Question

A sales associate has a house listed at $200,000. It's overpriced and he feels it has only a 70% chance of selling in the original listing term. He also has a $300,000 house that has an 80% chance of sale. A quality review of his listings shows he realistically has?

Answer 1

The quality values of the sales associate's listings are:

House A: $200,000 x 70% = $140,000

House B: $300,000 x 80% = $240,000

To determine the quality value of the listings, you have to multiply the listed amounts by the chances of sale.