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What Is My Home Really Worth?

What is the most important thing you can do when selling your home? Price it correctly! Pricing a home correctly is the key to getting it sold quickly. Sounds like an easy answer but it isn’t always an easy thing to do. One of the best reasons to hire a local Realtor to sell your home is that they have the knowledge to price your home correctly. You want to make sure you are using a Realtor that is familiar with your local market and has access to the MLS data in that market. Don’t be afraid to ask what MLS or MLS’s the Realtor belongs to when interviewing them. All real estate markets are different and so are the home values. You want to make sure your Realtor is familiar with the local market and can value your property correctly. How does a Realtor come up with a price? We do a Comparative Market Analysis, or CMA, to determine a value for your house compared to similar properties that have recently sold. We do a search of the MLS records and find comparable properties in the same area that are currently on the market as well as homes that have closed. This is why it is important that your Realtor have access to your local MLS. You want to make sure that the comparable properties, or comps, are in the same area otherwise the pricing can be off. A home in Freeport of similar size, age and condition will not be worth the same as a home in Rockford or Chicago, so the data from those MLS’s will...

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