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Writer's pictureJimmy Ly

Calculating List Price for Sellers


calculating listing price for sellers

A Comparative Market Analysis (CMA) is a tool used by real estate agents to determine the value of a property. This analysis is important for sellers, as it helps them set a realistic asking price for their property.


When performing a CMA, I follow a simple yet effective process that delivers results:


1. Property Visit: I start by physically visiting the property to get a first-hand feel of its features and condition. This allows me to make an accurate assessment of the property's value.


2. Local Expertise: My expertise is limited to properties within the Metro Vancouver area, so I only analyze properties I am familiar with. If the property is outside my area of expertise, I refer my clients to another expert in that area.


3. Relevant Data: To determine the market value of a property, I gather data on similar properties that have been sold and are actively listed in the area. I consider factors such as square footage, age, number of bedrooms, bathrooms, lot size, and more. I also take into account the current market conditions and trends, as well as the impact of cancelled and expired listings.


4. Clear Report: After my analysis, I present my findings in a clear and easy-to-understand report. I provide all the data that supports my conclusion and am available to discuss and explain my analysis to my clients. My goal is to provide them with a convincing argument for the recommended list price based on the data and make sure that the CMA makes sense to them.


Find out what the value of your home is!

Call me: 604-842-5808

Email: jimmy@jimmylyrealestate.com

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