Comments on: How to Do a Comparative Market Analysis: A Step-by-Step Guide

By: Chris Linsell

Chris Linsell — Fri, 27 Jan 2023 19:17:03 +0000

Hi Jason!

If you’re working in a major metro market where a square foot in one apartment is pretty equivalent to another, you can get away with doing a completely virtual CMA. However, if you want to understand the finer details of a property, and get the intimate details from the owner, you’ve got to put your feet in the property.

Chris

By: Jason Cannon

Jason Cannon — Wed, 25 Jan 2023 21:38:24 +0000

So you dont have to actually go out and look at the property at all?

By: Lonnie Bradford

Lonnie Bradford — Mon, 09 Jan 2023 15:53:17 +0000

I am a new agent and am familiar with doing comps. I struggle because I service a rural area and there are very few comps that are the same or close to the same. It is largely due to land. Some comps have 1-2 acres and others have 5 to 6 acres. Then there is the square footage. So many variables. The closest I can get is year built. I am going out to a 10 mile radius. How do you compensate for more or less acreage and more or less square footage? It’s the adjustments that get me.
Lonnie Bradford
Worth Clark Realty

By: Laurence

Laurence — Wed, 14 Dec 2022 05:32:22 +0000

Thanks so much. I am a New Agent and I am delighted to learn as much as I can.
Laurence R.

By: Chris Linsell

Chris Linsell — Mon, 08 Aug 2022 14:35:11 +0000

In reply to Debra S. Kirby.

Hi Debra –

Glad to help, and glad to have you here as a part of The Close community. You’re going to crush it, I just know it 🙂

Chris

By: Debra S. Kirby

Debra S. Kirby — Sun, 07 Aug 2022 13:05:24 +0000

Thanks so much for this comprehensive breakdown. Preparing my first CMA, nervous and happen to fall upon this article!

By: Chris Linsell

Chris Linsell — Fri, 22 Jul 2022 13:17:33 +0000

In reply to JULIO PAUCAR.

Hi Julio –

You bet, happy to help.

Chris

By: JULIO PAUCAR

JULIO PAUCAR — Wed, 20 Jul 2022 23:02:56 +0000

Thank you, Chris, for your valuable information.

By: Chris Linsell

Chris Linsell — Mon, 14 Mar 2022 13:52:41 +0000

In reply to Maria.

Hi Maria –

Thanks for the question. Unfortunately, there’s no universal table or list that you can use to make these adjustments – they’ll depend on your specific market. There will need to be some estimation on your part for your market conditions and circumstances, and while you’re unlikely to get it 100% correct right out of the gate, the more you do, the more accurate you’ll get.

Good luck!

Chris

By: Maria

Maria — Sat, 12 Mar 2022 09:54:18 +0000

How would I know those price adjustment values? Is there a specific table or list to follow?

Thank you. This is so valuable.