You’ve always known the importance of comps and market trends to setting pricing. But in today’s market, having an understanding of the lender’s requirements has become just as critical to a successful closing. Watch this short video to learn more about the RVM in pricing.
Very helpful!
By the way – I noticed that the RVM confidence was rated at 5 stars on nearly 90% of the local area listings – oddly, the most accurate RVM ($5k off the recent sale price) was rated at 4 stars. Can you do a session that provides details on the star rating?
Hi Victor – Following up, here is the support article on AVM and RVM confidence scores: http://support.narrpr.com/entries/183465-what-is-an-avm-or-rvm-confidence-score
Reggie -
I like the concept of the RVM, but it’s just not accurate in my market. The only way I would use the RVM with a client is to make them aware of automations and then discredit it. My house is 20% off, another I pulled is 30% off … both have RVM Confidence ratings of 5 stars.
As it stands right now, in my market, it’s not viable.
Hi Victor – Thanks for the comment, and yes we can put something together. For starters, I’ll get a blog post on the subject up.
I DO QUITE A LOT OF CMA AND ALWAYS STRIVE TO BE AS ACCURATE AS POSSIBLE AND WOULD LIKE TO HEAR MORE ABOUT RVM TO HAVE AS MUCH OF AN UNDERSTANDING AS I CAN.
good post…I enjoyed the presentation and I am going to look into what RVM can do for my business, thanks
That’s great to hear…thanks for the comment, Flavio!