Colorado Real Estate Continuing Education - COLORADO Approved School: RealEstateCE.com
4.0 hours Valuation, Marketing, and Listings Course Syllabus
4.0 Elective Hours.
In real estate, the supply is real property such as homes, land, commercial and agricultural properties. The demand is the pool of buyers. Each type of property and each geographic region have their own market dynamics. Commercial real estate and residential real estate do not closely correlate with each other, likewise neither do residential markets dynamics for example in Creede, Colorado and Seattle, Washington.
A market is said to be "hot" when there are short marketing times, multiple offers, escalation clauses and properties often selling over the list price. Even though it’s buying activity causing this market, a hot market is a seller’s market because sellers have the upper hand in negotiating power. Buyers create hot markets. If all the sellers decided to market their homes all at once, it would result in falling prices due to over-supply. It takes an increase in buyer activity to create a hot market.
This course is designed to help you have a better understanding of how market conditions and locations affect supply and demand of real property. You will have a better understanding of how current market conditions will affect pricing and marketability of real estate, including time the listing has been on the market.