A Comparative Market Analysis (CMA) is a report that help sellers choose a listing price and buyers to make competitive offers on a given home.

The data used in a CMA is based on information listed in our Multiple Listing Service. By utilizing this data, real estate agents are able to detail specific information to compare homes. It is not just about age, square feet, and bedrooms. It is also about the other amenities that are generally not readily available on other sources such as Trulia or Zillow.  There is a section on the MLS where listing agents post information that only a real estate agent has access to and in many cases is relevant to how the CMA is prepared.

The result is a report that tells you which homes have recently sold, their selling prices, how long they were on the market and other information. The CMA will also tell you about homes in competition with yours that are similar in size, price, amenities, and location.

Based on this information, a buyer or seller will get a snapshot of the current real estate market and how best to proceed.

About Linda Urbick Linda

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Filed under: General RE Tips

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