WHAT IS A CMA?
A Comparative Market Analysis (CMA) is a report provided by a Real Estate Agent that tells you what they think your home will sell for on the open market. It should also include a Marketing plan that outlines the agents approach to promoting your property to potential buyers.
Your agent will prepare a CMA for your home based on the most current housing market information. The CMA will show you current listings, recent sales and expired listings (useful to check, because expired listings often indicate a house that was either overpriced or poorly marketed).
Together, you and your agent will establish a competitive list price for your home based on the following:
- Community amenities
- Financing options
- Housing market conditions (Is it a buyer’s or a seller’s market?)
Once you’ve achieved a realistic sale price (along with a wise marketing strategy prepared by your agent), you can expect to sell your home for the best possible price in the least amount of time.