Creating your properties Comparative Market Analysis (CMA).
A properly prepared CMA gives the seller a useful measure of the market and a prediction of what buyer’s will most likely be willing to pay for their home. Below you will see the steps we take to ensure our sellers Top Dollar from the sale of their property.
The current market trends: We take a look at the general area with 4 monthly reports and in some cases a few weekly reports to see what has been selling and for what prices. Has the number of homes SOLD gone up or down over that time? Have the prices increased or decreased?
Your property Information: We look at past sales history in the MLS to see your the property characteristics. We then look at the County Tax information to find zoning and assessment info and other important data points.
Finding Comparable Properties: We find past SOLD homes in a surrounding area of like-kind properties. We restrict the search within reason with ranges for size, age, amenities, and price. This search starts with 15 to 24 properties which is reduces to 8-12 units. Then we select the best 4 properties we can use to show a Perceived Market Value for your property.
Needed support MLS information: To get a better picture of how the market will accept your property, we do 3 searches of the past 60 days in a larger area. We pull up are the active properties, your competition; the SOLD/Closed properties showing what people are willing to pay; and the Pending properties which are the most recent sales.
Disclosure and transparency: In today’s world, buyers expect instant and complete information. Disclose everything you can about your property. Copy of the inspection, receipts from contractors or materials used to make repairs, and anything else that might answer a buyer’s question. Answer all of the buyer’s questions before the leave the property.
Strategic list price: Use your list price as a strategy to lure buyers to your property. Take into account the market trends and the preparation and presentation of your property. Then we can pick the best strategy to generate the most exposure to the buyer pool and the highest offers.
Final SOLD Price: Your REALTOR’s® experience, strategy, guidance, and negotiation skills are key to generating Top Dollar. Preparation and presentation of your property are in line to the final SOLD price for your property. In most markets, house flippers set the bar. Complete a whole house inspection and make the needed repairs. Make any obvious upgrades and give detailed attention to the landscaping and the exterior.
Why do we go to great lengths for our clients? It’s what we do! Not all sellers what top dollar, but most sellers want the most for their property in the condition and presentation they decide to offer. The effort is the same for us on every property. Remember, the list price is a strategy, and the SOLD price will always be affected by the brokers experience.
Not all agents are REALTORS®. We are held to a higher standard. Beyond the education, we are held accountable to the Code of Ethics. Always ask, “Are you a REALTOR®?”
Tom Perry – REX2020.com
Realty Executives Brio
REALTOR® since 1988