By: Chris Linsell
In reply to <a href="https://theclose.com/how-to-do-a-comparative-market-analysis/comment-page-9/#comment-402902">Jason Cannon</a>.
Hi Jason!
If you're working in a major metro market where a square foot in one apartment is pretty equivalent to another, you can get away with doing a completely virtual CMA. However, if you want to understand the finer details of a property, and get the intimate details from the owner, you've got to put your feet in the property.
Chris
By: Jason Cannon
So you dont have to actually go out and look at the property at all?
By: Lonnie Bradford
I am a new agent and am familiar with doing comps. I struggle because I service a rural area and there are very few comps that are the same or close to the same. It is largely due to land. Some comps have 1-2 acres and others have 5 to 6 acres. Then there is the square footage. So many variables. The closest I can get is year built. I am going out to a 10 mile radius. How do you compensate for more or less acreage and more or less square footage? It's the adjustments that get me.
Lonnie Bradford
Worth Clark Realty
By: Laurence
Thanks so much. I am a New Agent and I am delighted to learn as much as I can.
Laurence R.
By: Chris Linsell
In reply to <a href="https://theclose.com/how-to-do-a-comparative-market-analysis/comment-page-8/#comment-342769">Debra S. Kirby</a>.
Hi Debra -
Glad to help, and glad to have you here as a part of Real Tactics Pro community. You're going to crush it, I just know it :)
Chris
By: Debra S. Kirby
Thanks so much for this comprehensive breakdown. Preparing my first CMA, nervous and happen to fall upon this article!
By: Chris Linsell
In reply to <a href="https://theclose.com/how-to-do-a-comparative-market-analysis/comment-page-7/#comment-338130">JULIO PAUCAR</a>.
Hi Julio -
You bet, happy to help.
Chris
By: JULIO PAUCAR
Thank you, Chris, for your valuable information.
By: Chris Linsell
In reply to <a href="https://theclose.com/how-to-do-a-comparative-market-analysis/comment-page-7/#comment-310331">Maria</a>.
Hi Maria -
Thanks for the question. Unfortunately, there's no universal table or list that you can use to make these adjustments - they'll depend on your specific market. There will need to be some estimation on your part for your market conditions and circumstances, and while you're unlikely to get it 100% correct right out of the gate, the more you do, the more accurate you'll get.
Good luck!
Chris
By: Maria
How would I know those price adjustment values? Is there a specific table or list to follow?
Thank you. This is so valuable.