prevent you from having a chance at a windfall, but the odds of pulling that off are slim at best, and if and when you fail, you will find yourself with a house that spends too long on the market, with a history of lowering prices and a skeptical, opportunistic set of customers.
GETTING A COMPARATIVE MARKET ANALYSIS—FREE FROM AN AGENT!
Most home sellers are familiar with the idea of a comparative market analysis. This is a popular tool used to ascertain the real value of a property intended for sale. Comparative market analysis, or CMA, is the process of analyzing the sales deals of homes comparable to yours in the region surrounding it. This analysis is a detailed one, taking into account every aspect of your home in detail. In the first place, though, you need to understand that this is not an appraisal. The value assigned in this process is subjective, based on the beliefs of the Realtor® as to how much the home can be sold for. The assessment will never have any financial or legal validity, though it is frequently used by agents to win listings by presenting a higher potential value for a home. In fact, many agents are prepared to give this assessment to you for free. The principal objective of CMA is not to give you a prediction or expectation so much as to give you a fair idea of where to base the listing price for your property so it falls reasonably in line with market trends to encourage a successful sale. Depending on your choices, a CMA can be conducted based on a given number of sales, or might take into account properties sold within a specified proximity to your house. The CMA focuses on aspects like the physical size of the property, the total number of rooms, the number of bedrooms and bathrooms, and other components. There are, however, no fixed rules on how to conduct a CMA. Other features that may be considered include amenities like a swimming pool or a fireplace,
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