Many people have heard of the concept of Competitive Market Analysis, or CMA, but often when it comes time to use them effectively, they ignore some of the essentials, etc., of using them to their best advantage. Great real estate agents, they realize that they can adequately and effectively assist and assist their clients, when / if they use their professional knowledge, experiences and experience, to create a general mindset, for their clients, to recognize and accept , a higher degree of reality, and using one of the main real estate adages for your best advantage, Put a price on your house, right from the start! With that in mind, this article will briefly attempt to consider, examine, review and discuss, 5 key considerations, to make these work, more effectively, for the owner, and what it entails, effectively, professionally, creating a significant CMA.
1. Thoroughly / objectively consider / examine, the house and property in question: Many homeowners develop an emotional bond with their homes and therefore overvalue what they believe, qualified and potential prospective buyers might believe. A professional real estate agent will thoroughly and objectively examine what we refer to as the property in question (your home) and examine its strengths, weaknesses, and how they relate to the area, market, and current times. and recent past.
two. Strengths and weaknesses: How strong are the house’s strengths and how weak are its weaknesses? How could these affect the sale price? What does this house offer, maybe others not, and what does it lack? Is there a way to accentuate all the strengths, minimizing, as much as possible, each and every area of ​​potential weakness?
3. Rental: Rent, rent, rent. This fundamental concept, and the reality of real estate, is a factor that cannot be changed! What could make the area, neighborhood, block, etc. in particular offer potential buyers looking for? On the other hand, are there ways to hamper the potential market?
Four. Recent comparable property / home sales: When examining past sales, it is important to pay much more attention to the near past (last 3-6 months) than to going back further. What did these houses have that yours didn’t? What does yours have that they don’t? Be sure to only look at similar areas, house styles, sizes, etc. very similar when you look at these!
5. Currently on the market: Take a careful look at what’s currently on the local real estate market. Develop a realistic and well-considered price range and price for your home to sell, right from the start, by setting the price, right from the start! Compare with those, in similar locations, same conditions, sizes, lot sizes, etc.
Hire an agent, who will carefully explain why they suggest pricing, at a specific price, and their overall marketing / sales plan. Never take a shortcut, if you do it right, it will make a significant difference in achieving your goals.
