What is a CMA?
A CMA is a Certified Market Analysis. This is done by a Realtor to help determine the fair market value of a home. An agent will take comparable homes that have sold within the last few months and have similar features as the subject property. They will take all the comps and come up with a low, high and average price. The CMA will also have average days on the market. I find it good to have in between 10-25 sold comparable properties for the CMA. I also give my sellers a list of active homes in the same price range that they are looking to list in. This helps them see their competition.
Make sure you don’t over price the home when you put it on the market. See my blog post on Pricing your home right.