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CMA's for Buyers?

By
Services for Real Estate Pros with Gateway Holding and Referral Company

I'm just beginning my 3rd year as a REALTOR, and sometimes I still feel like a rookie.  Well not today! 

During our sales meeting there was discussion of appraisals vs. cma's.  Of course it's always an ongoing tug of war . . .the appraisers and agents having different opinions on determining property value.  Our broker asked the question, "How many of you do CMA's for your clients?"  Because of my "rookie" status I usually try to keep quiet and just listen, but before I could stop myself I blurted out, "oh, I always do a cma for my buyers." 

Silly me, she meant for sellers.  Everyone quit talking and looked at me.  She said, "you do a cma for your buyers?  All of your buyers?" 

"Yes, when a buyer is ready to make an offer on a property, I do a cma for them."

"Hmmm." was the response.

I didn't know any better.  I thought that was part of my job.  Is it not?   

 

Posted by

Stacie Colclasure

Real advice. Real answers. It's Real Estate simplified. Helping buyers and sellers negotiate and manage their real estate transaction successfully.  

For real estate help in the Bethalto, Wood River, Alton, Godfrey, Edwardsville areas email Stacie at stacie@mybethaltohome.com

Comments (7)

June Tassillo
Owner/Broker RE/MAX Elite Realty - Franklin, NC
Let me help you with the next phase of your life!

I ask them if they would like one but most of them say no.  I agree with you, it is part of our job.

Apr 07, 2009 09:15 AM
Dianne Deming
RE/MAX Realty Group - Rehoboth Beach, DE

Yes.  I absolutely do a cma for my buyers, unless it's a dual agency situation.  But I tell them when I first meet them that if they want a cma on a property for which I am serving as dual agent, they need to remember to ask me for one, and then I can run it.  How else is a buyer to know what a reasonable offer would be?  Especially in this market--list price often has little to do with market value.

Apr 08, 2009 08:08 AM
Stacie Colclasure
Gateway Holding and Referral Company - Bethalto, IL
Realtor, Bethalto, IL

June- I can't imagine why a buyer wouldn't want a cma before they make an offer.

Dianne - You are so right.  This market is definitely not the same as it used to be.  And the buyers I've had lately want to see the proof in the list price.

Apr 08, 2009 02:53 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Stacie:  YES!  It's a part of your job.  How else can you counsel to offer price without educating buyers with a CMA.  Good for you for doing it!

Apr 10, 2009 06:35 AM
Jay Williams
Greenville, NC - Greenville, NC
Mortgage Loan Officer - Getting You The Right Loan

Stacie, I think it is a brilliant value added service and am surprised it is not done routinely. Good for you.

Jay

Apr 10, 2009 03:06 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Stacie - Yes... I absolutely agree that as a buyer's agent part of the job is to perform a CMA or at least to pull comparable sales.  There are too many overpriced properties out there.  By providing active guidance to your buyers, you are adding value.  So, rookie go to the head of the class.

May 11, 2009 09:30 AM
Stacie Colclasure
Gateway Holding and Referral Company - Bethalto, IL
Realtor, Bethalto, IL

Awww, thanks Ryan!

May 12, 2009 02:21 PM