Step #1 Have a Comparative Market Analysis (CMA) Done

A comparative market analysis is an estimate of the market value of a property, prepared by a NH real estate agent, based on the available information of a particular market area and recent sales of similar properties in that market.

Not to be confused with an appraisal, a CMA performed by a professional Realtor will assist a seller in determining an appropriate list price for his/her house, but is not as detailed or as accurate as a formal appraisal done by a licensed appraiser. The appraisal step comes later in the home-buying process.

When performing a CMA, your Realtor should choose properties that best match the criteria of the home you are looking to sell. The most common characteristics used when putting this analysis together include (but are not limited to) 1) number of bedrooms, 2) number of bathrooms, 3) lot size, 4) year the home was built, and 5) total GLA (gross living area).

The job of the Realtor is to suggest the best range to price your home in order to obtain the best value for you, as the seller, in the shortest amount of time. Depending on current market conditions, your Realtor may suggest pricing at either the high end of the range, or at the low end of the range. Ultimately, the decision is up to you as the home-owner…of which price point to choose. With all of the information provided to you from your Realtor, you should be able to make a comfortable, informed decision upon the completion of this analysis.