A CMA, also known as a Comparative Market Analysis, is an estimate of a home’s current market value based on the sale prices of other, comparable homes in a given radius.
An accurate CMA can be extremely helpful in setting a realistic market value. Any licensed real estate agent can pull a CMA for you.
Watch out for real estate agents that attempt to manipulate the CMA.
For example, if an agent wants to, they can use nearby neighborhoods that are selling for more. The agent can also include homes that he knows have more expensive features that yours does not. This shady tactic is known as “buying a listing.”
Most agents are honest, but there are some who will promise you the moon and stars in order to get you to list with them. They know that your house will never sell for that much and that no bank is going to grant a loan based on inflated values.
In the end, you will have to lower the price and that can mean waiting a long time to sell. They, however, have your signed listing agreement and when your home finally does sell (after you have had to lower the price), they will still get their commission.
If you are selling your home and need a CMA, we can pull one for you. As a flat fee broker, we do not work on commission. Our CMA’s are as unbiased and accurate as possible.
Once you’ve agreed to an acceptable price, we list your home on the very same MLS (Multiple Listing Service) as any other traditional real estate agent for an upfront fee.