What Is Comparative Market Analysis?
Realtors do a comparative market analysis to determine which similar properties in the same location that had recently sold. The real estate agents prepare a CMA with the best CMA software to help their clients find the best price when selling their home, and the best price when buying a home. Keep reading to learn more about the CMA and the CMA software used to make it the best they can. Realtors use this to gain their client’s trust and to help them sell their home or showing someone who may want to buy.
Once the realtor is done with the following, she can use CMA tools to show what she has done. She can also create CMA reports to show her clients everything they need to know. Using her real estate software will help her get everything done to perfection.
Steps In Creating A Comparative Analysis
The first step in creating a comparative market analysis is to check the quality of the neighborhoods the properties are in as well as the surrounding neighborhoods. There is one CMA software you can use to determine the quality of these different neighborhoods and it works well. You probably already know what it is, right? Google Street View.
You can use Google Street View to check the nice blocks of the neighborhoods against the bad blocks of the neighborhoods. You can also use it to check if there are any amenities that are close to the neighborhoods including parks, schools, and beaches. You will also want to check if any ugly features such as the garbage woman, dumpsters, and highways.
Access The Original Listing If You Can
Once you find videos on this, you will find it is true. Read, write, watch, repeat. You should review photos of the property online, as well as the description so you can start visualizing it.
Check The Property Value Estimates
A value estimate on a property can help you determine what your client should sell their home for and what the client should buy from.
Create A Preliminary CMA
Come up with a rough idea of the value of the home by studying sold listings, active listings expired listings and pending listings. These should be compared to the home’s features, amenities, and the size of the property.
Get An Average Cost Of the Real Estate Listings
This is when you need to determine the average cost of the real estate listings. After you get the average cost, you will then understand what is selling and what is not and why.
Check The Home In Person
Checking the home, its property, and anything else you may be able to get for them is the best thing you can do for your client.
Check The Home in person
You will want to get a feel of everything that comes with it.
Back in 2016, the rate of homeownership crashed and was at its lowest rate within the past 50 years.
Did you know, that every home in the United States together is worth $31.8 trillion?
About 19 percent of homes that were sold in 2016 were bought for investment properties.Share This : by