A Comparative Market Analysis (CMA) is a report which determines the fair market value of a property, based on the property's unique features as well as other comparable properties which have recently sold in the same building, street or neighbourhood. A CMA should be conducted before placing an offer to purchase on a home.
- For Buyers: A CMA should be conducted before placing an offer to purchase on a home. If you're working with an accredited broker, they will provide you with a CMA to determine its market value and will help you defend this calculation while presenting your offer to purchase. (Note: be careful if you are basing your offer on a CMA provided by a listing agent as they will have the sellers best interests in mind, not yours).
- For Sellers: The first step before listing a home for sale is to conduct a CMA. Again, you must be working with an accredited broker if you wish to correctly determine market value. Once you understand market value, you and your broker will then work together to set the asking price of your property, adjusting it based on your needs, time of year, and market conditions.
- For FSBOs: If you are selling your home on your own, be aware that the data used to price your home might not be based on the latest market sales/data. When using a free online tool to determine market price, make sure the evaluation is sent to you by a real person, rather than being automatically generated. Our (free) online property evaluation tool is followed up by a direct phone call from an agent, who will ask you specific questions about your property and will help you determine a fair market value price.
For buyers working on their own, home owners thinking about selling or FSBO's wondering if their pricing is correct....
At Shupilov.com want you all to have the most accurate pricing information. If you're unsure on your pricing or want to find out how much your home is worth, feel free to request a no obligation property evaluation which uses the latest data to find out how much your home is really worth.