By the time you decide to list your home for sale, you’ve probably done a bit of research to determine what your home may be worth. If you’re like many homeowners, you may even have a price in mind before you contact a Realtor® to help you market your home to potential buyers.
When your Realtor shows you a comparative market analysis, or CMA, you may find that the suggested list price for your home differs widely from the price you had in mind. It’s important not to make the mistake of becoming emotionally attached to a price that the local market won’t bear.
A CMA is Your Best Guide
You’ve lived a significant portion of your life in your home, and it’s natural to have a certain emotional connection to it. However, the market doesn’t know, or care, about your history—or even the home’s history. A CMA will tell you the present state of your local real estate market, and where your home falls on the current price spectrum.
You may ask, “Why not set the list price higher? We can always reduce it later.”
Making this common mistake can mean that your home sits on the market for months longer than it has to. Homebuyers tend to shy away from homes that have been on the market for some time, and from homes that have had multiple price reductions.
Ultimately, making this mistake may even result in a lower sale price than your home might have fetched if you had set the list price closer to the fair market value.
Are You Selling a Home in Tampa Bay?
Let us give you a free comparative market analysis that shows you exactly what your home is worth.
Call us at 727-584-8480 or 813-961-6000. If it’s easier, you can also contact us online — we’re here to do what works for you.
In the meantime, you can download our free home-selling eBook and then learn about: