In a Real Estate Market Research, Homeowners always want to know how much their house is worth when they consider putting their house on the market.
A Real Estate Market Research or Comparative Market Analysis is a study of the current market value of real estate, similar to yours, which serves as a tool to determine the market value of your property.
Before placing a home on the market or listing a property with a real estate agent, smart home sellers get market research, also referred to in the industry as a CMA.
A Comparative Market Analysis (CMA) is the process of comparing an item to other items of shape, size, manufacture, etc. similar, to calculate the cost.
In the real estate industry, you or your real estate agent will perform a CMA in your home during the sale, comparing the current comparable offers expired and sold in the area to effectively value your home.
The analysis of the real estate market of an investment property follows the same principles as for a residential building. In principle, you should collect data about properties in your area that are comparable to your current or recently sold properties.
If you are a buyer or sales representative, a full CMA plays an important role in any real estate transaction. Experienced agents know what impact an inaccurate CMA can have on negotiations, but new agents need practice.
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