Why Is Supply & Demand Pricing Better Than Using COMPS Alone To Price Real Estate?
Since the beginning of time, sellers, buyers, and agents have struggled with how to properly price real estate. The current standard is to use comparable sales, but that only arrives at an appraisal value which determines how much money a financial institution will lend on a property. It uses historical data and does not reflect current market value.
The real estate market is a MARKET and all markets are governed by the principles of supply and demand. A large employer announces they are closing a plant and the market is flooded with inventory. A large company announces they are opening a new location and demand goes through the roof. These are real life situations that affect supply and demand for properties and their current market values and have nothing to do with COMPS. If a given market has more inventory than it has buyers, prices will drop. Conversely, if there are more buyers than available inventory, prices will increase. Certain price points in a given market may be very hot, while others are very slow. The beauty of my program is that it will analyze each segment of the market, Your NEIGHBORHOOD, Your ZIP CODE, and Your HOMETOWN.
Until now, there has never been a tool to determine supply, demand, sales rates, market trends, flow rates, and probability of selling.
NOW THERE IS!