Understanding A Comparative Market Analysis
Rose Real Estate understands that it is a big decision to begin the process of marketing your property. After all, it is more than just an investment – it is your home. The purpose of a Comparative Market Analysis (CMA) is to help you develop an unbiased idea of what your property is currently worth on the open market. Many potential sellers will see the sales prices and time on the market from other homes in their area, and this provides a solid foundation. What your Realtor will do is prepare a *CMA that is an in-depth version of any research you may have done on your own. Our goal is provide a fair market evaluation of how your home will perform against those currently listed and recently sold. The net result for you will be the highest listing price while still remaining competitive on the open market.
Face the Facts:
The primary goal of a CMA is to paint a fact-based portrait of the property including information such as bedrooms, bathroom, square footage, layout and major rooms, property age and major amenities. The CMA will compare all of these factors, as well as the location and neighborhood of the property, against similar properties that are currently listed and recently sold in the area. A Realtor’s access to Multiple Listing Services provides unparalleled access to the data required to do this study.
The time-frame of the study is just as important as the factual information of the subject property. In a good market like Austin, your Realtor will likely have enough sold comparisons within the past 60-90 days to paint an accurate picture. If the CMA is covering larger acreage such as farms or ranches, the range of comparison will likely stretch further back to ensure there is enough data to provide a strong CMA.
Presenting the Intangibles:
Pricing and marketing a property is certainly about more than just the facts. As much as there is data available to compare and price to the market, there is also a range of intangibles that have to be considered. Real estate is inherently a personal matter for many buyers, and factors such as curb appeal, lighting, design choices and landscaping are important. You should work with your Realtor to identify these intangibles for your own home, and get his or her opinion on how they may affect showings, marketing material and potential offers. Subjective factors like remodels, historic value and land siting will need to be considered in how your Realtor markets your property. For example, a ranch-style home with west facing windows will offer sunset views that many buyers will prefer. Your listing agent might use this information in their conversations and include representative pictures in the listing and marketing information.
Please start by filling out the form below to allow us an introduction to your property. As a first step, an agent from our office will be in touch and get to hear more about your property and your specific needs. Rose Real Estate is happy to provide a CMA to help you understand the current value of your property. We will then work through the rest of the selling process – seller disclosures and other form agreements, regulatory concerns, property listing, marketing and syndication, showings, negotiation and ultimately closing.
Contact us today by filling out the form below, and we’ll get started!