I still see Beacon Hill real estate agents advertising free CMA’s. A CMA is a competitive or comparative market analysis designed to answer the questions: “How much is my condo worth?” or more accurately “How much is it likely to sell for?”
Knowing how much a home is worth or likely to sell for is useful or those who are planning to sell. However I have never heard of a Boston real estate agent charging for a CMA, therefore all CMA’s provided by real estate agents are free and the advertising seems misleading. Kind of like marketing gluten free apples when apples don’t have gluten in them in the first place.
That might be a bad analogy but you know what I mean. CMA’s should not be confused with appraisals done by banks for the purpose of using real estate as collateral for a loan.
Boston Real Estate and the Bottom Line
In a CMA an experience real estate agents finds three comparable properties that were recently sold in an area close to the home that is being priced and uses the information to come up with a likely sale price. We use a kind of fuzzy logic that computers don’t seem to get. It is part art and part science and it does help to actually see the home in person but that isn’t required.
. . and yes call or write and I’ll do a “free” CMA
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