How much does a Realtor charge for doing a CMA

Question

How much does a realtor charge for doing a CMA and a ARF?

Lien Vuong · Answer

Account Closed depending on the area you're living in I'd say the range is $50-125/CMA. For me to do a good comprehensive CMA it would be 45 minutes to 1 hour.

Explain that you already have a property in mind and you'd be grateful to get the assistance of an agent for the CMA nonetheless.

I think that would be a reasonable conversation to be had.

Joel Owens · Answer

Jack time costs the broker/agent money. If you want an evaluation but do not want to pay for a full appraisal then a BPO (broker price opinion) could be an option. It is generally more detailed than a CMA but not as intensive as a full appraisal. Costs to do one depends on if property is in urban core, strong suburban, weak suburban, rural location. Additionally turn around time in days and if drive by exterior pictures only or interior as well adds to costs.

They can run sometimes from 50 to 150 or more but generally cheaper than a full appraisal and a faster turn around in most cases.

If you are looking for people to do free reports for you and get nothing in return that sounds like a flawed business model that might need to be revisited. The rules on BPO's vary state to state and potential payment received for doing them.

Leah Stuever · Answer

They are free. Depending on the agent, they may want a buyers contract first but in general, most will do it for free without a contract.

If you are looking to buy/sell feel free to DM me. I am a real estate agent.

Kevin Sobilo · Answer

Account Closed,in most cases the real value of an agent isn't finding you a property. It is in representing you. Negotiating, advising you on issues related to inspections, etc.

When you find an issue in inspections for example and agent will know better how to approach negotiating it and what the possibilities are to bridge the gap because they have the experience.

If you don't feel as though you would get this from agents you have come in contact with, I suggest searching specifically for one who will. They are out there. Perhaps find an agent who is also an investor.

Kevin Sobilo · Answer

Account Closed, some states might allow you to pay for a CMA/BPO, others have regulations about that.

If you work with a buyer's agent, you can likely get some CMAs done for free, the agent has a vested interest in your success as well. In addition you would get basically free representation as their get paid from the commission offered by the seller.

So, why would you not want to use an agent?

Scott Matthew C. · Answer

@Michael Ablan I disagree with charging that little. As a Broker/Realtor how much are you worth an hour? I’m worth more than $50/hour and so are you!

Leah Stuever · Answer

An agent is unlikely to spend their time doing CMAs for you if you are not going to use them to buy or sell. You would have to do your own CMAs if that was the case.

Account Closed · Answer

@Jack Edward Johnson what area are you looking for?  They are free if you’re going to use that agent for the transaction. I’ve heard of agents charging if that’s all you want out of them, not sure what the going rate is on that though.

Marylin OShea · Answer

Account Closed That's correct, when you complete a transaction the real estate commission that is paid to the buyer agent is actually paid for by the seller. You can read more about the generalities of this process online, for example: https://www.thebalance.com/how-do-buyer-s-agents-g...

So use the benefit of having an agent, even if it could take a year of research (or more!) until you land your deal. Think of the agent as your partner. If that particularly house falls through, he or she may know of other properties coming to market before they are live on the MLS...

Good luck!

Marylin OShea · Answer

Hi there, my points will echo some of the previous replies:

1) a buyer's agent works in your interest beyond "finding" the house (for example but not limited to: open permits? front foot assessment fees? easements? negotiation on price, settlement date, EMD, inspections, etc)

2) hiring a buyer agent is free to you if you buy that house -- because real estate commissions are paid for by the seller. In the state of MD, it's illegal for an agent to represent the interest of both parties, you can't go to the listing agent and expect to save the buyer side of the commission. The listing agent will simply collect it ALL. :)

Of course if you find an investor friendly agent to charge you a reasonable fee for a CMA, then great. But an agent's value (the right agent!) will go FAR behind a $100 CMA. Hire him or her to assist you on the rest of the transaction. Again, it's FREE to you.

If you're unsure, interview some buyer agent's, you can get a feel for their approach and experience. Just a time investment, no $$ required!!

Good luck, and sorry I can't help, I am an agent in Maryland, not familiar with your market. Finding someone who knows the area of interest is critical.

How much does a Realtor charge for doing a CMA

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