What is a CMA in real estate?

What does a CMA include?

A comparative market analysis (CMA) is an estimate of a home’s value used to help sellers set listing prices, and to help buyers make competitive offers. The analysis considers the location, age, size, construction, style, condition, and other factors for the subject property and comparables.

How do I get a CMA for my home?

You can either scan lists of homes that have recently sold or get a report prepared by a local real estate agent, who will contact you and probably try to solicit your business at that point. Alternatively, you can purchase a CMA report, for example, at www.ushomevalue.com.

How do I get a CMA report?

How to Do a Comparative Market Analysis in 8 Steps

  1. Gather All the Data You Can About the Subject Property. …
  2. Gather Tax Information. …
  3. Gather Your Subject Property’s Previous Sale / Listing Data. …
  4. Examine the Recent Comparable Sales. …
  5. Examine Comparable Properties Currently for Sale.

What is a buyers CMA?

A comparative market analysis, commonly abbreviated as CMA, is a report prepared by a real estate agent to help a client determine the value of a home.

How many properties do you need for a CMA?

The first step for an agent preparing a CMA is to find three homes that have sold recently (within the past 6 months at most, but preferably 3 months). These three homes should be as similar and located as closely together as possible.

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How much does a CMA cost?

CMA program entrance costs $225, but student or academic IMA members are eligible for a $150 discount. CMA exam fees are $300 or $350 per part, depending on how you register and when you take the exams, for a total of $600 or $700.

Is a CMA free?

Most real estate agents will provide you with a CMA for free, especially if you are selling your home. In fact, comparing CMAs is a great way to find the agent you want to work with.

What is the last step in completing a CMA?

What is the last step in completing a CMA? Estimate a reasonable and realistic selling price for the seller’s property. Compare the seller’s property to the comparables and do some adjusting to the value of the comparables. Choose comparable properties in the area.

How much is a bedroom worth in a CMA?

Since Comp 2 sold for $220,000 and Comp 1 sold for $200,000, I will estimate that 1 bedroom is worth around $20,000 in a property that is identical in other ways.

How do you adjust for a CMA?

When you are creating a CMA, use the Adjustments tab to make price adjustments to comparable properties. The fields you selected on the Subject tab are displayed by default on the Adjustments tab. To add another field, select the All Fields radio button to see all the fields that are available for adjustment.