How Do I Get a Comparative Market Analysis? What Does a CMA Cost? – Beragampengetahuan

How is a comparative market analysis put together?

An agent has a lot more tools at their disposal to create a CMA than the average person, which is why trusting this task to a professional is the best option for home sellers. Real estate agents have access to the industry’s multiple listing service (MLS), unlisted properties, tax records, and real-time data. Agents can find far more accurate information compared to what might be posted on public domain listing sites.

“Not all properties get recorded properly through the MLS and get syndicated to other websites,” says Studebaker. “In these cases, it could have dramatic results on a CMA that someone is doing off of other websites that don’t actually have all the data delivered to them.”

The real estate professional will take data from a wide range of sources to put together a comprehensive CMA with real-time information.

What makes up a good comparative market analysis?

These components and more make up a complete CMA to assess the most accurate price point for the home in the current timeframe, including:

• Location
• Date of sale
• Lot size and number of stories
• Number of bedrooms and bathrooms
• Square footage of the comp home
• Age and condition of property
• Special features, like landscaping, parking, foundation, new HVAC, garage, finished basement, fencing, etc.
• Extra features or upgrades like hardscaping, accessibility, curb appeal, pool or hot tub, security system, upgraded finishes like marble, etc.
• Terms of the sale and financing
• Interior photos of comparable sales
• Amenities such as a neighborhood pool, HOA fees, gated community

Studebaker stresses that knowledge of the area is very important for the person who is creating the CMA because of factors that go into creating it that may not be apparent from a photo.

“A house could be on a busy road, or on a golf course, and if you put those two into an analysis together, you’re going to have a very, very different result because golf course homes sell for more money than homes that are against busy roads, freeways, or something of that nature,” he explains.

“Someone with boots on the ground can also do a micro analysis of what your home is worth based on the fit and finishes inside of your home, as well as the outside condition and how it compares with other properties in the neighborhood,” says Studebaker.

In the current shifting market, this kind of first-hand analysis can provide crucial information to a seller facing big decisions.

How do I get a comparative market analysis?

For the most part, a CMA is not needed unless you are getting ready to sell a home, in which case, you will already be engaging with a real estate professional in your area. When you are working with a top agent already, they often provide CMAs as part of their service to the home seller since a CMA is an indispensable tool in determining a fitting listing price for the home.

How much does a comparative market analysis cost?

Some agents charge $100 to $200 for a CMA, but others provide them free to clients who will be using their services to sell their homes. Many agents advertise free CMAs as part of their marketing and will even include CMAs when they mail out fliers to certain subdivisions to drum up business, especially in a hot market.

Are CMAs always accurate?

As noted, a CMA is not a hard and fast number that every agent would arrive at, like an algebra equation, but rather is more of a range. This can make it seem like the CMA is inaccurate or contains errors. Mistakes, of course, can be made, especially if the seller is using an inexperienced or part-time agent. But many experienced agents pride themselves on the accuracy of their CMAs, and they have a track record to support their value estimates.

Studebaker says that you can always get a second opinion from another beragampengetahuan®. “Most consumers know very close to what their home is worth based upon what they see going on, so we have a very educated consumer now thanks to the free [home value estimator] websites,” says Studebaker.

Some factors can cause a CMA to be inaccurate or not reflected to the fullest extent:

• Poorly selected comps
• Homes that don’t show similar features or upgrades
• Lack of listing data
• Undisclosed undesirable features nearby, such as a busy or noisy highway