What my house worth is one of the first question that homeowner what to know, so How do real estate agents determining the worth of a home?
What is my house worth is one of the first questions that homeowner what to know, so how do real estate agents determine the worth of a home?
Know your numbers
Realtors and real estate agent evaluate a home’s value based on several factors, including its location, size, age, and condition.
They often use a Comparative Market Analysis (CMA) to compare your home with similar properties that have recently sold in the area.
Upgrades, unique features, and market conditions also play a role in determining how much a home is worth.
Qualified real estate agents and realtors will have an in-depth understanding of the local market and can provide an accurate valuation.
Getting a valve for your home from a real estate agent or Realtor is not the same as having an appraiser do an actual appraisal.
The real estate agent and Realtors are giving you their opinion what they consider a marketing value.
The appraiser in going to go into more detail and based on why the appraisal is being done, may include other factors in the appraisal
The question that should be asked, is what amount of equity do you have in your house and what will be the actual amount of money you will be receiving at the close of escrow.
And that is a totally different question
When you go to sell a house, there are going to be fees.
There are escrow fees, title fees, possible taxes and loan payoffs, and if you hire a real estate agent or Realtor there are going to be commissions that will need to be paid.
Call or text (909) 226-3551 to set an appointment or to ask a real estate question
Will there be repairs that have to be made? Are there any association’s fees that have to be paid?
Such as any transfer fees that the association may charge to change their records.
Remember, that what you sell your house for and what you receive at the close of escrow (in California, maybe a closing attorney or closing agent in another state), will be different.
Know your numbers and have a plan on what you want to do after you sell.
Steve Olmos
Selling real estate in Southern California since 1980
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