What is a Current Market Assessment really?

Home Evaluation aka Current Market Assessment (CMA) is typically provided to the seller's during the listing process and is complimentary. It is a process where the real estate professional looks at the data available to establish the Asking Price for the property.

It is important to understand that only the market can determine the ultimate value of your home. That said, choosing the optimal list price is essential to maximizing your home's value. Pricing it too low, you risk not getting as much as you can for your property. There is an exception to that rule, where in the seller's market the strategy of pricing the home low and holding offers, if executed properly, most often results in multiple offers and ultimately getting top dollar for your home. If you price it too high, you risk losing potential buyers who may think your property is out of their price range... and thus you help your competition sell faster. 

Determining the optimal list price is, in part simple math, but for the most part it is a strategic process that requires extensive market knowledge and research. An in-depth CMA will tell you what similar properties have sold for recently, but to effectively price your property it's equally important to consider every similar home on the market to understand exactly what your competition is.

In addition, expertise in both the local and national market conditions is paramount to arriving at the optimal list price. Pricing your home right the first time will result in more exposure, more showing, more offers and ultimately the highest price for your home. 

Whether you are thinking of selling or if you just want to find out about your particular neighbourhood, please feel free to reach out and I would be happy to discuss with you the process and provide you with a Free Home Evaluation. 

 

Not sure what your current market assessment would be at this time? Reach out, I am always happy to talk about real estate and help empower homeowners.

Hopefully you’re convinced of the benefits of learning more. So, would you like me to assist you? If you have any questions about the state of Real Estate in GTA and around, please reach out to me. We can discuss what is happening now and what may be best for your current situation in your market. Contact Me and we can set a time to analyze your needs and timelines. I continue serving my clients and doing Business as (Un)Usual, as we all watch the world change, transform and re-invent itself from what we know it to be.

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