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When
you
and
your
REALTOR®
sit
down
to
analyze
comparable
homes
and
recent
sales,
you
may
find
that
prices
of
homes
similar
to
yours
can
be
thousands
of
dollars
apart.
It
is
tempting
to
pick
the
highest
price
and
say,
“Let’s
list
it
here.”
That’s
a
strategy
that
usually
works
in
an
accelerating
market,
but
what
if
your
neighborhood
is
flat
or
declining?
Would
you
pick
the
lowest
price
and
list
it
there?
Probably
not.
That’s
why
pricing
your
home
is
as
much
an
art
as a
science.
The
science
of
home
price
analysis
As a
home
seller,
the
science
is
choosing
the
right
price
at
which
your
home
will
sell.
How
do
you
do
that?
By
analyzing
your
local
real
estate
market
conditions.
You
want
the
highest
price,
while
the
buyer
wants
to
pay
the
lowest
price.
The
only
way
your
home
will
sell
at
the
highest
price
possible
is
if
your
buyer
agrees
to
your
home’s
value.
To
best
determine
market
value,
you
have
three
important
tools:
CMAs,
appraisals,
and
your
REALTOR’s®
knowledge
of
the
market.
The
comparative
market
analysis
A
comparative
market
analysis
(CMA)
is a
side-by-side
comparison
of
similar
homes
for
sale
and
recently
sold
homes
in
your
neighborhood.
CMAs
are
composed
of
data
compiled
for
comparison
purposes
by
your
REALTOR’S®
multiple
listing
service
(MLS.)
REALTORS®
use
CMAs
to
illustrate
the
range
of
homes
in
the
marketplace
and
the
features
that
make
them
unique,
including
age,
location,
number
of
bedrooms,
baths,
room
sizes,
updates,
condition,
etc.
As a
seller,
you
should
be
able
to
see
where
your
home
fits
– in
the
top
or
lower
price
range
of
similar
homes.
Buyers
get
CMAs
from
their
practitioners
to
help
them
understand
the
selection
in
the
market,
and
to
prepare
them
to
make
an
offer
on a
listing.
CMAs
are
typically
used
by
buyers
and
sellers
before
an
offer
is
made.
The
appraisal
An
appraisal
is a
market
analysis
performed
by a
professional
appraiser
using
a
variety
of
sources,
including
MLS
data
and
conforming
loan
formulas.
Appraisers
most
often
work
for
lenders
to
determine
market
values,
so
that
lenders
can
weigh
the
risk
of
making
a
loan
to a
home
buyer.
Appraisals
come
after
an
offer
is
made
when
the
buyer
applies
for
a
loan.
Even
though
the
buyer
pays
for
the
appraisal,
the
lender
uses
it
to
determine
whether
or
not
to
make
the
loan
at
the
contract
price.
Buyers
have
one
advantage
over
sellers
when
it
comes
to
appraisals
–
their
bank
has
the
last
word.
If
the
appraisal
doesn’t
meet
the
contract
price,
the
bank
refuses
to
make
the
loan,
unless
the
seller
agrees
to a
new
contract
price.
You
can
hire
an
appraiser
to
help
you
determine
at
what
price
a
bank
will
loan
a
buyer
money
to
buy
your
home.
The
art
of
the
deal
It’s
your
REALTOR’S®
knowledge
and
experience
in
the
local
market
that
can
take
the
numbers
and
put
them
with
other
market
conditions.
She
or
he
will
help
you
read
the
market,
and
help
you
choose
the
right
price,
based
on
current
trends
analysis
and
news.
Her
experience
with
current
customers
tells
her
how
buyers
are
behaving
today.
Are
they
paying
top
dollar,
or
saying
they’re
waiting
for
prices
or
interest
rates
to
drop?
His
network
of
contacts
provide
valuable
intel
into
whether
other
sellers
have
run
into
problems.
He
helps
you
avoid
the
same
issues.
For
example,
did
another
seller
lose
a
deal
due
to
an
inadequate
disclosure
or
bank
appraisal?
Your
REALTOR®
knows
your
motivation,
what
you
need
to
get
out
of
the
home
financially,
and
your
terms.
While
it’s
her
job
to
help
you
meet
your
goals,
it’s
also
her
job
to
help
you
face
the
realities
of
the
current
marketplace,
whatever
they
are.
His
job
is
to
help
you
price
your
home
high
enough
that
it
sells
quickly,
without
sitting
on
the
market
longer
than
you
can
afford.
By
the
same
token,
his
job
is
to
make
sure
that
you
don’t
list
so
low
that
the
market
questions
the
condition
of
your
home.
And
that’s
where
the
art
of
the
deal
comes
in –
putting
all
the
moving
parts
of
the
market
together.
It’s
an
art
and
a
science
Ultimately,
you
are
the
one
who
will
choose
your
listing
price,
based
on
your
understanding
of
all
the
data.
And
the
results
will
tell
the
tale.
You
can’t
list
and
sell
your
home
for
any
more
than
a
buyer
is
willing
to
pay.
And
that
makes
pricing
it
right
both
an
art
and
a
science.
Contact
Me
I can help you with every
aspect of buying or selling your home because I’m
experienced, because I am a Better Homes and Gardens
Rand Realty Real Estate Professional . . .and because I
care.
As
your
Better
Homes
and
Gardens
Rand
Realty
Sales
Professional,
I
will
provide
you
with
the
information
you
need
to
make
an
educated
decision.
The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.
For assistance with any of your real estate needs, please contact me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question - no pressure, no hassle, no obligation - just a friendly conversation. I would welcome the opportunity to make a difference for you. |
