Value is difficult to determine.
In the real estate business, however, finding the value of a property is an essential part of being successful. Buyers, sellers, and the real estate agents themselves depend on determining the value of a property. There are several tools that appraisers use when they are attempting to determine the value of a property before they come up with a list price or an officer that a client will make. With the use of comparative market analysis (CMA) numbers, realtors are able to help their clients determine the most accurate value of any property that is being bought and sold.
In fact, CMA software for realtors helps streamline the process of looking at many figures to make sure that a property is properly priced and that an offer is properly researched.
Comparative Market Analysis Research Provides Many Benefits
There are a number of kinds of real estate software, but one of the most powerful is a platform that calculates the comparative values of residential, commercial, and mlx real estate. These numbers allow agents to help their clients make the most informed decisions on both listing prices and offers. Consider some of these facts and figures about the real estate market and the challenges that realtors, buyers, and sellers face whenever they get ready to assign a value to a property:
- A number that is only expected to increase, Millennials and Gen Yers made up about 34% of home buyers in the year 2017.
- 19% of all homes sold in the year 2016 were purchased for investment purposes.
- The 10 most valuable metropolitan areas in the U.S. are worth $11.3 trillion, which represents 36%, of the total U.S. housing stock.
- $31.8 trillion is the cumulative worth the of all the homes in the U.S.
- The homeownership rate in the United States was the lowest it has been in 50 years in the year 2016.
- 80% of residential growth in the next decade will happen in suburban communities.
Beauty may be in the eye of the beholder, but the value of a real estate property is a little more easy to determine. Though still complicated, it is possible to establish an accurate value of a property with the use of a reliable comparative market analysis software package.