Why a simple CMA Comparative Market Analysis is Not Enough?

So you’re planning on selling your North Carolina home.

It may be your first home or you may be selling a home for the second, third, or fourth time. In the selling process, you are bound to hear about the importance of a CMA aka Comparative Market Analysis and maybe you’ve used the in the past. We want to take a minute to tell you why a CMA is not enough and why we choose to use a statistical analysis to give you maximum info. You don’t want to gamble with your home’s market value and neither do we!

Here is the skinny on a CMA:

They are a default report that can be quickly run from the MLS which will give you a look at the last 3-6 month of home sales in your area. This may be up to a 5 page report that can look impressive but lacks so much information.

Let’s forego the CMA and get to the real info you need with a statistical analysis.

Your statistical analysis can be anywhere from 15 – 20 pages, and while some may think that size doesn’t matter, it does when it is choke full of information that will help you make decisions that are in your best interest.  Unlike a CMA which mainly focuses on home sales in the area, as well as active, pending, and expired listings, your statistical analysis will show you a range of pricing based on the condition of your home, square footage, number of bedrooms/bathrooms, and acreage. You will also see if the home values in the Raleigh, NC area are trending up or down, and other super cool information that the appraisers use when they are placing a value on your home.  

Why do you need all of this when you can get the market value of your home online?

That is an excellent question! Yes, there are ways to get market value online however that information is not always up to date. Online market values are generally determined by past tax records whereas the real MLS is the most accurate source when it comes to getting this information and placing a true value on your home.

And, if you aren’t already convinced that you need a statistical analysis over a CMA, let’s talk negotiations. Have you ever bought or sold a home and had the asking price accepted on the first go-round? Probably not. Home buyers almost always come to the seller with a negotiation offer because that is part of the home selling/buying process. Your statistical analysis will arm you with all the info you need to set your negotiation limits, allowing you to walk away from the closing table happy...happy...happy.  

This is the type of information we think every home buyer should know, that’s why you can find this and so much more in our Home Selling Guide videos. It is our way of gifting you to get access to the information you need before you commit to a real estate agent to list your home. There is no pressure.We even give you the opportunity to ask any questions through the Customer Care tab. No one is going to call and hassle you. That’s a promise!