I am always happy to do a market evaluation of your home, whether you are long time clients or someone I've yet to meet. A comparative market analysis (CMA) is a process where I use key characteristics of your home (neighbourhood, finished square feet, updates, lot size, etc) and then search the MLS system and find similar homes which have recently sold, are on the market or were recently listed but the listing expired. I examine each of these properties, looking at the ways they are more or less valuable compared to yours, and take detailed notes. The similar properties which have recently sold give us the strongest clues as to value, while the properties currently listed are the competition. The expired listings are a warning, they were probably too expensive.
This may sound like a simple process and sometimes it is. Often though it is important to have an experienced agent conduct a CMA as they will know how to define "recently" which will fluctuate based on location, and how much a bedroom or bathroom is worth.
A property's value can also be influenced by other factors. For example, if someone needs to sell very quickly then that will lower the value of their home. All of these factors are taken into account, and then a price range is presented