Originally Posted by scotrvmarine
NADA derives it's numbers from what we dealers submit to them quarterly. Year make model and the sold dollar value. Clicking any options (real options) throws the value off. The options tend to help the unit sell but no one wants to pay for the options on a used RV. The trade in number is slightly higher than what a dealer can buy the trailer for at a dealer only auction. The retail number is the average of the reported sold values for that particular trailer on a dealers lot with a warranty, state inspection and repairs to put it in proper condition. This means some sold for less and some sold for more.
I understand that NADA has to have some standard to set prices. However, they are continuously looking at stale numbers. And, can the dealers skew the numbers? That's the numbers they will be using for trades.
In SW Florida, I checked the NADA before selling a boat. The numbers were very low considering the condition of what we were selling. So, Internet sites were compared to include dealer offerings. The vast majority of like items were well above NADA. We sold the boat $5,000 over NADA figures and two parties wanted it very much. Both competing buyers were aware of the NADA figures. Yes, area is a factor, but that was taken into account.
We sold a Lance slide-in camper in Wisconsin and went through the same process of setting price. That unit sold well above NADA.
As a rookie real estate agent, my first comps were for the court, so I was very careful. Over a year later, the power of attorney contacted me and said they were listing the property. But they were suspect of my comps compared to two other real estate companies. Double checked and verified with the broker, I stayed with my figures. I thought I had lost the listing. But then I got a call that they were going to take the chance.
First day on the market, two buyers looking at the same time, and two cash offers. But one was a full price plus. The home sold. At closing, I asked the POA how I compared with the other two. The POA was very happy that she cleared more money after taking out agent and closing fees than the other two were going to list it for. We were initially working of the same comps.The other agents wanted a low ball and quick sale approach. I wanted the best price for the seller and the buyers were still very happy. You have to think outside the box.