Getting ready to sell your home? Find real estate comps.

When you are ready to sell your home, you will need to know the true value of your property. This can be achieved by a comparative market analysis. A CMA will look at the age of the home, property location, design and build, condition, and size among other factors. CMA’s can be helpful in buying and selling as well as investing and making housing market predictions. Comps are determined by a licensed appraiser or a real estate agent. Appraisers and real estate agents choose similar properties in the same neighborhood and use them to establish a basis for estimated value.

There are many potential parties use to the comps. Sellers, buyers, real estate agents, appraisers, banks, investors, and attorneys each have an interest in knowing a property’s estimated value. Sellers need to know this value to correctly list their home to sell. While this market has been hot for sellers, overpricing leads to failing to sell. Many buyers are not willing to overpay for your home. Banks also will not be willing to over lend for a property if it does not agree with the appraised value. Likewise, under evaluating the home leads to not fully profiting from the transaction.

Selling a home for the correct price is an critical skill that every real estate agent must possess. Also, real estate agents need to guide home buyers understand the market value of the property and offer accordingly to the value. Buying? Selling? Contact Kiamie Real Estate today to set up an appointment with one of our agents!