Home sellers usually acquire a comparative market analysis before they decide to put their homes on the listings of real estate agents. But what exactly is a comparative market analysis and how it is used in selling homes?
Comparative market analysis (CMA) is a standard report that contains specific information about the home or property for sale. Most real estate agents and brokers use a CMA in estimating the value of a house or property. The comparative market analysis report may contain two pages or more depending on the content of the report and the nature of business of the agent.
Specific data contained in a comparative market report includes active, pending, sold, withdrawn, and expired listings.
Active Listings
Active listings contain lists of houses that are currently for sale. These listings do not …show more content…
These listings previously came from the active listings. The actual price is not known until such time that the transaction is closed.
Sold Listings
Sold listings consist of homes that have been sold for the past six months. These listings are considered as comparable sales and are mostly used by certified appraisers in appraising your home in case there is a buyer.
Canceled/Withdrawn Listings
Homes belonging to these lists are those that were removed from the market due to some reasons. The most common reason why homes are taken off is because of very high price. Because of the high price, there are no interested buyers.
Aside from the high price, there are other reasons why a home is removed from the lists. One of the reasons is when sellers are no longer interested to sell their homes and decided to keep it to good use.
Some agents purposely withdraw the listing and re-post it as a new listing in order to attract more buyers. Another common occurrence is that a buyer requests for some repairs and the seller refuses to grant that request.
Expired
Comparative market analysis (CMA) is a standard report that contains specific information about the home or property for sale. Most real estate agents and brokers use a CMA in estimating the value of a house or property. The comparative market analysis report may contain two pages or more depending on the content of the report and the nature of business of the agent.
Specific data contained in a comparative market report includes active, pending, sold, withdrawn, and expired listings.
Active Listings
Active listings contain lists of houses that are currently for sale. These listings do not …show more content…
These listings previously came from the active listings. The actual price is not known until such time that the transaction is closed.
Sold Listings
Sold listings consist of homes that have been sold for the past six months. These listings are considered as comparable sales and are mostly used by certified appraisers in appraising your home in case there is a buyer.
Canceled/Withdrawn Listings
Homes belonging to these lists are those that were removed from the market due to some reasons. The most common reason why homes are taken off is because of very high price. Because of the high price, there are no interested buyers.
Aside from the high price, there are other reasons why a home is removed from the lists. One of the reasons is when sellers are no longer interested to sell their homes and decided to keep it to good use.
Some agents purposely withdraw the listing and re-post it as a new listing in order to attract more buyers. Another common occurrence is that a buyer requests for some repairs and the seller refuses to grant that request.
Expired