No two homes are identical, which is why choosing a sales price or offer price for a home can bechallenging. That’s where the comparable market analysis, or CMA, can be useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the sameneighborhood and price range. This information is further sorted by data fields such as single-family orcondo, number of bedrooms, number of baths, zip codes, and many other factors. Its purpose is to showfair market value, based on what other buyers and sellers have determined through past sales, pendingsales and homes recently put on the market.
How is the CMA created?
CMAs are generated by a computer program supplied by your real estate agent’s multiple listing service(MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers,who pay dues to gain access to the service’s public and proprietary data, including tax roll information,sold transactions, and listings input by all cooperating MLS members.
Listing agents generate CMAs for their sellers, and buyer’s agents create them for their buyers so bothsides know what current market conditions are for the homes they’re interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it caninstantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria.Why? The market is constantly changing – new listings, pending sales, closed sales, price reductions,and expired listings.
CMAs can vary widely, depending on the knowledge and skill of the person inputting the searchparameters to the software as well as the number and type of data fields that are chosen. That meanssome features may not be included.
As informative as the CMA is, it should only be used as a tool and should not substitute for your realestate professional’s knowledge and advice.
Author:Deborah Boyd Phone: 940-368-1306 Dated: February 9th 2016 Views: 1,077 About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
General Inquiries: email@example.com
Office Number: 1 (800) 683-5651
Texas Real Estate Commission Consumer Protection Notice
Coming up with a down payment strategy can be difficult for some buyer
"Melisa is a very dedicated and knowledgeable professional. Her innovative ideas and creative imagination can easily be seen in all of her remolding projects. She has a heart of gold and works extremely hard to satisfy her customers. I can say, without a doubt, I trust her explicitly."