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Albuquerque real estate with Fred & Sandra Creek. We offer a resource for buying & selling real estate in Albuquerque & surrounding areas. See our property listings for the Albuquerque Metropolitan area.

Buying or selling a home? - Get a market analysis!!

ABQhomes® - Monday, March 07, 2016

Also called a CMA, comparative market analysis, BPO, brokers price opinion, market analysis - it’s information you should get from your agent. I recently heard a first time home buyer explain what they’ve been going through to buy their home. They worked with two agents and neither one prepared a market analysis for any of the homes they made offers on. They were asked what they wanted to offer and that’s what the agent submitted. One agent never prepared a purchase agreement! They called the listing agent with a verbal offer. That’s another blog altogether!! I felt so bad for this young couple. They knew nothing about getting sales data for similar properties in the surrounding neighborhood. They were in contract but didn’t know what similar homes in the neighborhood were selling for. The seller accepted an offer they made - a number they just came up with after their agent asked what they wanted to pay. Now they’re wondering if they paid too much. It’s hard for me to believe this still happens, but if a buyer doesn’t know what to expect they can’t make sure the process is working for them. Tell your friends to call a conscientious, experienced agent.

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