A well-researched CMA allows sellers to position their home competitively, ensuring it generates multiple offers and drives a bidding war, which frequently results in a final sale price that exceeds the initial asking price. By filtering through the noise of asking prices, a CMA delivers a figure that represents what a buyer is actually willing to pay, rather than what a seller hopes to receive.
CMA Price by Bedroom, Bathroom, and Square Footage
It empowers them to make offers that are fair to both the seller and themselves, ensuring they do not become victims of their own enthusiasm. Furthermore, the CMA protects buyers from entering a bidding war on a property that is already priced above its market value.
The Mechanics of a CMA A CMA price is not generated by a random algorithm or a simple square-footage calculation; it is the result of a detailed comparative analysis conducted by a real estate professional. Overpricing, even by a small margin, can lead to a property being stale in the marketplace, which often results in a lower final sale price due to buyer skepticism or perceived issues with the property.
CMA Price by Bedroom, Bathroom, and Square Footage
This comparative market analysis serves as the foundational tool for determining a property's fair market value, taking into account recent sales, current inventory, and the specific features of the home in question. By presenting a side-by-side comparison of similar homes, the CMA helps sellers see their property through the eyes of the market.
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