Preparing an Accurate Comparative Market Analysis
Posted by: Marten W. Davis, SRPA in Business, tags: BusinessMany Realtors ask us how to prepare an accurate Comparative Market Analysis. The following is an outline of presentations given at Realtor Training Sessions.
Use a subdivision specific search as the first step, in both MLS and Public Records.
Use recent data - no more than 3 months if possible. Especially important in a changing market.
Sort by Living Area (if subject is 1250 SF then search from 1150-1350)
Eliminate sales having major differences (pool, water, room count, etc).
Search by Grid if there are not 5-10 sales within the subdivision fit 1-4 above (be sure to screen by size and eliminate major differences).
Place sales on market grid in order to see major differences and be able to adjust for these differences.
See the Sample Market Grid: gulf-to-bay-appraisals.com/Market_adjustment_grid.pdf
Marten W. Davis, SRPA
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