If you’re selling a home in Davidson or Williamson County, your Realtor® will suggest a comparative market analysis, or CMA. This analysis is designed to help you settle on the right price for your home – after all, homes that are priced correctly usually sell faster than those that aren’t.
But what do you really know about CMAs, and how will you make sense of it once your Realtor gives it to you?
What is a CMA?
A comparative market analysis is a report that your Realtor will compile before your home officially goes on the market. It will give you information about area homes that are similar to yours, such as:
Similarities are important when you’re pricing. You can see what prices helped similar homes sell quickly, and you can see what prices may have been too high.
This is an incredibly important tool, because pricing your home incorrectly can doom it to sit on the market, unsold. You’ll later have to lower the price, which some buyers may see as a bad sign. If you price your home too low, you’re leaving money on the table.
Your Realtor can include information about how similar homes’ sale prices related to their list prices – and that can be immensely helpful in telling you which homes were appropriately priced for the market.
Are “Automated” CMAs Helpful?
Some websites offer “automated” CMAs. While these can give you a ballpark figure, just remember that it’s exactly that; they’re typically not as accurate as they need to be. Unfortunately, most automated services don’t use the most recent listings; additionally, they don’t account for things that make your home special (and possibly more valuable).
Are You Selling a Home in Nashville or the Surrounding Communities?
If you’re selling a home in Nashville or the surrounding communities in Davidson or Williamson County, we can give you a complete CMA that will help you settle on the right sale price.
Call us at 615-473-5973 or contact us online to find out what your home is worth and to learn about our extensive marketing techniques that can put it in front of the right buyers.