When you’re ready to get a clearer picture of your home value, complete this form to request an equity report, also known as a comparative market analysis, or CMA.

What’s an Equity Report?

It is an estimate of a home’s value based on the current market and recently sold, similar properties in the immediate area. These reports are created to help sellers set listing prices for their homes and in some cases to help buyers make competitive offers.

A home’s price changes dynamically depending on location, when it’s listed for sale, updates and improvements, whether it has trendy must-haves, all of it. You have to price your home before putting it on the market and a realtor helps you figure out how much your place is worth RIGHT NOW.

Whether you’re hoping to buy a house or sell one, the equity report is essential. We provide an equity report for no cost.

As your pricing strategy advisor, I know that comparable homes should be in the same or similar neighborhood, have similar square footage, number of bedrooms, bathrooms, features, and upgrades. The condition of the home has to be considered. Things like condition, lot size, extras, and curb appeal are more nuanced elements that must be factored in. It’s also important to make sure your report analyzes recent sales because markets can change quickly. Equity reports should consider the final sales prices of homes.

With at least three comparable homes you can triangulate a home’s price, but the more comps the better to get a good sense of what a given home is worth.

Looking Beyond The Comps

If needed, we can hone in the accuracy of the CMA even further by contacting other agents to get intel about homes whose sales aren’t completed just yet, but are currently waiting to close.

When a house is in escrow we can find out how much higher or lower than asking was agreed upon. Getting this kind of info may give you an edge with pricing or could notify you about potential complications. This could explain very low or very high comps that sometimes appear that could throw off your price.

All of this can give you an up-to-the-minute snapshot of where the market is headed and give additional insight into your home’s value.

Why Ask a Real Estate Agent for an Equity Report?

Most real estate agents will provide you with a report for free if you are interested in selling your home. It’s a good idea to ask for one or even compare reports to find the agent you want to work with. This will help you to get to know the agent, the way they work, how quickly they respond and to find out who knows the area well.