If you’re looking to sell your Austin area property, what you will need is help from an Austin Realtor. When discussing with them how they plan on marketing your property, you will be handed a CMA or Comparative Market Analysis. This is an important piece of data which will show you a close estimate to your home’s value. Not only that, this analysis will display who your competitors are which makes it vital piece of the puzzle required to sell Austin real estate. The CMA can be utilized by both parties in the home selling transaction. Yourself and your real estate agent will use it to discover where your home will stand in terms of price versus others that are currently available and those which have been recently sold to get the highest sales price possible. The buyer in some cases will use it to find ways to offer less than what your house is listed for.
There are many facts outlined in the analysis. The purpose of a Comparative Market Analysis is typically to quickly provide a value of real estate. A CMA provides information that in most cases consists of the amount of bathrooms, bedrooms, square footage, how many stories and other items such as lot size, swimming pools, year the house was built and other specific criteria.
The very last part of the CMA consists of a brief statement provided by the agent representing the seller which is typically a balance of cold hard facts and subjective opinion. It will generally cover selling and non-selling points.
If the CMA is attached to the listing and available for public view, it should not list all of the details that have been provided by the listing agent for not only obvious, but privacy reasons.
A comparative market analysis has obvious features of being a great tool in listing and selling Austin real estate. This tool, just like most others, does not work very well alone. It needs a knowledgeable real estate agent to make effective use of it. It also requires a person that can effectively interpret it and can provide an explanation of the data within while maintaining complete objectivity of the buyer or seller.
Also remember that CMA’s are tools used by the home buyer and their agent as well. By utilizing the Comparative Market Analysis, you can come up with the highest list price possible for your house. Just as it’s being used by the seller and their agent, the buyer’s agent can use the CMA in finding reasons why their client should not pay top dollar for the property.
For additional information about CMA’s and how they are used effectively in buying and selling real estate in Austin by sending Forte Properties an email or giving us a call at (512)981-6865. If you’re a home seller in the Austin area, you can also request a free CMA here: Free Comparative Market Analysis