Market Evaluations – why, who, and when.

WHY?

Most market evaluations are requested when owners are planning to sell. However, some owners like to get an idea of their homes value based on current market conditions, as this acts as a guide for future investment into the property. A formal CMA (comparative market analysis) produces a report of value for your home based on comparable homes that have sold recently in your neighbourhood or region. We also review ideal time lines, list of things to be completed, and any special circumstances that need to be considered before you enter the marketplace.

WHO?

Since the early years of organized real estate may realtors have boasted free market evaluations to entice sellers. In the 20 years that I have been a realtor in Manitoba I have not seen too many agents charge for this service unless it is to establish valve on behalf of a third party. As realtors, we can provide a market value for the home, which basically is what the home would fetch on the open market if listed today. What we can not provide is a value for refinancing purposes, insurance or replacement costs. This is a service that a certified home appraiser provides and requires a different level of expertise to be considered valid by the courts or legal professionals.

WHEN you’re ready

We offer guidance on what needs to happen to get your home ready and where to focus your time and effort to maximize its value. Staging, decluttering, and timelines for competition are part of the evaluation as well. We can provide referrals to services that can assist in all aspects of your move. When you receive a market evaluation it should include a marketing plan for the home and list of services provided before, during and after the sale. Commissions or flat rate fee should be disclosed in addition to service agreements,  representation, listing contracts and schedules. Even if you have bought and sold real estate in the past, be sure to review the process as legislation and industry practices have change over time. We understand that every client is unique, and no two homes are the same this is why we customize our evaluations for each customer that we meet.