Do You Know the Value of Your Home? Your Guide to a Comparative Market Analysis

This is a great time to consider selling your home but do you know what it’s worth? A home’s price is a moving target subject to countless variables, including when it’s listed for sale, whether it has that trendy open kitchen, etc. The easiest way to determine your home’s value is by getting a Comparative Market Analysis from a professional real estate agent. For those of you unfamiliar with this useful tool, this blog will look at what a Comparative Market Analysis, or CMA for short, is and how a homeowner can effectively use it when selling their home.

What is a CMA?

A CMA is an analytical tool that realtors use to determine a home’s resell value by examining the prices that similar properties in a given area recently sold for. Since no two properties are identical, agents adjust for the differences between the sold properties and properties where purchase is pending or listed to determine a fair offer or sale price.

Pros and Cons of a CMA.

While the comparative market analysis is not an official appraisal, real estate agents use a great deal of similar methods that a professional appraiser would use to arrive at a reasonable value for the property. By far one of the greatest benefits of a CMA is that most realtors will offer this to a homeowner as a complimentary service. Furthermore, comparing CMAs is a great way to find the agent you want to work with.

The only drawback to a CMA is its dependence on similar properties for an effective comparison. If your home is so unique that there are no comparable properties can be found, it may be in your best interest to hire a formal appraiser to value your property.

How to Get Your CMA?

Getting your CMA is easier than ever. In no time at all, one of our professional real agents will contact you with your home’s CMA along with additional insight to help you sell your home more quickly.

Whether you’re actively looking to sell a property or are simply planning for the future, CENTURY 21 Prime South is here to help. Using the latest technology and most innovative strategies, we guarantee that our friendly staff and real estate professionals will get you the most amount of money for your house.

Give us a call at 423-821-5551 or stop by our office today.