Comparative market analysis is an essential part of every real estate agent's job. It is used to determine the value of a property through comparison to similar property transactions located within a certain radius. A CMA will accurately establish a list price. It will also guide buyers in deciding on a fair offer. A properly prepared CMA is critical to minimizing time on the market and putting the most money in the homeowners pocket.
A market evaluation will determine the value of your home based on recent sales, but it is also partly subjective. The true value of any home is ultimately determined by how much a buyer is willing to pay for it, and each buyer sees each home differently. A good agent will be able to glean the pertinent information from a market analysis and apply it to a particular property.
All agents have access to the same information. It's important not to allow yourself to go with the agent that tells you the highest price unless they can substantiate the data. That agent probably will also have the lowest commission. If you think you're going to put the highest amount in your pocket, think again. Almost 50% of listings expire in today's market. Don't go with an agent that tells you what you want to hear. Go with an agent that you feel is going to sell your home.