When putting your home on the market, there are two ways to go about estimating what your property is worth. The first is a professional appraisal, and the second is a comparative market analysis (CMA). If you are thinking about listing your home, talk to your Texas REALTOR® about hiring a professional appraiser, conducting a CMA, or doing both.
A professional property appraisal is done by a certified appraiser and estimates your home's value based on a variety of things, including square footage, design and floor plan, the neighborhood, schools, landscaping, any additions or updates, and more. The cost of an appraisal varies and usually can be done in an hour or so. If you get an appraisal and then decide you are not quite ready to sell, don't assume that appraisal will be very helpful in the future. Markets can change quite rapidly. If you determine that a professional appraisal is right for you, ask your Texas REALTOR® for a reputable appraiser in your area.
In addition to finding a professional appraiser, your Texas REALTOR® can also conduct a CMA for you. A CMA is a market analysis that compares similar properties in the area that have recently sold. This is an informal assessment that can go a long way in establishing a benchmark of where your asking price
should be.
