CMA stands for:
“Comparative Market Analysis.”
|
|
A CMA is a professional opinion of market value prepared by your real estate consultant that provides objective data comparing the features of your property to similar properties which are currently for sale, are pending sales, just sold, or listings that expired and failed to sell. View a sample CMA (coming soon)
The CMA is developed in advance of listing your home for sale. This is a professional assessment of what your house is worth, but not a formal appraisal. The CMA will be employed to determine the listing price of your home, and during negotiations with buyers to demonstrate that your home is priced correctly.
To gather data for a professional CMA, your agent will inspect your property and list the selling features that drive and support their final price recommendation. This inspection deals with readily viewable features of the home. Your home should be in such a condition that allows the agent to make an accurate assessment of its condition and worth. If you plan to make improvements before selling, inform the agent during the pricing inspection.
Following the pricing inspection, the consultant will collect data on properties with comparable selling features through the local MLS, use their market knowledge and additional resources to confirm the data and when the analysis is complete, review the resulting CMA with you.
Other Uses
Owners who are remodeling can consult a CMA to determine if the intended changes will “over-improve” their property compared to other homes in the neighborhood.
Buyers should request a CMA for homes they are considering for purchase, to determine if the asking price is a true reflection of the current list condition.
CONTACT US to list your property today!
Connect with Kendra On:
-
-
-
-
-
-
