How Do Estate Agents Determine the Value of Your Home?
Selling a home can be both an exciting and daunting experience, and one of the most critical factors in this process is determining your property’s value. Estate agents play a pivotal role in this aspect, employing a variety of methods and tools to assess how much your home is worth. Understanding how they determine the estate agents Essendon value can help you set realistic expectations and ensure that you get the best possible deal. Here’s a comprehensive look at the key factors estate agents use to determine the value of your home. Comparative Market Analysis (CMA) One of the primary methods estate agents use to evaluate your home is a Comparative Market Analysis (CMA). This involves comparing your property to similar homes in your neighbourhood that have recently sold, are currently on the market, or were previously listed but didn’t sell. By analysing the sale prices of these comparable homes, agents can estimate a competitive price for your property. Key Considerations in CMA: Lo...