Comparable Market Analysis Class & Proof

830 North Columbia Center Boulevard,Kennewick WA 99336

30 September, 2021

Description

Comparable Market Analysis Class & Managing Broker no host Dinner at Proof! Come and join us for an IN-PERSON ONLY Comparable Market Analysis Class! What Is A Comparative Market Analysis (CMA) In Real Estate? A comparative market analysis is a tool that real estate agents use to estimate the value of a specific property by evaluating similar ones that have recently sold in the same area. It can be extremely challenging to reliably estimate the fair market value of a home because there are a significant number of factors that go into determining how much a specific property is worth. When people who are buying a house or selling theirs think of factors that impact the price, they typically consider location, square footage and the number of bedrooms and bathrooms. But the property’s age, condition, features, lot size and so on, as well as the conditions of the local and national markets, affect the value of residential real estate as well. How Is A Comparative Market Analysis Prepared? In order to conduct the analysis, agents search for recently sold homes in the same area that are as similar to the subject property as possible. These homes, which are known as comps, or comparable sales, are used to conduct a sales comparison approach to pricing. This approach relies on the premise that you can figure out how much a home is worth by identifying how much it would cost to purchase a similar home of equal desirability.