What Does a CMA Mean in Real Estate?

Learn how a comparative market analysis or comparables helps sellers and landlords get the most accurate value for their property.

Determining the right price for the property you’re selling or renting is one of the most critical decisions you need to make. Overpricing could lead to a stale listing, while underpricing will make you lose profit. But how can you make sure you’re making the right choice? This is where comparables or comps come in. Let’s break down what comps mean and how you can use it to get the best value for your property.

“While online tools provide a quick valuation, comparables provide the most accurate value.”

Comps are used to compare properties to estimate your property’s value. You may also have heard the term Comparative Market Analysis (CMA), which is a method used to assess pricing based on:

• Square footage
• Bedroom and bathroom count
• Location

If you’re renting a three-bedroom home here in Charleston, you need to look at the prices of similar properties. This way, you can set a competitive rental price to attract tenants and maximize your investment.

The key to smart pricing is making sure that the price is right. If you want to know how much your property can rent or sell for, contact us at 843-212-4065 or visit charlestonspropertymanagement.com to learn more. I look forward to hearing from you!