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Pricing your home correctly is one of the biggest keys to attracting a robust pool of potential buyers, but the pricing process feels like one big mystery for many sellers. The good news is that it definitely doesn't have to be! While the pricing process can be complex, every good real estate agent follows a similar process to determine a home's value. Understanding what does – and what doesn't – factor into a home valuation will help you get a better grip on how much to expect when you sell. Our REALTORS® are here to help remove the mystery from the home valuation process.
It All Starts with a CMA
When determining the value of your home, your agent will start with a comparative market analysis (CMA) to compare your home with other, similar properties in your area. A CMA looks at the comparable homes that are currently on sale, those that have already sold recently, and homes that were listed but didn't sell. With a CMA in hand, you'll have a much deeper understanding of how your home fits within your local real estate market, whether you're competing with other Mansfield homes for sale or listing in any other community.
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