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How Do Realtors Determine Home Value?
When an agent recommends a list price or helps you make an offer, they're using a process grounded in real data. Here's what that process actually looks like.
Video coming soon
The key takeaways are below in the meantime.
Written by Bri Bond-Erwin
Key Takeaways
- Agents determine value through a CMA by analyzing comparable recently sold homes in the same area
- The key data comes from the MLS, not public websites, so agents see the full picture
- Adjustments are made for differences between the comp homes and the subject property
- Active listings (homes currently for sale) show competition but don't establish value. Sold homes do
- Market speed matters: how quickly homes are selling tells you as much as the price
- A good CMA reflects both data and professional judgment from local market experience
Transcript will be available when the video is recorded.
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