So you’re ready to sell and you started interviewing Orlando real estate agents. An experienced listing agent will show up to the interview with a document known as a CMA or [comparative market analysis] to show you that they’ve already started working for you. The CMA will show you in black and white what competition you’re up against. The CMA is priceless in helping you and your agent come up with the highest possible listing price for your property by showing you what other homes sold for recently in your area. Potential buyers however, will use a CMA to justify ways to reduce their offer.
The CMA is designed to provide an overview of information like the number of bedrooms and bathrooms, square footage, features like a pool or fireplace, property taxes, etc. The CMA will also include information on how to contact your Orlando listing agent. A CMA will also include information about active listings in the area as well as homes that have sold as long as a week, a month and even a year ago. I personally don’t like going back more than a few months as the Orlando real estate market is constantly changing looks. The CMA report may include homes on just a few streets around your home or can be as wide as an entire neighborhood. Sometimes an agent will have to cast a bit wider of a net when there haven’t been enough [or any] recent sales in a particular neighborhood.
As useful as CMa’s are in determining a price for your home, there are some factors that come down to the perception of a potential home buyer. Buying a home is an emotional decision and the way that certain details and features impact buyers will help determine how much they’re willing to pay for a house. Things like curb appeal, layout, natural lighting and views are things that can make or break a deal for a buyer trying to picture him or herself living there for the next decade.
A CMA report will also include a statement provided the listing agent that gives an overview of fact and opinion about the property designed to highlight the property’s best features as well as cover any selling restrictions on the home. You could see something like “roof recently replaced” or “a must see, this property won’t last long!”
At the end of the day, the CMA is just a selling tool and without a skilled Orlando realtor that knows how to use it, it won’t be very effective on its own.
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If you’re interested in seeing how your Orlando home stacks up against other homes in your neighborhood, be sure to visit us at http://orlandorealtyconsultants.com/ for your free comparative market analysis prepared by one of our top listing agents.