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Our house is listed on the Multiple Listing Service. I wanted to see how we now compare to what else is on a CMA Comparative Market Analysis of houses within our area and price. Looking at the report I noticed our listing does not show up in the list of houses. The realtor says it's not that important because we show up in Buyers Full Report. Is this true?
When taking out buyers do you pull a CMA first? It seems like a more concise shorter report that is easier to navigate. I just want to make sure by not being on the CMA buyers agents are not missing knowing about our house.
Last edited by Jomaark; 05-31-2008 at 04:09 PM..
Reason: to take off [SIZE=5][/SIZE]
Here, at least, each agent pulls the houses they will use on a particular CMA individually after doing a search of the MLS for similar houses. And, no, I don't do a CMA (which is a LOT of work to do properly) for each house I'm going to show a buyer (remember, we can show many houses - my record is 37 houses in 5 counties in 3-1/2 days, though that was a very special case). When they've narrowed down their choices to a couple/three, I might do a CMA for each of them, though if they are very similar and in the same area, one CMA might work for all of them.
Where are you going to see this CMA you're talking about? Is this something that your agent is preparing for you? You should have 3 houses that are on the market that are similar to yours in most respects (not counting yours among the 3), not just price but square footage, size lot, age, number of bedrooms/baths, does it have a pool or not, one or two stories, that kind of thing, three that have sold within the past few months (used to be six, but with the market changing as quickly as it is, some of us are using the last 3 months now), and 3 that didn't sell (expireds). Assuming that this is possible in your area, of course, and for your kind of house. So, if you've got the comps, and you know what features your own house has, you shouldn't really need to see your own house on the report to be able to compare it to what's out there.
As long as you are in the MLS you are good. When we show buyers we are looking for active listings and only after we narrow down his list do I pull sold homes in the area. Your house just needs to be competitively priced and show in tip top shape.
Hopefully there is a buyer out there that thinks it's number 1 on their list.
Each MLS has some basic reports that are set up in the individual MLS system. In my MLS, I have to run my comps individually, there is no cookie cutter CMA like that for my MLS.
Buyer's agents are going to pull listings based on the criteria given by the buyer. The CMA is just a report and nothing more. It is NOT the listing.
I don't do CMA's for my buyers until we narrow it down to a final home, or a final 2-3. They are a lot of work for a real one.
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Clarification Hopefully
