Preparing questions for a professional comparative market analysis
Equip yourself for a successful home sale by preparing targeted questions for your Illinois agent’s comparative market analysis.
The short answer
A comparative market analysis (CMA) provides data-driven context for your home's value. To make this tool effective, prepare questions that force a deep dive into the methodology, selection of comparable properties, and adjustments for condition. This ensures you are not just seeing a price, but understanding the market logic behind that valuation.
Understanding Comparable Selection
Ask your agent how they selected the 'comparables.' Are they truly similar in size, location, and age? A well-prepared CMA uses data that mirrors your property's attributes.
Planning Example: Review the CMA report provided by the agent. Cross-check the 'comparables' list with your own knowledge of the neighborhood to ensure they are actually similar.
Clarifying Adjustments
Ask specifically how the agent adjusted for differences. For example, if your home has an extra bedroom or a renovated kitchen compared to a sold property, how was that reflected in the value estimate?
Ask your professional: 'What percentage or dollar amount was adjusted for the difference in condition between my home and these sold properties?'
Market Trends vs. Historical Facts
Focus on recent sold data rather than listings that are currently active. Active listings show what people are asking, but sold listings show what people are actually paying. Your questions should revolve around the 'closed' evidence.
Avoid asking for market predictions; instead, focus on the historical data presented in the report.
Preparing for the Discussion
Before your meeting, review your property's 'story'—your upgrades, unique features, and any known defects. Present this clearly so the agent can account for it in the CMA.
If your home is in an 'as is' condition, ensure the CMA reflects how that specific factor impacts the valuation compared to turnkey homes.
Checklist
- Review the list of comparable properties included in the CMA.
- List your home’s unique upgrades that might not appear in basic tax data.
- Prepare questions about how age and square footage adjustments were calculated.
- Compare the 'sold' dates of the data to ensure they reflect current activity.
- Ask how your home's 'as is' condition affects the valuation relative to other sales.
Common questions
How do I know if the agents' comparable sales are accurate?
Ask for the source of the data used in the CMA. Cross-reference the sold prices and property descriptions with public records or recent MLS information.
Can I request more comparable properties if I feel the list is insufficient?
Yes, discuss with your agent why certain properties were excluded and ask if they can provide additional data points for comparison.
Sources
- Illinois Residential Real Property Disclosure ActChecked October 12, 2026
- IEMA-OHS — Real estate radon guidanceChecked October 12, 2026
- IRS Publication 523 — Selling Your HomeChecked October 12, 2026
- EPA — Real estate lead-hazard disclosuresChecked October 12, 2026
- SQFT IO — Listing plans and termsChecked October 12, 2026
This guide is general educational content from SQFT IO, prepared with AI assistance. It is not legal, tax or loan advice. Talk with a licensed attorney, tax professional or lender about your situation. SQFT IO Illinois license 478.027617.