What is a CMA and Why Do You Need One?
CMA is real estate shorthand for “Comparative Market Analysis”. A CMA is a report prepared by a real estate broker providing data comparing your property to similar properties in the marketplace.
The first thing a broker will need to do to provide you with a CMA is to inspect your property. He will take notes of the many characteristics of your home including the type of flooring per room and their state, windows types, age and state, the roof, if the basement is finished or not and to which extent, number of bedrooms, dining room, fence, landscaping, parking spaces, garden shed, etc. Generally, the house does not need to be totally cleaned up and ready for an open house. But it should be in such a condition that the broker will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the broker at this time.
The next step is for the broker to obtain data on comparable properties recently sold in your area. Then he will put all this information into Signature immobilière’s unique and powerful computer program, updated every month with the latest data, to better assess the value of your home. This will give the broker an idea how much your property is worth in the current market.
To further complete his evaluation, your broker will have to survey properties actually for sale in your area in order to strategically position your home on the market.
The CMA process takes place before your home is listed for sale. No guesswork, only facts and expert marketing judgment are taken into consideration.