Comparative Market Analysis
Maximizing Market Value
Preparing a Comparative Market Analysis (CMA) is an important tool HomeLife Higher Standards Sales Representatives use to help you earn the highest possible price for your home. A CMA involves looking at the public records of Real Estate Business in your community to better understand market conditions.
There are four steps your HomeLife Sales Representative will take in preparing your home's CMA:
- Your HomeLife Sales Representative will consider the amount paid for at least three recently sold homes in your community.
- These homes will be comparable in size to yours and together comprise a factual record of what buyers will pay.
- Your HomeLife Sales Representative will then consider the asking prices of at least three presently listed homes in your community.
- Because these homes are similar to yours, these homes will be the benchmarks against which your home will be priced.
- Your HomeLife Sales Representative will then consider the asking prices of at least three homes in your community that went unsold for at least 90 days.
- Similar to your home, these homes illustrate the dangers of overpricing your property.
>> Continue on to... The Pricing Pyramid