Comparative market analysis is an essential part of every real estate agent’s job. It is used to determine the value of a property through comparison to similar property transactions located within a certain radius. A CMA will accurately establish a sale price. It will also guide buyers in deciding on a fair offer.
As agents, we know that conducting a thorough and professional CMA is critical to minimizing time on the market as well as ensuring that our clients receive or make an offer that is fair and reasonable.
MARKET EVALUATION MADE EASY
Every agent knows that a working knowledge of the area in which a property is listed gives the agent and his clients a distinct advantage. A market evaluation will determine the value of properties in the neighborhood based on recent sales, but it is also partly subjective.
The true value of any property is ultimately determined by how much a buyer is willing to pay for it, and each buyer sees each property differently. A good agent will be able to glean the pertinent information from a market analysis and apply it to a particular property.