A class like no other you'll find; anywhere. In Realsville, USA, when agents calculate home prices, they are typically determined using a price-per-square-foot formula. Look at most CMA's and you'll find this simple, yet all-powerful formula. Using price-per-square-foot is the method taught in most textbooks, CMA courses, and in most real estate offices across the country. It's just the way its always been done. The subject of where this number comes from is rarely discussed in any office or class; or at any local, state, or national gatherings. In most cases, the less said about square footage the better. Leaving a sense of mystery surrounding this topic, making the public think it is just too complex for them to understand, seems to be the preferred method. This class will take away the mystery and help you to understand how to provide this number with less liability. As the ultimate real estate experts, agents and appraisers should understand this topic. That's not to say that any agent need ever measure a house. however, personally measuring, or being responsible for gathering accurate information, is quite a different topic. MLS is the Voice of Real Estate and holds the key to "quality" home valuations.
This class will shock you, teach you, and hopefully, give you a totally new perspective on the "power" of "price-per-square foot." Indeed, in every residential transaction, Size Matters!
This course might just make your jaw drop! Most real estate professionals never really think about the square footage details listed in Public Records, or how those numbers influence home values. They affect CMA's and appraisals. In addition, they affect Automated Home Valuations (AVM's). This course will uncover real life examples from across the country of how square footage details reported by local tax departments create over (and under) stated values. The discrepancies are often large enough to dramatically alter home values.
Everyone seems to be working hard to improve the “quality” of the appraisal industry. As this class will show, “quality” starts with the MLS. The MLS is the most trusted “source” of real estate information in the world. Key word being”source” of information. If the real estate industry depends on the square footage data listed by the local assessor’s office, they fall closer to the competition, which all have access to public records. The key to quality is not just information quantity, but information quality. Learn how the square footage details are collected and why, and how the tax department has no responsibility to the real estate industry. You will learn why this information was originally created and explore the many reasons why, if the real estate valuation process wants to help stabilize home prices (and mortgage security), the real estate industry must look within for the answers. Public records are one reason why computer valuations will never replace the skill and knowledge of a licensed real estate professional.
Discover the real, real estate crisis – the information crisis!
Learn the fundamentals of measuring residential square footage, and why this (often taken for granted) information influences every residential transaction.
HMS® Certification - This course provides real estate professionals with knowledge and awareness of measuring principles applied in residences so that they can guide clients in making wise home pricing decisions. The course encourages the real estate professional to be an advocate for consumers, emphasizing the importance of accurate information in the home valuation process, and the dangers of relying on the information reported in public records and computerized valuation services. Students can serve as a positive force for creating an improved real estate information network, helping to stabilize the national real estate market and secure mortgage lending and investing.
A final examination is required at the end of both courses. The final examination consist of 50 questions and a test score of 75% or greater is required for Certification. The student will be notified of the number of questions answered correctly after final examination has been completed and be able to review all questions and answers, although the exams may not be copied or printed. There is a large pool of questions to ensure a working knowledge of the subject matter.
The courses are currently approved for CE credit in numerous states, but they are not approved in all states yet. You can still earn the HMS Certification without CE credit. If the classes are not available for CE is your area yet, complete both classes and contact us at housingtechnologies.com. You can then register to take the exam and become Certified.