GETTING A COMPARATIVE MARKE TIVE MARKET ANALYSIS FREE FROM AN AGENT! GENT!
Most home sellers are familiar with the idea of a comparative market analysis. This is a popular tool to ascertain a property's actual value intended for sale. Comparative market analysis, or CMA, analyzes the sales deals of homes comparable to yours in the surrounding region. This analysis is a detailed one, taking into account every aspect of your home in detail. In the first place, though, I want you to know that this is not an appraisal. The value assigned in this process is subjective, based on the beliefs of the Realtor® as to how much the home can be sold for. The assessment will never have any financial or legal validity, though agents frequently use it to win listings by presenting a higher potential value for a home. Many agents are prepared to give you this assessment for free. The principal objective of CMA is not to give you a prediction or expectation but to give you a fair idea of where to base the listing price for your property. Hence, it reasonably aligns with market trends to encourage a successful sale. Depending on your choices, a CMA can be conducted based on a given number of sales or might consider properties sold within a specified proximity to your house. The CMA focuses on aspects like the physical size of the property, the total number of rooms, the number of bedrooms and bathrooms, and other components. There are, however, no fixed rules on how to conduct a CMA. Other features that may be considered include amenities like a swimming pool or a fireplace, the location of the property, proximity to landmarks and significant roadways, recent improvements made, and so forth. Several valuable insights can be gained from recently sold homes and active, pending, and expired listings in a CMA.
41
Powered by FlippingBook