The best way to make sure you get this right is by hiring a qualified real estate agent, who can provide you with a Comparative Market Analysis (CMA). If you’ve never had a CMA done on your home before, or perhaps aren’t familiar with the term, a CMA is “an examination of the prices at which similar properties in the same area recently sold. Real estate agents perform a Comparative Market Analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home” (Investopedia). I’m happy to provide you with a CMA for your home while you go through the process of downsizing.
YOU PLAY A BIG ROLE
You—yes, you —will play a major role in selling your home and pricing it accurately and realistically. You probably now realize that there is no calculable certainty in setting the value of a home. The amount can vary widely from the market value to the appraisal value to the assessed value—and eventual sales price. Also, the current market conditions will affect pricing strategy (seller’s market vs. buyer’s market vs. neutral [balanced] market). So where do you come into play? The partnership relationship between the seller and the agent will factor in in a major way when pricing a home and getting the desired results. The keyword is “partnership.” Even the very best real estate agent’s efforts can be derailed when the seller doesn’t cooperate. For example, the agent can market the property professionally and bring in several qualified buyers, but then the deal is blown because the seller didn’t uphold their end of the bargain (didn’t clean out the garage, didn’t add a fresh coat of paint, forgot to remove the pets, etc.). It’s not all up to the agent you hire. It’s also
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