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Nicholas Nic…, Real Estate Pro in Mount Ephraim, NJ

What is the best way to do a comparative market analysis and come up with a price?

Asked by Nicholas Nicoletti, Mount Ephraim, NJ Sat Feb 6, 2010

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Ask your broker to help you, if you really don't know how to do one. He/she should be mentoring and training you. This is a very important thing you'll be required to do as an agent, and you should learn how to do it from an expert. Being OFF in your CMA price right now will kill your chances of selling a listing. Accuracy is crucial to success. Your broker should know that and help you.
0 votes Thank Flag Link Sat Feb 6, 2010
Our MLS has a Comparative Market program built into it.

You can do your search, check off the properties of interest, click CMA and the program allows you to choose how in depth you want it.

I do this for my buyer's all the time. It looks really professional to hole punch and put into a folder.
0 votes Thank Flag Link Sat Feb 6, 2010
Are you asking how to do a cma?

I don't know "what the best way" is............other than being as accurate as possible .......use comps no older than 6 momths old............my compay has a program called ToolkitCma that does a nice job of summarzing the data, and coming up with colorful charts and graphs analyzing the active, under contracts and solds.

Of course, any program is only as good as the information you feed it.

Sitting down with the sellers, going over the whole process one step at a time is always "best".

Coming up with a price? Well..........that takes stats and gut feeling......throw in some experience, and voila.....a cma!
0 votes Thank Flag Link Sat Feb 6, 2010
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