CMAs – Comparative Market Analysis For Sellers
CMA’s – Comparative Market Analysis for Sellers. This is an article written by Elizabeth previously, for another website. She breaks this term down beautifully for a reader. I notice lots of agents say “CMA” when talking with clients. This sounds as though everyone understands our slang terminology. You will understand what a CMA is about after you read this article,
Enjoy, — JaCi
“I don’t always prepare a full-blown CMA package for listing presentations. Sometimes, the seller already has a handle on the market and knows what is for sale and which homes have sold. Besides, for sophisticated sellers, they really don’t need to read all that miscellaneous data that often accompanies CMAs. For them, I print out a portrait CMA that shows the last six months of activity, including current inventory, days on market and median prices. Print and go.
Because that’s what lots of sellers want to know, coupled with how much extra value they believe that new roof should bring. For sellers who want a clear a picture of the trends in their market, it is the pending sales that predict which way the market is moving.
Sometimes the comparable sales are too old because the market is moving too quickly. And active listings are important only to the extent that they present competition. Not to mention, those prices can be all over the board and meaningless, regardless of how often a seller may point to the neighbor’s McMansion and want to list at a higher price for their 1,000 square-foot bungalow.
What Is a Comparative Market Analysis?
Although reports can vary, from a two-page list of comparable home sales to a 50-page comprehensive guide, the length and complexity of the report depends on the agent’s business practice. However, standard comparative market analysis reports tend to contain the following data:
Off-Market / Withdrawn / Canceled: “
— Elizabeth Weintraub