How to Determine a List Price of a property?
In some cases, a comparative market analysis may be the most effective method for calculating a fair list price. This type of analysis is typically carried out by real estate agentsas part of their research on the prices of similar properties that have recently sold in the area. Because no two homes are identical, agents will make appropriate modifications to account for differences among houses sold in a certain area in order to arrive at a reasonable list price.
A comparative market analysisisn't the same thing as a formal appraisal. The real estate agent, on the other hand, will most likely utilize many of the same strategies and processes as an appraiser to arrive at a realistic property appraisal. If no comparable properties exist, the owner may need to employ a formal appraiser to calculate the list price.
