Why is a Comparative Market Analysis (CMA) Important?

 

It is important to understand that there are certain things that DO NOT affect the value of your property:

  • What you paid when you bought (or built) your house.

  • The cash proceeds you want or need from the sale.

  • What Iain or any other real estate professional says your property is worth.

Buyers dictate the price they are willing to pay for your property:

  • Buyers comparison shop.

  • A buyer will not pay more for one property than he or she would have to pay for another, similar property.

A Comparative Market Analysis (CMA) shows what buyers willing to pay for similar properties:

  • A CMA demonstrates what buyers have recently paid for similar properties.

  • A CMA shows what buyers have not been willing to pay in current market conditions.

  • A CMA shows you what other properties are currently active on the market, competing for the buyers’ attention.