Selling your home is more than just packing your belongings into a moving van and sticking a “For Sale” sign in your yard. When you begin the selling process, you might run into terms and procedures that seem like a foreign language. One of those procedures is a market analysis, which is essential for determining the market value of the property you are selling. Don’t worry, you do not have to figure this out on your own. This is something a Realtor will do for you!
What is a market analysis? A market analysis is a study of the current market value of homes or properties that are very similar to yours. A market analysis will answer questions like: What have homes like mine sold for recently? At what price are home like mine sitting stagnant on the market? When you start thinking about selling your home, one of your first steps is getting a market analysis by a qualified, licensed Realtor. This will give you an idea of what your home is worth in the current market. This is important because the market is constantly changing!
What does getting a market analysis involve? When you decide you would like to see what you could get out of your home, a Realtor will make an appointment to do a “Walk Through.” This is what we call it when we come to your house for a 10-15 minute appointment and look around. This is NOT a formal meeting that you need to spend weeks cleaning and preparing your house for. In fact, before you spend a lot of time and/or money on your home, it is a good idea to have a Realtor walk through to give you guidance on where you should focus your time and money. This first appointment is a quick meeting at your property where the Realtor will ask you to show them around. Your agent will be looking for condition of the home, updates, features that will add value, as well as red flags and easy fixes that could potentially net you more money and less time on the market! This will help your Realtor compare your house to others on the market to get an accurate market value. At this appointment, the Realtor should NOT give you the market value of your home. It is important that the agent be able to take the information you have shared and thoughtfully and purposefully research home prices that would result in a quick sale that will net you the most money possible. So be patient with your Realtor when they do not give you a price point right away, they are not stringing you along, they are doing their due diligence!
Are you ready to sell your property and need a market analysis? Come see us at ERA Integrity. We can perform a market analysis at no cost or obligation to you. We have Realtors that will help you find the right buyer for your property. For more information, give us a call at 765-529-2211.