Most real estate sites and independent brokerages use online instant home valuation tools. While these can give you a ballpark estimate of what your home is worth, these tools aren’t always accurate. Why is this the case? Because online tools are automated and have limitations that leave room for error. In other words, this is one of those cases where it’s better to have an experienced, old-fashioned human being dig into the details and provide you with a more in-depth picture of your home’s value. 

Comparative Market Analysis (CMA) 

A comparative market analysis, also known as a CMA, is a thoroughly produced estimate of the value of a property based on similar properties that have recently sold in the same area. CMAs are generally based on the sales data from three similar homes, or “comps,” that have recently sold in your area. The real estate agent will then conduct a thorough walkthrough of your property, evaluating its age and condition, square footage, the number of bedrooms and bathrooms, lot size, layout, special features, improvements and other notable characteristics to determine its value before listing and give you strong pricing recommendations.