How An Agent Will Calculate A CMA for Your House In Northwest Valley

April 9, 2019

A comparative market analysis, known as a CMA is a report to help determine the selling price of a house. A real estate agent is going to look at similar homes that have recently sold, along with currently pending and active listings on the market nearby. Creating a CMA to determine a price range is is an important skills for a real estate agent. Let’s take a look at how an agent would calculate a CMA for a house in the Northwest Valley.

1. Neighborhood Assessment

Assessing the neighborhood is one of the first things an agent will look at to calculate a CMA. They will quickly search online to get an understanding of property values in the neighborhood. Some of the factors that they will look at include:

Proximity to amenities
Proximity to unpleasant or unsightly things like garbage dumps
Major curb appeal issues

2. Online Home Valuation

Next, in order to calculate a CMA for a house in the Northwest Valley, an agent will probably take a look at automated home value tools. These tools are based on limited tax records along with data added by agents. These home valuation tools may not be entirely accurate, but they are a good starting point to calculate a CMA. Many time, homeowners have already checked out Zillow’s Zestimate. An agent will need to be prepared for any inaccurate values that homeowners may have from sites like these.

3. Valuation and Value Forecast

An agent will likely consult with RPR to help calculate a CMA to arrive at a starting valuation and look at the value forecast. This is essentially done to get a thorough understanding of trends-and gathering all information available early on so they can come up with an accurate CMA later on in the process. RPR is a data backed tool that pulls information from the MLS and tax records so that real estate agents can rely on quality information and gain an depth understanding of value trends in the area.

4. Preliminary CMA with MLS

An agent will look at the MLS once basic valuation and neighborhood data has been calculated. They will start creating an online report with comparable listings that are-sold, active, expired, and pending-to come up with a general idea of your home’s value.

5. Comp Listings and Square Foot Price

After all of this information has been collected and reviewed, the agent will then begin to calculate a CMA for a house in the Northwest Valley. The agent will have identified several comparable homes to yours and will consider the listing and sold prices of those homes. They will look at the average price per square foot for these homes and come up with a fairly accurate range for the selling price of your home based on price per square foot.

6. In-person Assessment

The next step to calculate a CMA is an in-person assessment of the house. After reviewing all of the beginning research, an agent will need to see the home in person to see how it compares to the recently sold. The agent will look at the overall condition, look at upgrades/improvements, and consider factors such as landscaping and curb appeal. Of course, if there are major issues found, the agent will have to make major adjustments or even find different comparable homes.

7. Final CMA Preparation

After all of these steps are completed, the agent will calculate a CMA for a house in the Northwest Valley. This is often done in an online presentation system, and it can either be emailed to you or printed out. We use an online system that presents a simple, yet thorough representation of the data found to arrive at a fair market value for a house.

These are the steps a real estate agent will take to calculate a CMA for a house in the Northwest Valley. It does take quite a bit of expertise, knowledge, and experience to get a CMA done right. On top of that, an agent needs the skills to then market a home effectively and negotiate to close deal. We are Certified Negotiation Experts and have invested thousands to learn online & social marketing strategies along with educating ourselves in how to represent you properly.

Are you ready to sell a Northwest Valley house? We can help! Send us a message or give us a call today! (602) 806-8834

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