How A Real Estate Agent Will Calculate A CMA for Your House In Omaha and Omaha

How A Real Estate Agent Will Calculate A CMA for Your House In Omaha and Omaha
Homes By Chris Harter: Your Local Real Estate Agent in Omaha and Council Bluffs.
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A Omaha and Council Bluffs real estate agent calculate a CMA – a comparative market analysis – to help determine the selling price of a house. To generate a CMA, your local Council Bluffs and Omaha real estate agent will compare the house to similar recently sold houses in the area, looking at active, recently sold, and expired listings for houses as similar to yours as possible. Determining the value of your house Omaha and Council Bluffs is one of the most important skills your agent should possess (along with marketing and closing skills). So let’s see how a Omaha and Council Bluffs realtor would calculate a CMA for your house in Omaha or Omaha.

1. Neighborhood Assessment

The first thing your local Omaha and Council Bluffs real restate agent will usually do to calculate a CMA is to assess the neighborhood. A quick online check of the neighborhood will help realtor get a feel for property values. What she will look at includes:

  • Proximity to amenities
  • Proximity to unpleasant or unsightly things like garbage dumps
  • Major curb appeal issues

2. Zillow and HouseCanary Check

Next, in order to calculate a CMA for your house in Omaha or Omaha, your Council Bluffs and Omaha realtor will likely check out Zillow’s Zestimates, which are based on limited tax records and agent-added data. Although these may not be entirely accurate, they are nevertheless a good starting point. Besides, homeowners many times have already consulted Zillow’s Zestimates, and a good local Council Bluffs and Omaha real estate agent will need to be prepared for the inaccuracies homeowners may have picked up there. HouseCanery also provides great data for valuing your home in Omaha and Council Bluffs.

3. Valuation and Value Forecast

Your Omaha and Council Bluffs real estate agent will likely next consult HouseCanary to begin to arrive at a valuation and value forecast. Basically, this is done for the sake of thoroughness – gathering all the available information early on to calculate a CMA accurately further on in the process. One of the good things about HouseCanary is that it offers value forecasts and valuations three years out. This can then be used for negotiating leverage early on.

4. Preliminary CMA with MLS

Once your local Council Bluffs and Omaha real estate agent has assessed the neighborhood and looked into the Zillow Zestimate and HouseCanary valuation, she will check out the MLS with certain online CMA platforms. She can examine comparable listings – sold, active, expired, and pending – to get a rough idea of your home’s value.

5. Comp Listings and Square Foot Price

After compiling all this information and narrowing the search criteria, your local Council Bluffs and Omaha real estate agent will then begin to calculate a CMA for your house in Omaha and Omaha. By this point, she should have pinpointed several homes in the area comparable to yours and can consider the selling prices of those homes. The job at this point is to find the average price per square foot for these comparable homes to arrive at a fairly accurate estimate for the selling price of your home based on square footage.

6. In-person Assessment

The next and last of the preparatory steps to calculate a CMA is is an in-person assessment of your house. Your Omaha and Councl Bluffs realtor has completed all the preliminary research, so now she needs to see and assess your house in person to see how it stacks up against what she has learned on paper. Your Omaha and Council Bluffs real estate agent will look at the general condition of your house, will evaluate any upgrades and/or additions, and will go over the property itself considering such things as landscaping. If your Council Bluffs and Omaha realtor finds any major issues, she will then have to conduct a new search for comparable listings or adjust the price per square foot.

7. Final CMA Preparation

Having done all these things, your Council Bluffs and Omaha real estate agent will then calculate a CMA for your house in Omaha and Omaha. Often this is done in the form of a PowerPoint or keynote presentation, printed out and put together in a binder. Today, most Council Bluffs and Omaha agents rely on CMA software in order to organize the data in an attractive way. In any case, at this point, your Omaha and Council Bluffs realtor will have arrived at a final determination of the fair market value of your house.

These, then, are the steps a real estate agent in Omaha and Council Bluffs will take to calculate a CMA for your house in Omaha and Council Bluffs Omaha. And it takes a good deal of expertise, knowledge, and experience to get it right. And then your Omaha and Council Bluffs real estate agent has to know how to market your house and close the deal. Chris and her team at Homes By Chris Harter have the experience and know-how to help you with all aspects of selling your house in Omaha and Council Bluffs.

Are you ready to sell a Omaha house? Chris and her Team at Homes By Chris Harter can help! Send us a message or give us a call today! 402-378-9462

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