So you’re selling your home...but for how much?
As part of the listing process, many agents prepare a Comparative Market Analysis (CMA) to help establish a realistic price range for your home. A CMA is basically a written report on your home that contains property profiles of homes in the area which compare closely to yours. The report will often include information on homes currently listed for sale, recently sold properties and properties which did not sell during the listing period. Certain amenities, additions and/or improvements in the homes are also considered.
The key to remember about a CMA is that if properly researched, it will give you the hard numbers necessary to reach a realistic pricing decision. The price range you get from an agent using a CMA may well be lower than what you get from agents who don't use one. But when a CMA is used to determine the asking price of a home, the final sale price is usually closer to the CMA price, than a price determined without the use of a CMA. This can be an important benefit because a properly priced home will usually sell faster.
In addition, once a CMA has been done and provided you with the current selling prices in your neighbourhood and a price range for your listing, it can also be used in conjunction with an estimate of the selling costs to give you a reasonably accurate estimate of the remaining proceeds. This will help provide you with some comfort and peace of mind as you look toward investing in your new home.
If you have any further questions about CMA’s please feel free to call or email me directly for more information.
Readers can also order a free copy of any of our Special Seller Reports on “Finding the Right Sellers Agent”, “Seller Mistakes”, “Seller Open Houses”, or “Selling Tips”.
Domenic Mirabelli
416.303.4480
domenic.mirabelli@migroup.ca
"Helping you find a mortgage...and peace of mind"
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