What Is A CMA? Why Does It Matter?
One common mistake in the industry is comparing properties solely based on their neighborhood, overlooking critical factors like condition and style. For instance, comparing a ranch to a bi-level or a single-family home to a condo might lead to inaccurate valuations.
As your listing agent, our responsibility is to defend the price of your property once you've secured an accepted contract with a responsible buyer. This is where a well-executed CMA becomes indispensable.
Unlike a bank appraisal, a CMA takes into account recent closed transactions, ensuring a more accurate reflection of the current market conditions. Banks may inflate property values for loan purposes, but our role is to provide you with a realistic and defendable price.
As you approach the appraisal stage, it's crucial to understand that if the appraisal value differs from the contract price, we, as your listing agent, are tasked with defending that price. Therefore, the accuracy and precision of the CMA become paramount.
If you have any questions about listing or selling, or if you'd like a CMA done for your property, please don't hesitate to reach out to us.
📱 Call or text us at 502.265.4776
📧 Email us at Todd@ampedpg.com
And remember, if you know anyone looking to buy, sell, or invest in real estate, please don't keep us a secret – we're here to help!
Happy house hunting! 🏡
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