Explore how the combination of factual data in a CMA and the guidance of an experienced Realtor can help you sell your home at the most competitive price.
You may come to the table with an idea of what your home is worth but in the case of your home sale, beauty (and value) is in the eye of the potential buyer. Are your custom renovations as desirable as you once thought? Are buyers looking for the same features that caused you to fall in love with your home?
While these are questions with subjective answers, a Comparative Market Analysis (CMA) is an objective tool that helps you and your Realtor® put a finger on the pulse of your local real estate market. It examines current listings and those recently sold to determine the highest and most competitive price for your home.
CMAs present a factual portrait of a home, including square footage, number and size of rooms, age of the home, estimated property taxes and attractive amenities like fireplaces and waterfront lots. Some reports will retrieve information from as long a year ago and others as recent as one month or week. The targeted area of comparison can also vary - covering as narrow as one or two streets surrounding your home or as broad as an entire subdivision.
Selling a home isn't just about the facts - home purchases are fundamentally personal. Real estate sales, especially in the luxury market, are primarily emotional decisions. Buyers make their choices based on curb appeal, design choices, location and a host of other variables.
It’s fitting the objective and subjective pieces together that creates a successful home sale for both seller and buyer. Listing agents have the opportunity to market a home’s subjective beauty and value in the remarks of a CMA. Subjective factors, often awarded no value, include recent remodels, historic features and premium finishes that are attractive to buyers.
Technology is changing the face of today’s CMA. Buyers and sellers research their local real estate market online before contacting a professional Realtor®. This can be helpful but it’s critical that to acknowledge the experience and exclusive resources that most agents possess. A local expert will know what buyers in the area look for and be able to assess how your home measures up. Together, you and your Realtor® can determine a competitive price that sells your home quickly.
Want to know what your home is worth? Call/email/text The LizLuke Team today! 703.868.5676 | firstname.lastname@example.org