If you’re thinking about becoming a pricing strategy advisor in real estate, then you might be wondering what exactly PSA certification is. What is PSA in real estate?
PSA stands for Pricing Strategy Advisor and it’s a designation that shows that you have the skills and knowledge to help your clients price their homes correctly. I got my start in real estate when I was helping my aunt sell her house. She had no idea how to price it and she ended up leaving money on the table because she didn’t want to overprice and scare away potential buyers. That’s when I realized that there was a need for people who could advise others on the right pricing strategy – hence why I decided to get my PSA certification.
Since then, I’ve helped countless clients price their homes correctly so they can get top dollar for their property while also selling quickly. If you’re interested in becoming a Pricing Strategy Advisor, then read on to find out what is PSA in real estate and how you can get into this exciting career path!
What is PSA in Real Estate?
The Pricing Strategy Advisor course will provide you with the skills and knowledge necessary to create an accurate and professional comparative market analysis (CMA). You will also gain a better understanding of how appraisers determine property values, giving you a valuable edge in the real estate industry.
The PSA certification is the gold standard for home appraisers. It will show clients that you are an expert in your field and that they can trust your opinion on home values.
Through the courses required for certification, you will learn to overcome the most common price objection that clients have.
If you have a seller who wants to price their home above market value, as a certified PSA you will be able to discuss why that may not be the best approach. You can show them a better strategy that is backed by your professional certification.
The same rule applies to buyers who want to make an offer that is too aggressive.
Having the right tools on hand to help your clients determine the price of a home about the current market conditions will help your offers get approved more often.
How to Get a PSA Certification
You will need to pay a $179.00 application fee when you submit your application at https://pricingstrategyadvisor.org.
There are no annual certification dues. However, you must maintain your membership in the National Association of Realtors to keep your PSA certification active.
The PSA certification course is offered to anyone who wants to learn about appraising and pricing a property. This 8-hour class can be taken for continuing education credits only in Texas.
You should also learn how to interpret and understand comparative market analyses.
The Mastering the Comparative Market Analysis online course covers the purpose, use, and impact of comparative analysis or CMA. Learn the difference between market analysis and appraisal.
In this course, you’ll learn how to prepare a CMA, how to work with an appraiser, and how to handle common price objections.
The eight credit hours from the Texas Real Estate Commission will give you the tools you need to succeed in this field. Textbooks are included in the cost of this course.
You will have two courses under the Accredited Buyer Representative (ABR) Designation Program — the main ABR course and your choice of an elective course. By completing these two courses, you’ll satisfy the educational requirements necessary to obtain your ABR Designation.
The Champions Advantage package includes:
- Accredited Buyer Representative (ABR) course
- Elective course
- Military Relocation Professional (MRP)
- New Home Construction (NHC)
- Mastering the CMA
- Marketing Strategy and Lead Generation (MSLG)
You can opt for traditional classroom learning with an instructor leading lectures and discussions.
If you’re someone who prefers to learn in a face-to-face classroom setting, then this course is for you! Students must attend all scheduled classes to receive credit for the course.
If you want to learn from the comfort of your own home or office, then the virtual classroom is perfect for you. Complete your lessons on your own time and then meet with a teacher online to answer all of your questions.
PSA Coursework and Requirements
The “Mastering the CMA” course covers topics relating to home pricing and is offered through both in-person and online courses.
Some of the topics in this module are how to compare similar homes, how to make adjustments to comps, and how the code of ethics applies to real estate.
You’ll also get tips on guiding clients through the price-determining process so they can make an informed choice.
You will learn how to use effective communication skills when talking to an appraiser, as well as how to price your services.
To earn the Certified Short Sale Professional (CSAP) designation, you must be a member of the National Association of Realtors (NAR) and be of good standing.
Is Getting a PSA Certification Worth It?
The PSA designation is worthwhile for most if not all residential real estate agents.
Always try to go the extra mile when it comes to learning new skills.
Pricing homes can be difficult, but with the PSA certification, you will have the tools and knowledge to become an expert. This will be highly beneficial to your clients, as you will be able to help them price their homes accurately.
However, if you’re more interested in gaining credibility as a realtor, this designation may not be worth as much.
If you’re having difficulty pricing homes, one option is to find a less expensive class that covers how to find comparable properties. This can help give you a better understanding of how to price your homes correctly.
Getting your PSA designation, as well as others, is still highly recommended.
The whole course is only six hours and you may even be able to apply these credits toward your annual CE requirements.
The ABR designation is a popular choice for real estate agents because it provides them with the skills and knowledge necessary to succeed in the industry.
If you’re thinking about becoming a pricing strategy advisor in real estate, then you should consider getting your PSA certification. What is PSA in real estate? This designation lets you help your clients price their homes correctly so they can get top dollar for their property while also selling quickly. So if you’re interested in becoming a Pricing Strategy Advisor, then make sure to get started on the path today!