If you’re thinking about selling your home, one of the first questions you’ll ask is, “What’s my house worth?” That’s where a Comparative Market Analysis, or CMA, comes in. A CMA is one of the most important tools a real estate agent uses to help you price your home competitively and accurately.
Here’s how we put one together for your home in South Florida —step by step:
1. Getting to Know the Neighborhood
Before we even dive into the numbers, we start with a close look at your neighborhood. Location is everything in real estate. We look at things like:
• Distance to local schools, parks, and shopping
• Nearby eyesores or nuisances (like busy roads or industrial areas)
• The overall curb appeal of surrounding homes
This helps us understand how your home stacks up locally and what kind of buyer your area will attract.
2. Online Estimates: A Starting Point, Not the Final Word
Many homeowners check Zillow or Redfin before calling an agent, and we get it. Platforms like Zillow’s Zestimate and HouseCanary give rough estimates based on public data. While these tools can be helpful, they’re not always accurate. We still check them—mainly to know what a homeowner might be expecting—then we use our own tools and experience to go much deeper.
3. Pulling Market Forecasts and Trends
Using platforms like HouseCanary, we also take a look at where the market may be heading. These tools offer 3-year value forecasts, which can be helpful when talking strategy—especially if you’re debating whether to sell now or wait. This gives us a bigger picture of your home’s potential, not just its present value.
4. Reviewing MLS and Online CMA Platforms
Next, we dig into the MLS (Multiple Listing Service) to find homes that are:
• Actively listed
• Recently sold
• Pending
• Expired (didn’t sell)
This tells us what buyers are willing to pay in your area—and what they’re NOT paying for. It’s a great way to learn what pricing strategy will work best in today’s market.
5. Price Per Square Foot and Property Comparisons
Once we’ve narrowed down similar homes (called “comps”), we start comparing prices based on square footage. We also take into account features like:
• Number of bedrooms and bathrooms
• Lot size
• Renovations or upgrades
• Year built
We look for the average price per square foot among similar homes, then apply that to your property to estimate value.
6. A Personal Visit to Your Property
All the online research in the world can’t replace seeing the home in person. A big part of building a CMA is touring your property ourselves. We’ll assess the overall condition, note any upgrades (like a new roof or kitchen), and identify anything that could impact the value—positive or negative. If anything stands out, we may revisit our comps or adjust our numbers accordingly.
7. Final CMA Report
Once we’ve gathered all the data, we’ll prepare your final CMA. This is a detailed report—often shared digitally or in a presentation—outlining:
• The estimated market value of your home
• The homes we used as comparisons
• The recommended list price range
From here, we work with you to decide the best pricing strategy based on your goals and timeline.
Why the CMA Matters
Pricing your home correctly from the start is critical. A well-priced home attracts more interest, sells faster, and often receives stronger offers. That’s why a professionally prepared CMA isn’t just a good idea—it’s essential.
At [Your Company Name], we take pride in getting pricing right, marketing effectively, and negotiating with confidence. If you’re planning to sell your home in South Florida , we’d love to help you get top value without the guesswork.
Visit: www.michelstephaneleys.com
Call: 786-721-2381