A comparative market analysis
(CMA) lets you know how
comparable sales are to those
that most closely resemble
your home. It is difficult to
compare a tri-level home to a
single-story home. It shows
homes that are mostly identical to your home in size, shape, and condition.
What will a CMA have and generally cover:
Active Listings: Active listings are homes currently for sale.
Sold Listings: Homes that have closed within the past 3 - 6 months are your comparable sales.
Expired Listings: This group will reflect the highest median sales price because they did not sell and were probably unreasonably priced.
Take a look at my virtual example of a CMA that can be done for your home without me having to enter it because of our new current COVID world.
Also factors such as location, similar amenities, upgrades, and condition, similar age of construction and similar square footage.
We sell everywhere in the GTA so we have a sound knowledge of property prices everywhere as our team has sold everywhere. This "get a local agent" sales pitch is a myth in the age of the internet in 2019 and beyond.
Now as a cautionary tale to you all. Despite getting various CMA's from many agents, most people will fall for the agent that quoted a listing price far and above the average value of what any other competent agent quotes you. What does that cause? A sign on your lawn, a home that is priced and listed forever, a listing that eventually gets cancelled and then a new listing with a new agent at a lower price. Does that make sense? NO.
Simply get the truth upfront and experience fewer headaches and emotional rollercoasters. Don't misunderstand, this isn't about selling your house for a low price just to sell it. Any agent worth their salt wants to get you the highest amount possible, to make you happy and to get more referrals from you.
Do you know what I feel is my ace in the hole?
I get the assistance of 3 other team members and their many years of experience to all price your home and use 2 other digital sources to get a proper price for your home. You can't beat that.