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 Washington
Washington State Requirement Details for Real Estate Continuing Education
Renewal Date: Every two years
Hours Required: 30 hours
Renewal for Brokers:
First Renewal:
- 30-hour Advanced Practices Course
- 30-hour Real Estate Law Course
- 3-hour Current Issues in Washington Residential Real Estate Course
- 6-hour Wasington Real Estate Fair Housing Course
- 21 hours of other approved continuing education
You must start these hours after the date you're first licensed. If you haven't taken the initial 6-hour Washington Real Estate Fair Housing course, you must take it first.
- Once you've taken the initial 6-hour course, you must take the 3-hour Washington Real Estate Fair Housing course each time you renew.
- At least 30 hours, including:
- 3-hour Current Issues in Washington Residential Real Estate Course
- 3-hour Washington Real Estate Fair Housing Course
- At least 27 hours other approved continuing education
- At least 15 hours must be completed within 24 months of your renewal date.
- You may also use up to 15 hours of unused continuing education completed within 48 months of your renewal date.
Inactive renewals
- No Continuing Education required to renew an inactive license.
- If you want to activate your license, you may need to meet the education requirements for an active license.
Renewal for Managing Brokers:
- At least 30 hours, including:
- 3–hour Core Course
- 3-hour Fair Housing Course
- At least 24 hours other approved continuing education
- At least 15 hours must be completed within 24 months of your renewal date.
- You may also use up to 15 hours of unused continuing education completed within 48 months of your renewal date.
- The hours must be started after the date of first licensure as a managing broker.
Washington State Department of Licensing
Street Address: 2000 Fourth Avenue West, Olympia, WA 98502
Mailing Address (Forms with no payments): P.O. Box 9021, Olympia, WA 98507-9021
Mailing Address (Forms with payments): P.O. Box 3917, Seattle, WA 98124-3917
Telephone: 360.664.6488
Fax: 360.586.0998