What is the purpose of a comparative market analysis CMA?
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What is the purpose of a comparative market analysis CMA?
A comparative market analysis is a crucial tool for estimating the value of real estate. If you’re a homeowner who is interested in listing your property for sale, a CMA will help you determine an appropriate asking price based on what sales prices similar homes in your area have received on the market.
How can I get a comparative market analysis?
Where to Get a Comparative Market Analysis
- Visiting Websites With CMA Information. Some websites, such as realtor.com, offer comparative market information for free.
- Hiring Professional Real Estate Appraiser.
- Going to Open Houses.
Is comparative market analysis accurate?
A Comparative Market Analysis is a great tool for real estate agents to determine a home’s current market value. Although they are often very accurate, it is not a guarantee that your home will sell at the price provided to you in a CMA. The accuracy of the CMA relies heavily on the comps that are chosen.
How do I become a CMA for a buyer?
How to Do a Comparative Market Analysis in 8 Steps
- Gather All the Data You Can About the Subject Property.
- Gather Tax Information.
- Gather Your Subject Property’s Previous Sale / Listing Data.
- Examine the Recent Comparable Sales.
- Examine Comparable Properties Currently for Sale.
How much does a CMA cost?
How much does becoming a CMA cost?
| Total CMA Designation Cost | ||
|---|---|---|
| Membership Type | Membership | Entrance |
| Professional | $230 | $250 |
| Academic | $120 | $188 |
| Student | $39 | $188 |
What does a comparative market analysis show?
A comparative market analysis (CMA) is an estimate of a home’s value used to help sellers set listing prices, and to help buyers make competitive offers. The analysis considers the location, age, size, construction, style, condition, and other factors for the subject property and comparables.
Is CMA accurate?
A CMA evaluates recently sold homes that are similar to yours (often called comps). The CMA will also list a low, median and high price for your home as well as an estimated average number of days on the market. Though a CMA isn’t an exact science, it can get you pretty accurate results of what a good list price is.