Preparing a Market Analysis - Best Practices (3hr)
Whether for a buyer or seller, the comparative market analysis, properly done, can mean several thousands extra dollars in their pockets, and can determine whether a deal can be struck at all. But because it’s such a well-worn tool, it’s tempting for a licensee to get complacent with the CMA, and “phone it in.”
Don’t be that licensee!
This course covers the how-tos of a professionally researched comparative market analysis.
Course Highlights:
- The three-step approach to market analyses: the market, the property, the numbers
- Sources for subject property data and market data
- Using expired and active listings to inform pricing strategy
- How to prioritize criteria when selecting comparables
- How to adjust and homogenize selected comparables
- How to weight selected comparables when selecting a list price range
State Requirements For New Jersey
New Jersey State Requirement Details for Real Estate Broker, Broker-salesperson, and Salesperson Continuing Education
Renewal Date: June 30th of odd-numbered years. Continuing Education must be completed by April 30th of odd-numbered years.
Hours Required: 12 hours
- 6 hours in core topics
- 1 hour in Fair Housing & New Jersey Law Against Discrimination
- 2 hours in Ethics
- 1 hour in Agency
- the remaining hours in any core topic
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Agency
- Disclosure
- Legal issues
- Ethics
- Fair Housing
- Rules and regulations
- Real estate licensee safety
- Financial literacy and planning
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- 6 hours of elective courses - A mix, or all of the same, of any of the following four CE types: ELECTIVES or ETHICS or CORE or FAIR HOUSING
Note: Salespersons initially licensed in the FIRST year of the NJ real estate license term ARE REQUIRED to complete CE requirements in order to renew their license for the next term. Salespersons initially licensed in the SECOND year of the NJ real estate license term shall not be required to fulfill any continuing education to renew their license upon the conclusion of that license term.
New Jersey Real Estate Commission
Street Address: 20 West State Street, Trenton, New Jersey 08608
Mailing Address: PO Box 328, Trenton, New Jersey 08625-0328
Telephone: (609) 292-7272
Email: realestate@dobi.nj.gov