If you are selling your home you may need to get started with a free valuation of a property. But what exactly is a CMA? Well when you meet with an estate agent, they will use a method called CMA or comparative market analysis to value your property.
Comparative market analysis or CMA
A CMA is a method that determines the accurate market values by comparing other similar properties that have recently sold in your area. Your estate agent will refer to this as ‘comparables’ and would take some of the following into account:
- Considering what other houses, similar in size to yours, have sold for in the last 6 months.
- This will provide an average price per square meter for the homes in your area that have sold within the last 6 months.
Solid base price?
The CMA effectively provides your estate agent with a solid price base that is used to determine a reasonable asking price for your property. There are also other factors that will affect the valuation which you need to consider, such as:
- Demand for property in your area.
- The condition of your property. Has your property been well maintained?
- Size of your stand and the size of your home. A key output here is to understand the cost per square meter.
- The elevation of your property (does it have a view, does it have a nice garden to look out onto?
- How old is your home? Has the kitchen been modernised? Remember kitchens can sell a home. How modern is your bathroom because bathrooms impress.
- How secure is your area? More specifically how secure is your home?
- Have you made some modern, cosmetic changes such as modern flooring? Perhaps you have added a fireplace? Or you may have revamped your light fittings? Have you invested in a fresh coat of paint recently? We cover a range of articles to help you make the most of each room in your house. We cover the general benefits of home staging, luxurious master bedrooms, and making the most of creating a trendy small home office.
- A big factor to consider is also all the properties currently on the market. We compare like with like in other words.
Why all the fuss with a CMA?
Because the price you list your property for is crucial. When potential buyers come to view your property, they will be shopping with their eyes, their ears, and their hearts. If your home has recently been updated, they will see it. If your home is neat, clean, and has been well maintained, then the commercial appeal of your home will appeal to a much wider audience. So, all the fuss could very well help you command a higher asking price. A free property valuation will do the trick and provide you with an accurate market-related price when you sell. Click here to book your free property valuation.
What’s my house worth, let’s get you a free property valuation?
Keller Williams simplifies the process when you need a valuation done. Let us connect you with a top Keller Williams agent in your area. There are almost 1,500 agents across the country and we are the fastest growing real estate brand in SA. Your Keller Williams sales associate will help you to determine the most accurate asking price in the current market. The CMA will be used to do a comparison of the properties that have sold in your area in the last 6 months. Also, your estate agent will assess what properties are on the market at the time of doing the valuation. An average price will also be determined here. But, remember there is a big difference between the asking price and the sales price. Also, the factors we discussed above will also be taken into consideration, such as:
- The general condition of your property.
- Its size.
- The special viewpoints (what made you fall in love with your property)?
- The size and condition of your garden.
- How modern are the bathrooms and kitchen?
- What security features should be considered?
- Have you undertaken any renovations such as flooring, adding a fireplace, etc?
- What upgrades have you made to your property to realise its full potential value?
All these factors could well lead to a better asking price
Combined, all these factors work together to influence what the asking price will be. And, the quality of your home and the attention you have paid to it, will go a long way to getting you a good selling price. Remember a home that has been well maintained will need less work which equals less cost to a new buyer. And a property that looks good competes with all the other properties in your area. Remember you will want to sell fast and for the best possible price.
We are the biggest and we are the best!
Simply, Keller Williams is the franchised largest real estate brand in the world. We are by all accounts the fastest-growing franchised estate agency in SA. With almost 1,500 estate agents working under the various market centres (Keller Williams Select, Keller Williams Eden, Keller Williams Clockwork, etc) all our market centres, leadership and agents join forces to sell your property. If you are thinking about selling your property we can most certainly help. The good news is that we have almost 1,500 agents who will help you sell your property. And that’s with 1 board on your pavement. Keller Williams is all about creating a win-win solution for all our stakeholders across the value chain or the deal is off. Keller Williams is also able to boast internationally about leading the curve in terms of training, be that local or international. Click here to book your valuation.
Get in touch
So, if you need a free property valuation done on a property in Randburg or elsewhere in SA, we can help. Give us a call or send me a WA to (083) 550-1220. Alternatively, drop me an e-mail at firstname.lastname@example.org. I have a vast network of almost 1,500 top Keller Williams agents at my fingertips who are all just dying for the opportunity to partner with you to sell and conclude your property transaction in record time.
If you want to view all the Keller Williams properties across the country click on my website to start the search for your dream home.
Estate Agents – want to know more about KW?
Keller Williams (USA) is a top real estate brand to work for. If you are an estate agent and want to know a little more drop me an e-mail. If you would like to leverage world-class technology to the benefit of all our stakeholders across the value chain and end up with a win-win every time, then let’s touch base. Also, read what makes Keller Williams the best!
Need to read up on more articles that you may find valuable, be sure to read through some of our content and advice:
- Randburg property trends (Oct 2021).
- Property prices in Bromhof
- Property prices in Sundowner
- Tips when selling property in a buyer’s market.
- What goes into preparing an accurate property valuation?
- What’s my property worth?
- Do you need a free property valuation?
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- The importance of setting the right asking price when you sell your home
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