"Pricing Perspective Scale" Decoded | dashCMA

“Pricing Perspective Scale” Decoded

Apr.5.2019

The “Pricing Perspective Scale” is one of our favorite parts of dashCMA. All the perspective you need in one sleek view. It deserves it’s own time in the limelight so we put together this handy dandy infograph that breaks down each part of the scale.

 

Being able to select comp “spotlights” and also show “averages” is easily one of our favorite parts of the pricing perspective scale.  Showing a client property details pages for all 30 comps is not only overwhelming, it creates confusion. We’re not suggesting you disregard them, rather dashCMA allows you to put a spotlight on the closest comps.  Browse pictures, review key info for each comp and select which ones to spotlight on the scale. The 30 comps are still represented in average calculations for average/pending/closed properties.

Scratch that, “features” is definitely our favorite. The value of certain home features ranges by neighborhood.  Easily pull in what actives with and without key features are listed for to see the delta in each neighborhood.  For example, in the San Fernando Valley summer temperatures reach 100+ degrees.  Buyers are willing to pay more for a home with a pool than without a pool.  In Las Vegas, having a view is priceless.  Now you can easily see the price delta in homes with a view and without a view.

Actually, we take that back. “Flags” is most absolutely our favorite.  When running a report for comps, the goal is always to be as narrow as possible to pull comps that align closest to the subject property.  The problem with this is the agent won’t be able to see how this compares to homes that just missed the mark for being considered a “comp.”  For example, if you are pricing a home that is 2,000 square feet and 3 beds you might start with looking at comps that are between 1,600 – 2,400 square feet (-20% to +20% of subject), same bed count and within a mile of your property.  This is a great start but doesn’t give you the full picture.  For example, the home next door could be 3 bed and 2,500 square feet – just outside the sqft range you set for pulling comps.  Flags allows you to see if there are homes that meet all your comp selection criteria but are bigger/smaller.  In this example, you can easily see what 3 bed homes within that mile selection that are 25% – 50% larger in sqft are asking for.

Each variable on the scale brings a different value that grows exponentially when viewed together.