With all of the recent talk about home prices soaring, tough buyer competition and what a seller’s market it is, you may be thinking about selling your home too!
As a Realtor in Metro Orlando (specifically Saint Cloud, Kissimmee, Lake Nona and Harmony), I’ve seen, first hand, how quickly homes can sell once they are listed. That said, the home has to be ready to sell (see Staging Your Home: How to Prepare Your House For Sale and 10 Ways to Boost Your Home’s Curb Appeal) and it needs to be priced right.
So, how do you know how much to list your home for? That’s where a professional realtor® comes in. Many realtors will gladly provide you with a Comparable Market Analysis (CMA) to help you determine a fair selling price by comparing your property to similar properties in the area.
The first thing you will need to do is provide some basic information to your real estate agent; such as; the square footage of your home, if you’ve done any renovations, etc. If you plan to make any changes or do any renovations prior to selling, you should let the agent know in advance.
The next step is for the agent to obtain data on comparable properties, which they will extract from the MLS (Multiple Listing Service) and their local knowledge of the area. This will give the agent an idea how much your property is worth in the current marketplace. It is important to note that a CMA is not an official appraisal. An appraisal must be performed by a licensed appraiser.
If you are in the market to buy a home, you should consider requesting a CMA for properties that you are seriously considering. This will help to determine whether the asking price is fair in the current marketplace.
You can see why a comparative market analysis is important. If you are in the Orlando metro area, specifically Southwest Orlando or Osceola County, I would be happy to provide you with a free comparative market analysis for your property!
All my best,
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