What Is A CRM And Do I Need One?

One of the most powerful tools for determining your home’s value is called a comparative market analysis, or CMA, which is a comprehensive report that uses a plethora of data to compare your home to similar properties nearby. 

A CMA is used to compare your property against recently sold properties nearby to determine a beginning listing price for your home sale. A well-done CMA will consider the features of the comparable properties (called comps), such as square footage, age of the home, location, upgrades, nearby amenities, and other data.

The result is not a hard and fast number, but rather, it should be used as a gauge. Who should get a comparative market analysis?

Home Sellers: CMAs can help you price your home competitively and give you a better idea of your potential net proceeds in a sale. A detailed report provides useful local market information to help set your listing price and create a marketing strategy, including:

• Recent sale prices of comparabple homes in your neighborhood

• How long it takes for similar homes to sell

• What homes sell for compared to their listing prices

• How much value a home’s upgrades add

• A summary of features for sold comparables i.e. square footage, bedrooms, bathrooms, site size

Home Buyers: Learning a home's estimated market value can help you submit a more competitive offer, protect you from offering too much (or too little) on a home, and stay within your spending budget. 

If you’d like to get a free CMA for your home just click the link here and answer a few brief questions