If you’re thinking about selling your home in North Florida, you’ve probably heard all about CMAs – but what is a CMA, and do you need one?
What is a CMA in Real Estate?
A comparative market analysis, which is commonly called a CMA, is a detailed report put together by a real estate professional before you put your home on the market.
A CMA will help you determine how much your home is worth and what buyers may be willing to pay for it.
Think of it this way: it’s like having your personal Kelley Blue Book for your home.
Do You Need a CMA?
Everyone who is selling a home in North Florida needs a comparative market analysis. It provides you with essential information.
If you price your home too low because you didn’t have a CMA, you’re leaving money on the table. On the other end of the spectrum, if you price it too high, nobody will buy it; the listing will become stale, and even if you lower the price, potential buyers may think there’s something wrong with the home because it’s been on the market so long.
How Does a Realtor® Prepare a Comparative Market Analysis?
Your Realtor will walk through your home with you to see how much space you have and what types of rooms you have. Your home doesn’t have to be in perfect condition at this stage – the Realtor is just trying to get an accurate picture of what your home has so he can compare it to other, similar homes in the area.
Once he’s walked through your home, your Realtor will begin searching through information about comparable properties in the area. He’ll look at properties that have sold within the last year, active listings and pending sales; he’ll also look at expired listings, because those can give valuable clues about what doesn’t sell in your market.
Are You Selling Your Home in North Florida?
If you’re selling your home in North Florida, we can help you find out what it’s worth. Get your free CMA here!
