What is a CMA?

Before they even open their doors, smart retailers determine their pricing strategies by studying their competition. If you're thinking of selling your property, you can benefit from the same sort of study--a comparative market analysis (CMA).

In addition to determining information about the appropriate listing price for your property, a CMA will give you other important information about the current real estate market, recent sales in your neighborhood, your home's competition, how long it may take to sell, your home's probable sales price, and an estimate of your net proceeds. This information will enable your real estate professional to create an effective marketing plan for your property.

A comparative market analysis establishes an appropriate listing price range for your home by analyzing recently sold homes that are similar to yours. Adjustments are made for the similarities and differences between these comparables and your home in terms of location, finished square footage, number of bedrooms and baths, age, condition, quality of construction, and extra features.

After analyzing all these factors, including your motivation for selling, you and your real estate professional can determine an appropriate listing price for your home. It's very important that you list your home with an accurate price right from the beginning. Generally, most of the best and highest offers come during the first few weeks when a home is viewed by the most potential buyers.

If you're thinking of selling and would like to have a CMA prepared for your property, please call me.