The real estate market is in full swing and super hot. This usually means, more folks will try selling on their own (without a Real Estate Agent). Trust me, this isn’t the best choice. But for those Sellers determined to list their home “For Sale By Owner,” be sure to set the price properly.

What is your first step? Request the opinion of a real estate agent. This document is called a Comparative Market Analysis (CMA). It is a free service performed by Real Estate Agents, seeking your business. Be open with the agent by advising your intentions. The agent will respect your honesty. They may still provide the service, in case you need their help in the future.

Your alternative to a CMA is a professional appraisal. This report provides greater accuracy than a CMA, because its investigation goes beyond the sale price. An appraisal report will add credibility to your position, when negotiating with buyers.

The appraiser is viewed as an independent source of information, with no “skin in the game” regarding your sale. Written appraisal reports typically cost around $500.

Whether you get a CMA or an appraisal, make sure to act quickly after identifying your home’s value. With rising prices, like we are seeing in this market, each sale sets a new price standard.

Priority Law practices real estate law.

This article was originally published in the Lowell Sun and is for informational purposes only and not to be relied on as legal advice, in any manner.