How does a real estate agent determine the value of my home in Cornwall? 08 December 2022 Real estate agents in Cornwall & Eastern Ontario use a variety of methods to help determine the value of your home. They will often start with an evaluation, where they will analyze your property’s market value based on comparable sales, current listings and other factors, taking into account the size, age, location and other influential characteristics of the property. They will also inspect your home to assess its condition and consider any upgrades or renovations that have been made, which may increase their assessment of your home’s value. They will then use this information to establish a fair market value for your home. Does the municipality’s value of your home usually match a real estate agent’s valuation? The municipal value is based on an assessment of the property tax that you pay which does not match the current market value. Typically in Cornwall & Eastern Ontario, the municipal assessed value is much lower. On the other hand, a real estate agent takes many factors and more into account when determining a fair market price for your home. As such, it’s likely that the two values will be significantly different. It’s important to keep this in mind when deciding what asking price to use when selling your home in Cornwall and area. Determining a listing price based on the fair market value of your home When setting a list price, agents typically look at the recent sales of similar homes in your area as well as current listings to determine what comparable properties are selling for as well as market trends in your area like how quickly other properties in the region are selling. Using their experience and knowledge, your Cornwall real estate agent will recommend a list price. This can have an effect on how quickly you find a buyer and the amount of money you will receive for your home. In addition, a great real estate agent will provide invaluable advice on the entire process and help you feel at ease and get ready for a successful sale. As you can see, real estate agents have a number of strategies at their disposal to help you get the best possible price for your home. With their expertise on current market trends, pricing strategies and negotiations skills, an experienced real estate agent is essential when it comes to selling or buying property. Contact Sophie Goudreau for a free home evaluation.