If you are getting ready to list your home for sale, you are likely looking to obtain a comparitive market analysis, or CMA. This analysis takes into account current real estate listings in your neighborhood, recent sales, homes that were pulled off the market, and pending listings to determine how much your home should be listed at or sold for. There are many different places you can obtain a CMA, including from a realtor, an online calculator or a broker. There are pros and cons to receving this information from a broker. Here are a couple of those pros and cons.
The Cons of Obtaining a Comparative Market Analysis From a Broker
The biggest drawback to obtain a CMA from a broker is the price. Brokers often charge a hefty fee to perform a comparative market analysis. Out of the three options, they provide the most in-depth information, which takes the longest amount of time. In turn, this also makes it the most expensive. If you just want to know what your home is worth, you may not need or want to pay a broker to get a rough idea.
It Usually Isn't Needed When Selling a Home
The other downside to obtaining a CMA from a broker is that it typically isn't needed when selling a home. Unless you know that your home is going to break records for the neighborhood or there is concern about it appraising for what it sells for, this type of analysis usually isn't needed when selling homes. Most home sales go through just fine with realtor CMAs.
The Pros of Obtaining a Comparative Market Analysis From a Broker
You Get the Most Accurate CMA for Your Home
The benefit of getting a CMA from a broker is that they provide the most accurate CMA for your home. If you want to know exactly how much your home is worth and why they placed this value on your home, obtaining a CMA from a broker will provide you with this information.
Helps Bypass an Appraisal
The other advatnage to obtaining a CMA is that it can help you bypass an appraisal. Most lenders will except a CMA from a broker in lieu of an appraisal from one of their professionals. If you are concerned about your home selling for more than the appraised value and the buyer getting financed, obtaining a CMA from a broker can help give both of you peace of mind that financing will go through based on the brokers appraisal.
If you are looking to sell your home, you may be looking to obtain a CMA to determine how much you should list your home for. Learning the pros and cons of obtaining CMAs from different resources will help you determine how you should go about getting one so you can list your home for the right price. Contact businesses like the Luxor Financial Group to learn more.