Can a Comparative Market Analysis Help You?

By
Real Estate Agent with RE/MAX Properties, Inc.

Can a Comparative

Market Analysis

Help You?

To get the most accurate estimate of how much you should list your property for, your real estate agent can provide you with a Comparative Market Analysis (CMA). A CMA is an informal estimate of market value, based on sales of comparable properties in your area. It generally takes into account various aspects of your home, including size, features and annual costs. Reviewing compa- rable homes that have sold within the past year, along with the listing or asking price on current homes for sale, should help you determine a fair sale price for your property.

CMAs can include homes that are currently for sale and those which have recently sold. They can cover areas as narrow as one or two streets surround- ing your home, or as broad as an entire subdivision.

Most real estate agents will give you a CMA for free, hoping you'll list your home with them. Each CMA contains valuable information on several recent sales, including:

How long each property stayed on the market

How close the sale price was to the asking price

Notes comparing each home to yours, i.e.; number of bedrooms and baths, approximate square footage, sizes of major rooms, amenities such as fireplaces and pools, age of the home, property taxes and more.

The CMA is an informative selling tool, but like any tool, it doesn't work by itself. For this reason, the CMA will always need to be interpreted by a pro-

fessional or with complete objectivity by the seller or buyer.

Remember, too, that the CMA is also a buying tool; it is consid- ered just as seriously by the buyer and his or her agent. As you and your agent are going to use the CMA to ask the highest possible price for your home, the buyer is going to use it to find reasons to either choose or eliminate your home, and to arrive at the lowest price possible.

Important Questions to Ask an Agent Before Listing Your Home for Sale

Do you have an active real estate license in good standing?

How long have you been licensed as an agent?

Why do you think I should list with you?

What professional designations do you hold?

What party will you represent -- the buyer or the seller?

What services do you offer?

Do you belong to an online homebuyer's search service?

Have you listed or sold in my neighborhood lately?

Jay Carden

or Text 719­322­4939 Jay@TheBroadmoorhomes.com www.thebroadmoorhomes.com

REMAX Properties, Inc

1740 Chapel Hills Drive, Colorado Springs, CO 80920

 

Jay Carden

REMAX Properties, Inc
1740 Chapel Hills Drive, Colorado Springs, CO 80920
or Text 719­322­4939 Jay@TheBroadmoorhomes.com www.thebroadmoorhomes.com 

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Jay Carden, Colorado Springs Realtor
RE/MAX Properties, Inc.

719-322-4939
jay@jaycarden.com

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