TITLE

A Closer Review and Strategic Implications of the Comparative Market Analysis in Setting the List Price

AUTHOR(S)
Nguyen, Chu V.; Pointer, Lucille L.; Strain, Charles
PUB. DATE
December 2012
SOURCE
Journal of Marketing Development & Competitiveness;2012, Vol. 6 Issue 5, p48
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Investigating the belief that real estate properties selling within the time of the listing agent's contract duration are correctly priced based on comparative market analysis revealed that per square foot listed and sold prices, not their percentage deviation from the average of recent past sold prices, contribute more to the Time on Market (TOM) of listed property. Comparative Market Analysis (CMA) pricing is thus not as critical a factor in the prediction of Time on Market (TOM). Instead, other contributing factors contribute significantly to the TOMs of listed properties. As such, strategic planners may need to rethink their sales strategies.
ACCESSION #
89901944

 

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