If you want to sell your home, here’s a fact: you don’t set the selling price of your home, the market does.
A comparative
market analysis (CMA), as prepared by your real estate listing agent, takes the
emotion out of deciding on the asking price. It’s based on fact, not how you
feel about your home, and it helps determine how much you can sell your home
for. A CMA uses comparables (similar homes previously sold in the area). It
will look at their sales prices, how long they were on the market, and the
difference between their selling and listing prices.
This analysis
should be complete before you set your asking price. Depending on many factors,
including the CMA, you may decide on an asking price within a $10,000 to
$25,000 range of your home’s value. Here you’ll need your agent’s best advice –
based, of course, on the CMA as well as your agent’s knowledge of the market.
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