If you are selling your home you may need to get started with a free valuation of a property. But what exactly is a CMA? Well when you meet with an estate agent, they will use a method called CMA or comparative market analysis.
Comparative market analysis or CMA
A CMA is a method that determines the accurate market values by comparing other similar property that have recently sold in your area. Your estate agent will refer to this as ‘comparables’ and would take the some of the following into account:
- Considering what other houses, similar in size to yours, have sold for in the last 6 months.
- This will provide an average price per square meter for the homes in your area that have sold within the last 6 months.
Solid base price?
The CMA effectively provides your estate agent with a solid price base that is used to determine a reasonable asking price for your property. There are also other factors that will affect the valuation which you need to consider, such as:
- Demand for property in your area.
- The condition of your property. Has your property been well maintained?
- Size of your stand and the size of your home.
- The elevation of your property (does it have a view, does it have a nice garden to look out onto?
- How old is your home? Has the kitchen been modernised? Remember kitchens can sell a home. How modern is your bathroom because bathrooms impress.
- How secure is your area? More specifically how secure is your home?
- Have you made some modern, cosmetic changes such as modern flooring? Perhaps you have added a fireplace? Or you may have revamped your light fittings? Have you invested in a fresh coat of paint recently? We cover a range of articles to help you make the most of each room in your house. We cover the general benefits of home staging, luxurious master bedrooms and making the most of creating a trendy small home office
Why all the fuss?
When potential buyers come to view your property, they will be shopping with their eyes, their ears, and their hearts. If your home has recently been updated, they will see it. Is your home is neat, clean and has been well maintained, then the commercial appeal of your home will appeal to a much wider audience. So, all the fuss could very well help you command a higher asking price.
What’s my house worth?
EA Connections simplifies the process to connect with leading estate agencies brands that have the best agents in your area. We connect you to these top agencies in minutes. Your estate agent will assist you to determine the best asking price for your property. The CMA will be used to do a comparison of the properties that have sold in your area in the last 6 months. Also, your estate agent will assess what properties are on the market at the time of doing the valuation. An average price will also be determined here. But, remember there is a big difference between the asking price and the sales price. Also, the factors we discussed above will also be taken into consideration, such as:
- The general condition of your property.
- Its size.
- The special viewpoints (what made you fall in love with your property)?
- The size and condition of your garden.
- How modern are the bathrooms and kitchen?
- What security features should be considered?
- Have you undertaken any renovations such as flooring, adding a fireplace, etc?
All these factors could well lead to a better asking price
Combined, all these factors work together to influence what the asking price will be. And, the quality of your home and the attention you have paid to it, will go a long way to getting you a good selling price. Remember a home that has been well maintained will need less work which equals less cost to a new buyer. And a property that looks good competes with all the other properties in your area. Remember you will want to sell fast and for the best possible price.
How can we help you?
EA Connections is all about helping you our valued homeowner connect with the very best real estate companies in your suburb. We have worked with our business partners for a long time and we know why they are good. We know their service ethic and we know their business offering and more importantly, we know what service you will receive. Every single one of our business partners will work hard for the right to sell your home.
Team up to win
Remember we are not sending you a total stranger. Remember, you can expect to meet with a well-known, respected house sales agent that has a proven track record that we have already worked with. Submit your details online and we will call you back within minutes to discuss what you need and what you are looking for. The very best agent in your area will contact you before the day is done to set up an appointment to do your free property valuation. Remember we are here to help you sell your property fast and for the best price possible. Click here to visit our site and submit your details. Finally, what we do makes it fast to connect, it’s also free and it’s very convenient.