Comparative Market Analysis (CMA)
Thank you for requesting Arthur to conduct a CMA on your property.
This exciting study will allow Arthur to present you with recent market activity including active listings and recent sales in your area to compare against.
This report will give you the best information possible to make sound decisions for you and your family with respect to listing your home on the open market.
As you may or may not have participated in a CMA before, it is important to know the process.
The initial steps in the process of a CMA is an informal one, but the overall spirit is very serious. The most important aspect you need to know is that whatever the reason for your CMA, Arthur will treat you professionally, holding your privacy in the highest respect for the duration of his lifetime. Yes, any motivation you choose to share must remain secret with Arthur until he is dead, unless you direct him in writing to share it with others.
In summary, Arthur will meet with you at your property, a short conversation around Agency and privacy will be followed by an in-depth tour of your home. Allow for a good 30 minutes for the tour, which will allow Arthur to make significant notes, and perhaps even pictures and measurements to ensure accuracy. Arthur will want to see every room in your home, the mechanical room and electrical panel. If you have a garage or other “outbuildings”, Arthur will want to view them as well.
During the tour, please remember to disclose any defects that you are aware of, as it is Arthur’s duty to make any Buyer(s) aware of such defects, and it is also unlawful for you as a Seller to conceal them if they are known to you.Using this information you will provide, and the tour of your property, Arthur will also combine market statistics including recent sales, and current active listings to help define a range the market would probably bear on a sale price of your property. Keep in mind that “market value” is most clearly pinpointed when a willing seller accepts a sale price that a willing buyer is to prepared to pay for any property.
As no two transactions are alike, and people’s motivations vary, the CMA cannot be considered an exact science. Two identical properties next door to each other can sell for wildly disparate prices, depending on the reasons associated with both the seller’s motivation to sell, and the buyer’s motivation to buy.
The video Agency Realtionship (click link at left and scroll down for video pane) provided by Alberta’s governing body RECA (the Real Estate Council of Alberta) will assist in providing an outline that describes how your relationship may evolve into with Arthur. During the CMA presentation, and subsequent review of this concept is the best time to ask any questions you may have.
Arthur will go through the Agency Relationship guide with you and at the conclusion, will ask you to make an informed choice as to how you would like to move forward and clearly spell out Arthur’s and your expected relationship duties to each other.
Once this is done, you can conclude the meeting and digest the CMA information, or you can move to the next level, which is to actually list your home with Arthur.