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Nov 10, 2023 · Obtain the sales price of the property. Obtain the total square footage of the property. Divide the sale price by the total square footage. This gives you a benchmark to compare properties and helps in determining a price range for the subject property. Further reading: 70% Rule Calculator.
- Gather All the Data You Can About the Subject Property. If you want to get an accurate value of a listing, you’re going to have to learn as much as you possibly can about that listing.
- Gather Tax Information. The next step to writing a killer CMA is gathering local tax information. This is important for a couple of reasons. The first is that all property taxes are not created equal.
- Gather Your Subject Property’s Previous Sale / Listing Data. I once asked an appraiser what the most important factor she considered was when determining the market value of a house.
- Examine the Recent Comparable Sales. Second only to understanding your own property, understanding recent comparable sales (homes similar to your subject property that have recently sold) is the next most important part of any comparative market analysis.
Sep 23, 2023 · Sometimes realtors use CMAs when representing buyers. A CMA can help justify a low offer when a buyer feels a home is priced above market value. It can also help buyers determine a competitive offer. A listing agent can also use a CMA to persuade an appraiser to re-evaluate their findings when the appraisal values a property below the contract ...
Jul 30, 2021 · Level Up Your Team. See why leading organizations rely on MasterClass for learning & development. While real estate agents typically prepare a comparative market analysis report for their clients, home sellers on a budget can save money by learning how to perform their own CMA using a spreadsheet and available public data.
Jan 21, 2023 · A comparative market analysis (CMA) provides an estimate of a property's value based on comparable properties that have sold in the area. The analysis considers multiple factors including the property's location, square footage, features, lot size, number of bedrooms and bathrooms, age, and condition. Real estate agents use CMA reports to help ...
Oct 27, 2021 · Agents may use a comparative market analysis (CMA) to evaluate the value of a prospective listing to other properties in the same market. This is accomplished by looking at listing prices, community characteristics, school zones, and other factors. CMAs should be used by all agents when developing a real estate marketing strategy, setting ...
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Oct 23, 2020 · Step 5: Present Your Findings. The final step in completing a CMA is to present your findings. You can do this in a few different ways: Save your CMA Workbook as a PDF to email your clients. Save your CMA Workbook as a PDF to present to your clients on your computer or tablet during your meeting.
