed, comparisons of actual sales prices with Zestimates, connects with MLS data to generate additional listings and leads, etc.
      2. MoxiPresent can also create interactive presentations, open houses, listing, relocation presentations, pre-make templates for page builder.
      3. Palmquist also recommends looking at CloudCM, House Canary and Toolkit CMA.
         1. Cloud CMA has pre-written and designed listing presentations, home valuations, landing pages, local school information, walk score, and Yelp reviews.
         2. Cloud CMA can also generate property tours, reports, fliers, etc.
   3. Scouring the market to assess the neighborhood since neighborhoods can change overnight due to road closures, repairs and maintenance AND new amenity developments.
   4. Communicate and educate your homeowners so they CLEARLY understand the differences between their home and competitive listings.
   5. Suggest improvements owners could do to enhance their property such as painting, landscaping enhancement, flooring updates, etc.
   6. Be an analyst to “win the day.”
      1. Use every resource possible to determine the effective (selling) sales price.
      2. Evaluate every sold and unsold listing to determine why unsold listings didn’t sell.
      3. Look at pending listings and do the same analytical evaluation.
   7. COMPARE/CONTRAST/COMPARE by using the best tools and research materials, tracking, managing and defining to determine the BEST CASE SCENARIO for each and every property.