Q.  What is a CMA?

A.  CMA is short for Comparative Market Analysis.  The CMA helps illustrate market value using properties that match as much as possible to your property’s characteristics. The purpose is to determine a fair market value for your property and to help you decide the proper listing price. In evaluating your property I use many of the same tools that appraisers use provided from the local multiple listing service but rather than providing you an appraised value of the property I provide a market price range that supports as much as possible the market value of your property.

Marketing Your Property

The 3”P”s of marketing (price, presentation and promotion) apply to real estate just as much as they apply to any other product or service. The biggest of these “P”s is Price.  If the property is priced too high then your property will sit on market for a long time and may never sell.  You need to be aware of what the market is doing and price your property accordingly. This is why you need to see a comparative market analysis before listing your property. If the presentation, functionality or the curb appeal of your property is lacking may also be a cause for your listing to be on market for a long time while competitive listings that have good curb appeal and are priced right will receive more buyer attention. If the property is not promoted then buyers will not know that the property is for sale.

I will promote your property primarily through online marketing. Having a great web presence is essential because the majority of buyers are using the internet to research the area they want to live in and the property they want to own. Buyers will research the Realtors they want to work with and engage with Realtors® via websites and e-mail possibly more now then through traditional means like a phone call.

The property needs to look its best online, I use a large number of photos to help market listings.  A virtual tour is an essential part of an online marketing campaign and it can be done in many ways.  I have been doing virtual tours using a slideshow presentation of the property.  For Luxury homes and unique properties I am going a step further and integrating video into virtual tour presentations.

Once I post your property into the California Regional Multiple Listing Service and Bay Area Real Estate Service, it is syndicated to many other online web services including Realtor.com, List Hub, Yahoo, Zillow, HGTV Front Door, and many other online real estate websites and resources.

Your listing will show up as a featured listing on my website and KonoctiRealty.com and is searchable from the Lake County Association of Realtor’s website.

Ways to Speed Up Your Sale

  1. Price it right. Set a price at the lower end of your property’s realistic price range.
  2. Get your house market-ready for at least two weeks before you begin showing it.
  3. Be flexible about showings. It’s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a buyer and get an offer.
  4. Be ready for the offers. Decide in advance what price and terms you’ll find acceptable.
  5. Be willing to counter if necessary.  I always feel it is better to come to the table even if the offer seems insulting.  You can always counter back to the asking price or possibly meet the buyer in the middle.  Sometimes sellers need to be willing to detach themselves from the property if they want it to sell, especially when selling in a buyer’s market.
  6. Don’t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price. The phone will ring and the property will sell when it is priced at market value.

Things to do before you sell

1. Get estimates from reliable repairpersons on items that need to be replaced soon, a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.  If you can do some of the repairs before selling is a plus.

2. Have a termite inspection to prove to buyers that the property is not infested. Lenders will require that pest repairs be done before lending so if you want to attract more qualified buyers it is best to have a clear pest report. Ask me for a list of local termite inspection companies.

3. Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract. Ask me for a list of home inspectors.

4. Gather together owner’s manuals, warranties and guarantees on the furnace, appliances, and other items that will remain with the property.  

5. List material facts that you will need to disclose to a buyer. Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

6. Make the property ready to show.  Keep the place clean, Remove trash and debris, spruce up the inside and outside. First impressions do mean a lot to a buyer and the sharper image may really help you get you a better price.  This does not mean spending a fortune doing property upgrades.  Most of what you can do to improve curb appeal are simple and should not cost a lot.  Even if you are selling a fixer-upper presenting a neat and clean yard will make a difference to a buyer.

7. Hold a Yard Sale – Use a yard sale to reduce the clutter in your home and on the property and get rid of items you don’t want to move.

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