Question:

One Realtor said they can get this much for my house but the other  gave me a lower price. I want the higher price but..? The Realtor with the lower price told me they would do a CMA for me. What  good would that do me and does this mean?

A CMA is a real estate  term for Competitive Market Analysis or Comparitive Market Analsis. Both terms are used to mean the same thing.
As a seller it is imperative your Realtor know your market especially when a market changes. If the market has many houses for sale it generally means it is more of a "buyers market". In other words, now the seller has more competition and will need to be competitively price to sell.

The Realtor does not determine the market . The market does. It is the law of supply and demand. If a buyer thinks your property is something they want and the price is right It will sell. If the buyer does not want your home and the price is too high the buyer will go somewhere else.

When selling it is imperative to put yourself in the buyers shoes. Simply choosing someone because they tickle your ears with a price you wish to hear can mean your property might end up sitting on the market for a longer period of time than you might have anticipated...That can cost you money!

What do you think when you see a property that has been sitting for a while? Right! You tend to think what is wrong with it?   If you are a seller would you really wish for your buyers to be thinking like this ?

A thorough Realtor will do a current up to date CMA that is not swayed but objective to your neighborhood, style and size of your home in order to assist you coming up with a price to sell your home. Knowing what has  recently sold is knowing more of what the market is saying.  If you know what the market is telling you then you can more accurately price your home so it will sell.  

There can be many on the market at higher prices but if they have not sold the price could be anything. A house sitting is not a sold house

The Realtor will then show you your competitors the ones that have not sold. In other words , he or she will show you what other comparable houses in your neighborhood in your style and size are for sale. This will just simply show you what prices owners or Realtors are trying to get for the houses on the market. But remember, the important thing is what prices the people have actually obtained for their sold houses.

A recent CMA means your Realtor has done their homework and knows the current market., not three months ago.  If someone merely whips over to your home  blurts out a number they think your house is worth or can sell  for  use caution  if it is more of a "buyers market" , and a   CMA is certainly in order....

© Michele Weselake


To get in touch with me if you have any questions about what this means to you in selling your home

Look through  my website : www.micheleweselake.com
email me at michele@micheleweselake.com
or  phone for an appointment 780 485-5005  Lets talk!

Keeping you informed.


"Its about your real estate transaction."  " Its about you."

Your Realtor ®
Michele