Tom Mullen

LICENSE: 471.009915


(847) 980-5797
(847) 495-5000 (Office)

My Blog

CMA in Real Estate, Explained

Posted On: July 19th, 2017 9:48PM

What’s one of the most important steps to take when selling your home?  Determining its value, of course!

There are many factors to take into consideration when establishing your home’s correct value. These include its location, age, size, condition, and what other homes like yours are selling for at this moment.

Real estate agents provide a valuation for your home in a report called a CMA (comparative market analysis). Knowing how to properly prepare a CMA is a big help when setting your home’s selling price and estimating the time it will take to sell.  As a REALTOR®, I take this responsibility seriously. My research efforts are thorough and I explain my findings to you in detail.

Here are more key points to keep in mind:

  • There is a difference between a CMA and an appraisal. The CMA is based on the proper market price and is performed by the agent who has first-hand knowledge of the local market. An appraisal can only be provided by a licensed Appraiser, who is usually independent and works for a bank. Both of these reports serve a purpose; I counsel my clients on what’s best for their situation.
  • REALTORS® have access to proprietary homes sales information because we are members of our local Multiple Listing Service.
  • Home values you may see on home search websites are most often NOT accurate.
  • Even if homes seem similar on the outside, there can be big difference in their amenities, condition, etc. I know how to discern and value these differences.
  • The best CMAs are created AFTER an agent sees your home.

Contact me when you are in need a comprehensive CMA. My efforts have your best interest in mind at all times, and remember… I explain my findings so you have a clear understanding of yours home’s value.

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Summer Home Sales in Northwest Chicago Suburbs

Posted On: June 12th, 2017 10:19PM

Here’s an update on are home sales activity.

I had the pleasure of selling Angela & Jason Stanisz' home at 3212 Brookmeade Dr. in Rolling Meadows. I sold it in 2 1/2 days. There were 12 showings and three offers, two were over the asking price! Awesome!

 If you're thinking about making a move, now's the time. Give me a call and put the "Hometown Advantage " to work for you. Check out the 1-minute video below.

By the way, we found this awesome family a great home in Barrington for a smooth transition. We know they will enjoy the big shades tree and room to play outside!

Contact me for professional real estate services if you are considering a move.

 

 

 

 

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Spring Home Sale Update - Northwest Chicago Suburbs

Posted On: May 11th, 2017 8:33PM

What a busy 2017 Spring selling season!  Let me share with you recent home sales activity and details for my market, the Northwest suburbs of Chicago. I don’t see signs of a slowdown anytime soon, so contact me if you are considering selling.

 

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Palatine Home SOLD in 2 Days!

Posted On: April 14th, 2017 6:20PM

Just closed 243 Old Bridge Rd. in Palatine. Sold in three days for 98+ percent of the asking price! Awesome sellers market! Let me do a great job for you. It would be an honor to be considered as your trusted real estate advisor. 


 

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FSBO? Why You Should Use Me to Sell Your Home

Posted On: March 17th, 2017 3:48PM

We are all influenced by the ease with which the web allows us to transact. We can shop, book travel, and browse homes for sale, without leaving the comfort of our couch. If you are thinking that this ‘online access’ is reason enough to sell your home by owner, think again.

As an experienced REALTOR®, I have first-hand knowledge of home sales and the real estate market. Here are my reasons why it is not wise to become a FSBO (For Sale by Owner):

More exposure

Most prospective buyers don’t buy print newspapers anymore. When searching for a home, they will most likely use sites such as REALTOR.COM, Trulia, Zillow and others. These databases of homes come from the Multiple Listing Service (MLS) syndication. The MLS is proprietary to real estate licensees only, individual home sellers cannot list their home here. Sites receiving the MLS listings have sophisticated ways to showcase properties and use photographs, virtual tours and marketing principles. They also capture the buyer’s details, something difficult for you as it’s impossible to be online 24/7 to follow leads.

Larger profit

FSBO’s and some buyers believe that they save money by avoiding paying commission.  The average house usually sells for more when sold by a REALTOR®, allowing the seller to make a profit even after paying the commission. 

Faster sale and less personal involvement

Real estate websites have a larger database of potential buyers allowing more people to view your home and faster. No signage on the curb, attracting browsers, instead of serious buyers! I show your home at a time most convenient to you and only to serious buyers.

 Negotiating and paperwork

I am fully qualified to help you price your home correctly. You won’t personally have to haggle with the potential buyer, his attorney, home inspection companies, appraisers or your bank. You might also need to find the titles of your home. The paperwork involving the sale of properties has become complicated and must be completed correctly.

Give me a call and let me sell your home in an uncomplicated and professional way!

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