Before we get started, something to be aware of is that a comparative market analysis is different from an appraisal of your home. Top real estate agent Allen Studebaker<\/a> in the Phoenix, Arizona market says it\u2019s important to know the difference and how to get a CMA done for your home.<\/p>\n \n\n\n\n\n A great starting point is HomeLight’s Home Value Estimator. We\u2019ll pair your answers to a few questions with housing market data from multiple trusted sources for a real-world estimate in under two minutes.<\/p>\n \n A CMA is used to compare your property against recently sold properties nearby to determine a beginning listing price for your home sale. A well-done CMA will consider the features of the comparable<\/a> properties (called comps), such as square footage, age of the home, location, upgrades, nearby amenities, and other data.<\/p>\n A top listing agent<\/a> will use this information to create an opinion of the home\u2019s value on the market. The CMA report can be extremely detailed, with charts, graphs, photos, and other information laid out in an easy-to-read format.<\/p>\n The result is not a hard and fast number, but rather, it should be used as a gauge. Studebaker says creating a CMA<\/a> is more of an art than an exact science.<\/p>\n An agent has a lot more tools at their disposal to create a CMA than the average person, which is why trusting this task with a professional is the best option for home sellers. Real estate agents have access to the industry\u2019s multiple listing service<\/a> (MLS), unlisted properties, tax records, and real-time data. Agents can find far more accurate information compared to what might be posted on public domain listing sites.<\/p>\n \u201cNot all properties get recorded properly through the MLS and get syndicated to other websites,\u201d says Studebaker. \u201cIn these cases, it could have dramatic results on a CMA that someone is doing off of other websites that don\u2019t actually have all the data delivered to them.\u201d<\/p>\n![\"homelight](\"https:\/\/www.homelight.com\/blog\/wp-content\/themes\/ccprototypev5\/images\/logo-small-cta.png\"){kind=logo}
\n <\/div>\n \n Want a Peek at Your Home's Value?<\/h3>\n
What is a comparative market analysis (CMA)?<\/h2>\n
How is a comparative market analysis put together?<\/h2>\n