Frequently Asked Questions
What is a Comparative Market Analysis (CMA)?
A CMA is a written report of what we think a home is worth based on the information we’ve gathered. It is a compilation of recent sales of similar style homes as close in proximity as possible to the home you are considering purchasing. The CMA looks at value and circumstance as a means of determining an offer price. Some examples of past CMA’s in action are:
Asking Price CMA Homebuyer Assc. Client
Purchase Price
$375,000 $300,000-$310,000 $300,000
$405,000 $375,000-$380,000 $380,000
$265,000 $248,000-$253,000 $251,000
The asking price may be irrelevant and is one of the reasons the CMA is a valuable tool. The CMA research allows you to make an informed choice based on market data – information, not emotion.
What about other companies, don’t their agents see homes first?
No. Traditional agents may tell you that but listings must be entered in the MLS within 24-48 hours of the home being listed for sale. I think some agents tell people that to create a sense of panic. Panic is not good when buying a home.
Any knowledgeable seller and reputable agent will want to expose the home to the full marketplace.
How come there as so few exclusive buyer agents?
Most companies were established years ago and before I invented the concept of buyer agency in the State of Wisconsin. These companies find it hard to change and consequently they have not. Most old line companies now offer buyer agency (not exclusive buyer agency however) but continue to derive 90% of their profits from the sale of real estate and the traditional real estate system. So while you can find a buyer agent at any real estate company you have to believe that buyer agent will work against his/her company’s primary focus, which is to sell homes. I don’t believe they will.
Where is your office?
Our office is wherever my computer is located. Many years ago, where your office was located dictated where you worked. We are an information service based real estate company that works the four county areas of Milwaukee, Waukesha, Ozaukee and Washington Counties. I’ve actually represented buyers in Sanibel, Florida and Vail, Colorado. Office location is no longer relevant. Research, service and information gathering are what matter…not a company address.
Will we see all the homes on market?
You will see all of the homes on market which meet your spatial, location, style and financial wants and needs. You may even see some homes which aren’t on the market. Homebuyer Associates is a member of the MLS which is a listing of all homes on market by Realtors in the four county area. It will benefit you to use Homebuyer Associates because we will look at any home on market whether listed by an agent or For Sale by Owner.
By the way, some agents make more money if they sell their own company listings which could cause one to ask, will I see all the listings? At Homebuyer Associates we don’t have that conflict of interest so you will see all the homes on market.