A CMA, or comparative market analysis, determines the right price for your home based on current market competition and recent sales. We look at homes like yours to find a price that attracts buyers without leaving your hard-earned money on the table.
How does a CMA determine the right price for your home?
We look back at homes that have sold in the last three to six months, along with your current competition. Success leaves clues. Because of that, we evaluate recent sales to find a price range that targets the right buyers. So, we make sure you don’t come out too high and sit on the market, but you also don’t come out too low and lose money.
What happens during a CMA property walkthrough?
We visit your house for 30 to 60 minutes to note important details that public records miss. First, we verify the number of bedrooms, bathrooms, and the overall square footage. Then, we check the overall condition and take note of any updates or upgrades you have done. All of this non-public data directly affects your home’s value.
Why does agent experience matter for pricing a Spokane home?
An experienced agent knows how to price a home correctly in changing market conditions, which can easily mean a $10,000 to $15,000 difference in your pocket. In fact, roughly 80% to 90% of real estate agents working right now got their license in the last five years. They only know a fast-paced market where prices constantly went up.
However, we have been in business since 2007. We navigated the distressed market in 2008 and 2009, so we know how to handle changing market trends. Right now, we are in a transitionary market selling your home guide. Skill and experience actually matter again. Ultimately, hiring an experienced agent could be the difference between selling your home for top dollar or not selling it at all.
Have more questions about getting a CMA? Visit spokanehomeguy.com or call 509-990-SOLD (7653) — we’re happy to walk you through it.
FAQ
We typically look at similar homes that have sold within the last three to six months. This timeframe gives us the most accurate and up-to-date picture of what buyers are currently willing to pay in our local market.
A typical walkthrough takes about 30 to 60 minutes. The exact time depends on the size of your property, but it gives us plenty of time to see your specific upgrades and verify details that public records miss.
Yes, pricing your home correctly from the start with a solid CMA can make a $10,000 to $15,000 difference. It prevents you from underpricing your home or sitting on the market too long and losing buyer interest.
