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The Importance of a good CMA
I attended a class at my office yesterday on CMA's. I have been to a couple of different classes on this subject but felt that a reminder would not hurt.
It was taught by a very experienced agent who is also a licensed appraiser.
I was reminded about the importance of the CMA when both listing a property and helping a buyer decide on what price to offer.
Some of the things shared were what is a CMA not. It is not the average price per square foot for the neighborhood. It is not the tax appraisal amount. It is the value that you calculate based on all the plus and minus features of the subject property compared to other similar properties that have sold in the area.
She shared a scenario where a buyer's agent brought a low offer. Using her CMA evidence she was able(with the clients permission) to share why the counter offer was fair and to get the contract agreed.
If you do not know how to do a full CMA I suggest you talk to your broker or mentor and ask for training.
This is a skill that can benefit all your clients, buyers and sellers.
Sue
 
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