Comparative Market Analysis By Mike Stewart Vancouver RealtorMP4
http://www.mikestewart.ca/blog/2009/1 ...
What is a Comparative Market Analysis?
Is the process it uses to ascertainable Realtors The Market value of The Properties THEY market.
How do I do a Comparative Market Analysis?
1) Visit the property!
The first thing I do When Requested to do a Comparative Market Analysis Is To Physically Visit the property. Visiting the property is its key! In my opinion, it IS possible to get year Accurate idea of market value was property Without Seeing the property.
2) Analyze Only What I Know. Local Expertise is Key!
I Can only do one year Accurate market analysis properties I know and am familiar With That are Within my area of specialty geography (Vancouver). If I am Asked to do a market analysis was property That Is Outside of my geography expert, I Will ask to reseal year to The Client area expert. Always hire expert area year!
3) Calculate a Price List is based Reporting and Current Information.
Once I Have Seen the property, I look at comparable (Similar square footage, age, type of construction materials, number of bedrooms, number of bathrooms, etc.) properties In The Area That Have The Last sold in 30-90 days "as well as That Are Actively nearby properties listed On The Market. I use MLS data as well as information on private non-MLS sales. In a stable market price of properties sold The Will Have more relevance and in a more volatile market, Asking Prices Will Be more falling. How long thesis comparable properties Have Been On The Market "as well as Overall Market Conditions and Trends Will Also my color analysis. Canceled, expired listings and Will Also Have an Impact on Their over optimistic based pricing.
4) A Clear and Present Report Understand WITH ALL Reporting Data That Supports The List Price.
Once I Have Completed my Comparative Market Analysis, I Will email has postponed That Will Have All Of The Data That I Used to come to my conclusion.I Then Call the customer and explain to Discuss The Analysis And The conclusion. The Comparative Market Analysis "should make sense to a potential seller and a Realtor Should Be Able to make a convincing argument For the recommended list price based On the data. A Comparative Market Analysis Should Provide You With The Data The findings are based on.
