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The Comparative Market Analysis

By: Adeal Benhayoun

When preparing for the sale of your home, one of the most useful tools in the repertoire of the real estate agent is the CMA. A comparative market analysis. This is the best way to approximate the selling price of your home, and is dependant on several factors. A typical CMA will begin by looking at homes that have been sold in your area in the past months. Many aspects of these sales are carefully evaluated such as the closing price, improvements that were made, number of rooms, bathrooms, square footage and property size. Also considered are comparable homes that are currently listed in your area. In doing this, it allows your agent to price your home competitively in the market so that it will garner the attention that it deserves.

In pricing your home it is always a good idea to defer to someone who is not emotionally attached to the home in question. The value that you associate with your home is based in a worth that cannot be easily translated into a number. You have years of memories and history in your home that to you is no doubt, priceless. A good agent will realize this fact, but will also be able to look at your home with a sense of detachment that you will not be able to achieve. One of the major downfalls of homes priced by the owners is that they are priced too high. Homes that are priced out of their appropriate market tend to sell much slower than homes that have been priced correctly. Remember, it is vital to utilize the services of a professional Realtor in order to ensure that your home is properly priced so that it can sell quickly and without issue.

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Adeal is a member of the REW Writers Team. A collective publication network facilitated by Real Estate Webmasters. Each article is contributed by a member of our real estate community. This particular article was submitted on behalf of Adeal Benhayoun, your choice for Austin Texas Real Estate.