Real estate designations and certifications allow Realtors to increase their knowledge and help differentiate themselves from the thousands of other Realtors in the industry.
One certification that is offered is the Pricing Strategy Advisor (PSA). Many real estate agents also call it a PSA Designation but technically speaking, it’s a certification.
Let’s look at what this certification is so you can decide if this is something that would be a worthwhile investment in your business.
What is the PSA Certification For Real Estate Agents?
The PSA certification was created to help agents price properties.
Whether an agent is working with appraisers, representing buyers, or pricing a listing for a seller, being highly skilled in this area is crucial.
The coursework required to get this certification will teach agents how to effectively and adequately determine the price of a home so they can represent their clients with confidence.
What Are The Benefits to Getting Your PSA?
The PSA course will show you how to properly create a CMA and give you more insight into how appraisers determine property values.
Getting the PSA certification will show clients that they are in good hands and trust your expert opinion on home values.
Through the course required to become a certified PSA, you will learn how to overcome common pricing objections that your clients may have.
That means when you have a seller who wants to price their home way above market value, you will have the ability to discuss why that may not be the best approach and have the ability to show them a better strategy.
The same goes for a buyer who wants to make an “aggressive” offer.
Having the tools to show them how to determine the price and its relation to current market conditions should help guide them to make offers that get accepted more frequently.
PSA Coursework and Requirements
What’s great about the PSA certification is that you only need to take a one-day course.
The course titled “Pricing Strategies: Mastering the CMA” is offered in-person and online and discusses topics related to pricing a home.
Some examples of the topics covered are how to find appropriate comparable properties and how to make proper adjustments, how the Code of Ethics relates to pricing, and how to guide your clients through the pricing process.
You will also learn how to communicate with appraisers effectively and how to discuss price with your clients.
The only other requirement you will have to meet in order to be awarded the PSA certification is to be in good standing with the NAR.
The PSA Certification costs $130.00 and also gets you 6 Continuing Education credit hours for most states except NC, IA, DC, and OK. You will have 12 months to complete the PSA course which should be ample time.
Is Getting The PSA Certification Worth It?
Yes, the PSA Certification is worth it for most if not all residential real estate agents.
It is always a good idea to go above and beyond to learn and expand upon your skills.
This certification will give the framework to become an expert at pricing homes which will be highly beneficial to your clients.
That being said, some other real estate designations and certifications are more worthwhile for growing your business, so if business growth is your goal, this certification may not help as much in this area.
Suppose you are truly struggling with pricing homes. In that case, you could either find a less expensive class that shows you how to find appropriate comparable properties.
Either way, we still recommend getting your PSA as well as several other designations.
I personally have my PSA and to be honest, it was pretty easy to get.
The entire course is just six hours and you probably have some continuing education credit hours to get done anyway!
The ABR Designation is also a very popular designation for real estate agents.
Here are some other real estate designations you can also consider.
Where Can You Get The Pricing Strategy Advisor Certification?
You can get your PSA through the “Center For REALTOR® Development.
You’ll find the course titles “Pricing Strategies: Mastering the CMA.”
Here is a direct link to the PSA Certification Course for real estate agents.