Detailed CMA Home Valuation by a Licensed Real Estate Agent
This type of home valuation report is commonly done as part of a pre-listing consultation by a licensed real estate agent when a home owner is seriously considering sale of their home, and is interviewing listing agents to represent them in that process. This is not an appraisal, but is the real estate agent’s professional opinion of the market value of the home.
In addition to all of the basic online research that is done for a Mini-CMA, a licensed real estate agent will visit and tour the home to gather additional information about its special features, lot type and size, views, construction materials and general condition. The real estate agent may measure the home to confirm the accuracy of measurements in the county tax assessor records, especially if there have been any additions or remodeling done. If a prior formal home appraisal is available, the real estate agent may use some of the information and measurements in that appraisal, especially if it is relatively recent. The real estate agent will interview the homeowner about recent upgrades and any past problems and maintenance history, such as a new roof, new carpets, kitchen and bathroom remodeling, decks, and other relevant factors that are not available from any online sources. If there are any adverse conditions, such as proximity to noisy streets or commercial zones, poor overall condition of the property, poor condition of other properties in the neighborhood that may indicate overall neighborhood deterioration, these will also be noted and factored into the final home value report.
Many real estate agents will perform a detailed home valuation at no charge or at a nominal charge to the homeowner, as part of their due diligence when preparing a pre-listing asking pricing recommendation. Most “Limited Service” real estate agents will charge a fee for this service.
In addition to the detailed home market analysis as described above, our free detailed CMA and seller consultation service includes an formal analysis of seller net proceeds, based on the final market valuation, current loan balances, normal and reasonable escrow and closing costs, and applicable tax pro-rations.