The Visual Pricing System Odds of selling chart will automatically calculate the Odds of Selling by adding up all the properties that were For Sale during that period and then dividing them into the number of properties that Sold. With this data, you can have a good idea on how well homes are selling for the data you exported. Additionally, it will calculate the Absorption Rate by dividing the number of properties that sold in that period by the number of months in that period (in most cased this would be 12 months). It then uses the Absorption Rate calculation to determine the Months Supply, but dividing it into the number of properties for sale. Of course, we don’t refer to Absorption Rate or Month Supply to avoid confusion to your customers.
In making these calculations, the Odds of Selling graphs will treats properties that are Under Contract the same as properties that are For Sale. This is mostly due to the fact that it’s never done until it’s done. In most cases, this makes sense. It obviously made sense when there were a lot of short sales, where in many cases they never closed. However, there are times where you may want to change how they are treated.
The Visual Pricing System allows you to treat them in three different ways on the Odds of Selling chart.
- You can choose to treat properties that are Under Contract the same as properties that are For Sale. This is the default. So in the Odds of Selling calculation properties that are Under Contract will add into the Months Supply. In the example graphic above, there are 10 properties Sold, 1 properties Withdrawn/Expired and 7 properties that are treated as For Sale.
- Or you can choose to treat properties that are Under Contract the same as properties that have Sold. This impact of this will increase the Odds of Selling calculation (more properties that Sold), will increase the Absorption Rate and decrease the Months Supply. Be aware that this will NOT impact the other graphs. Setting the parameter to treat the properties that are Under Contract the same as Sold properties will only be in effect for the Odds of Selling calculations. So you won’t see them in the Buying Pattern or Time to Sell graphs. Additionally they will be identified as Under Contract elsewhere in the Visual Pricing System. In the example graphic above, there would be 14 properties treated as Sold, 1 properties treated as Withdrawn/Expired and only 3 properties treated as For Sale.
- You can choose the ignore the properties that are Under Contract in the calculations. This means that the Odd of Selling percentage will increase since ignoring them in the calculations means it will look like there were not listed during that period of time. It also means that the Month Supply will decrease since they will not be For Sale. In the example graphic above, there are 10 properties Sold, 1 property Withdrawn/Expired, and only 3 properties that would be treated as For Sale (the 4 Under Contract would be ignored).
So if you want to change how properties that are Under Contract, how do you do that?
- Open the Visual Pricing System Configure dialog box.
- Go to the “Start” page.
- On a PC, at the top of the page, select the “Add-Ins” menu.
- Once you do that a “Focus 1st” menu we show just below the top menu on the left. Select Focus1st->Configure
- On the MAC, select the “Settings” wheel and then select Configure.
- Go to the “Start” page.
When you’ve opened the Config Dialog box, you can change how the Odds of Selling calculations will treat the Under Contract properties.
The best way to send graphs via email is to send them in PDF format.
Using a MAC:
This is easy enough to do on a MAC.
- Bring up the chart you want to export.
- Select the print option.
- Once the print dialog box appears, in the lower left area of the dialog box is a “PDF” option with a down arrow.
- Click on the Down Arrow and select the “Save as PDF” option.
- The Save As dialog box will appear and you set the name of the PDF file and you can save it where you’d like.
I’m on a PC, and nothing seems to happen anymore when I press the big “Start Here” button. How can I run the Visual Pricing System?
It seems that a recent Microsoft upgrade for Office 2013 (we believe) has created a problem that occurs when you press the “Start Here” button that you generally use to read in an export file, it no longer works. While we believe that the problem will be fixed, there is an easy workaround that you can make use of. Just use the “Focus1st ” menu and select the “Start” option. The “Focus 1st” menu can be found by selecting the “Add-In” top menu item. Once you select that, the “Focust 1st” menu will appear to the lower left. Then select the “Focus1st” menu and the “Start” Menu will appear. Select the “Start” menu.
Pressing the “Start” menu will allow you to select your export file just as pressing the “Start Here” button does.
There are two ways to save your Visual Pricing Reports. The choice you make is dependent on what you want to do with the saved reports.
- If your goal is to save the reports so that you have access to them later, then we recommend that you use the “File -> Save As” feature. This will save the the reports out as a spreadsheet. When we start a listing, we will create a folder for that listing (and for buyers we will create a folder for that buyer). We then put everything associated with that listing in that folder. When using the Visual Pricing system, we save the exported files and the Visual Pricing Spreadsheet that we created in that folder. While generating most of the graphs are easy to redo with the exported file, recreating the scattergrams and pricelines are more work that we prefer not to duplicate. So we save all our work.
- If your goal is to save the reports so you can email them around, move them over to your IPAD, or put them into a CMA, we recommend that you print the reports to a PDF file and then save the files. [ Note: We would never email the Visual Pricing Spreadsheet, because it takes too much space in an email and we would not want our customers to be able to modify what we sent them. ]
On a MAC, saving the reports out as a PDF file is easy to do. Just use the Print function and then find the “PDF” box in the lower left corner. Select the down arrow and choose the “Save As PDF…” option.
On a PC, to create PDF files, you will need to download a PDF driver. [For more information on downloading and using a PDF driver select this link..]
We tend to do both. We save our reports in the spreadsheet in case we need to make changes, and we save the reports into PDF files so we can email them and move them over to our IPAD.
The dates shown on your scattergram are based only on the information that you have included on your scattergram. So when you create your scattergram, the Visual Pricing System will look at the data that you are including in your scattergram and find the oldest date and the most recent date to determine the date range, and it will show that date range on your scattergram.
In most cases, this will be much different than what you had originally exported. As you know, we recommend that you export data from the last two years so that you can see the trend and have a more completed set of patterns on your graphs [For more information on exporting data select this link.]. Additionally, we recommend that you look at data from the last six month (or in some cases the last year) on your scattergram when you price properties.
I’ve followed the download instructions, but when I go to open the file, I’m not able to get the setup program.
When your install program is downloaded it is downloaded as a SETUP.ZIP file. Most PC Operating Systems do have a unzip program to uncompress the file ZIP file. However, in some cases, you may need to install a unzip program. One program that we recommend is 7-Zip. It is reliable and free. You can download and install the 7-Zip program by selecting this link. Once you install the 7-Zip program you can open up the downloaded program using the 7-Zip program and then run setup.exe installation program.