How Do Real Estate Agent Run Home Value Reports #37

Simple of Comparable Market Analysis Home Value Report

Today want to talk about Home Value Report . Our Team is providing a Home Value Report with Estimate coming from a Computer Algorithm at Some times the Home Value Estimate is lower or Higher then what Your House Really worth . The System hasn’t seen your updates or your neighbors update it only taking in what sold . You will Find other Estimate online like Zillow Estimate and Redfin Estimate . Having the same issues . They are trying to bring something awesome to the customer . A Starting point of knowledge . At the end of the Day nothing bets a Home Value Report from licensed REAL ESTATE AGENT who been in your Home and also can make the right adjustments .

Manual Made Home Value Report

What Goes into a Home Value Report . Also known by Real Estate agent as comparative market analysis (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 .

Steps in CMA

  • Agent Looks at All the Actives, Pending , Sold in the area that are similar to your House (Sqft, Amount Baths,Bedrooms,lot size etc )
  • They then Compare Your property (Subject property ) to the Comparable Properties (Comps) . They pick up to 6 properties 1 or 2 Actives , 1 or 2 pending and 3-4 Sold properties .
  • Real Estate Agent now make adjust +/- to the difference of the Subject Property to Comps .
  • + With Value on Comp if Subject is better
  • – with Value on Comp if Subject is Inferior
  • They also Have look at What I call the X factor is the Subject property close to Highway, private road or on a Steep Hill . This can Be a Factor that be Hard to Find a Value Number to Adjustments to but Buyers wouldn’t be as interest in the property as must as the property in quiet street and level land . ( This were experience as Agent Helps a lot)
  • Agent also Drive By the Sold, Pending if haven’t been in them and visit the Active.
  • Agent then would give you a range from low side to the high side taking all the adjust number from comps to factor . Then they (agent ) would give explanation what the best number for you to get . What you want in your Results? Sometimes times the price is a reflection how fast you like to sell the property .

As you can See what goes in to Manual CMA Report is a lot of work for an Real Estate Agent . So next time you Request a CMA because your Selling or making an offer Remember this Post .

If you like to Track Your Neighborhood and Get a quick Estimate . Use

Day 9 of Gratitude Challenge . Today I am thankful for the ability to Read . This has help me Read for Fun,Work and knowledge .