To new Investors...Bad CMAs can cost you a lot!!!

[Ricardo G.]

If you're new-ish, please make sure you get a good Realtor who understands the market and takes their time to NOT ONLY complete, but also ANALYZE the comparables (CMA).

2 days ago, I got all excited when certain realtor told me we could sell my rental house for quite a bit more than what I had thought.

I had my doubts so I requested that she dend me an email whith the properties she had used on the CMA. Long story short... Only one house was a true comparable,

the others where either duplexes, bigger, with more ammenities, or fixer uppers.

If there were no other recently sold houses in the area I would understand using "what's available".  but in this particular case, houses are being bought and sold frequently enough.

Either the realtor was trying to get the listing (even if this meant letting it sit for months on the MLS, or she didn't really know how to properly do a CMA.

I'm still not too experienced so I welcome and encourage anyone's contributions. Thanks everyone and I wish you all lots of success.