Selling your home is not as simple as it appears.
Before you sell your home, you will need to get a CMA.
CMA is the term real estate agents use when they conduct an in-depth analysis of a home’s worth in today’s market. The value of your home is much more difficult to predict and the information available to home sellers can be untrustworthy. Online home valuation sites are fun to play with, but they are based on past sales, not current market factors.
The best method available to home sellers to learn their home’s current value so they can select the best sale price is a CMA, or Comparative Market Analysis.
If you don’t get a CMA before you list your home you might try to sell it for the wrong price. Setting the price too low means you’ll get less money for your home; setting it too high means it might not sell at all. A good real estate agent should complete a CMA on a home before listing it on the market.
First, find a Real Estate Agent that you trust and feel comfortable with That agent will walk through your home to evaluate the condition along with confirming the number of bedrooms and bathrooms, additions, etc. The home does not have to be in perfect condition. However, property condition does affect price, so if you plan to do work on the property, let the agent know. At this point the agent may recommend improvements to increase your home’s value.
Second, the agent will research information about comparable properties in the area, usually using a real estate industry resource called the Multiple Listing Service. This includes:
- Properties that have sold and closed within the last 12 months
- Active listings – properties currently for sale
- Pending sales – listings that have sold but not yet closed
- Expired listings – properties that did not sell during the listing period
Would you like to know how the market has affected the value of your home?
Contact the Kerwin Pacific Team for a FREE Market Analysis. We would be thrilled to help you.