Your Naperville Area Real Estate Experts
Why Buy a home in Naperville, Illinois? |
The CMA Explained
(printable version) |
Krueger
Realtors
436 W Gartner Rd - Naperville, IL 60540
Ph (630) 369-0400 - Fax (630) 420-7115
Email: RKrueger@KruegerRealtors.com
Website: www.KruegerRealtors.com |
A CMA, or comparative market analysis, is a report that provides all the information you
need to make an informed decision as to how much you should list your property for in
today's market. It should also give you an anticipated range for the final selling price.
Krueger Realtors provides prospective clients with a CMA in connection with with listing
and sales process. This service is not offered on-line because a walk-through of the home
by a qualified professional is necessary to perform this analysis.
When you call to list your property, we will meet you at your home so that we can gather
the information needed to prepare the CMA and to take measurements of the rooms. At
that time we will review the Marketing Agreement and answer any questions you may have.
After the initial meeting, we will prepare the CMA and the first draft of the Listing
Sheets and Special Features sheets for your approval. When we return the CMA to you, upon
listing your home with Krueger Realtors we will start the 30-Day Marketing Plan!
A CMA contains recent market information on properties similar to yours that are:
- Active - These are properties similar to
yours tat are currently available for sale. These are the homes you will be in direct
competition against for the buyer's attention. But beware, some of these homes are likely
to expire. And if you price yours in consideration that everyone of these homes are priced
competitively, you'll probably end up pricing you home too high.
- Expired - These are homes similar to yours
that have recently expired. That is, they failed to sell within the listing period
(typically 3-4 months). These homes will give you an indication of what is likely
too high a price to list your home.
- Sold - These homes are similar to yours and
have recently sold. These homes will provide you the clearest indication of exactly how
much you should list you home for in today's market. They are a track record of proven
successes. They also provide excellent insight as to how much your property will likely
sell for and how long it will take.
Notes................
1) The Realtor Association of the Western Suburbs estimates
that buyers see an average of 19 homes before writing an offer. That means that if you've
had 25-30 showings and your home has still not sold, your price is probably too high.
2) The most common objection by far is that the price is too high. Others include the
condition (home needs repairs and/or updating) and the location. Any objection can
eventually be overcome by lowering the price, although that is oftentimes not the only
solution available. |
Krueger Realtors
436 W Gartner Rd, Naperville, IL
60540 - Phone (630) 369-0400 - Fax (630) 420-7115
Email: RKrueger@KruegerRealtors.com
Website: www.KruegerRealtors.com
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