The application of the pricing structure in Comparative Market Analysis (CMA) by real estate agents establishes an appropriate price range on new listings. The formulation of market listing price in the real estate market considers both aggregate median housing price indexes, as well as local market features to price found in active, pending, sold, and also expired listings. CMA reports are an essential method that real estate agents use to decipher competitive pricing for your property. Therefore your CMA is extremely important and oftentimes the first step in the official home sale process.
Impact of Your CMA
The CMA price instrument also has market impact. The publication of CMA by listing agents influences the continuum of a regional, city, or neighborhood market. Property owners have some say in the listing price, so the range seen by potential buyers is not solely technical. Instead of assigning a fixed price to a listing, the CMA extends the value for negotiation.
Competitive real estate marketing begins with pricing. The CMA report includes median housing prices in valuation. For sellers, the CMA supports ranging response to market fluctuation for maximum return on investment. Calibration of the CMA price listing may also have effect on refinancing consideration.
Preparation of the CMA Report
The real estate agent’s preparation of a CMA presentation starts with data collection. Agents procure information about a property from the top down. Access to the Multiple Listing System (MLS) and county property title records informs the next stage in the analysis of targeted property listings. The comparison of property valuation data offers insight into the direction of the market, the potential for near future increases, and the price bracket of a property about to be listed.
The CMA also lays the foundation for negotiations with potential buyers. All data included in the presentation must support seller outcomes. Real estate agents following industry convention in CMA presentation the most likely to see results. Precision in price indexing, as well as representation of other key features to a property is essential to securing buyer interest.
Selection of an Agent
Property owners selecting a listing agent are often driven by CMA presentation and you should use this opportunity to choose the best agent for your property. Expert CMA reporting will often influence the decision by a homeowner or commercial property seller to sign on with an agent.
CMA Benefits for Property Owners
Charleston, SC new property listings are enhanced with CMA reporting. Property owners benefit from CMA presentation. Request a Comparative Market Analysis from a property agent before listing. CMA is value added.
For more information about selling your home or property in and around the Charleston area, please don’t hesitate to contact us.