A home evaluation, also known as a Comparative Market Analysis (CMA), is a report prepared by a real estate agent that compares your property to similar ones in the marketplace.

To provide a home evaluation, the agent first gathers information about your property, such as square footage, renovations, and whether your basement is finished. If you plan to make changes before selling, inform the agent during this stage.

Next, the agent obtains data on comparable properties, usually from the MLS® (Multiple Listing Service) System, but also from other sources. This data helps determine your property's worth in the current market. It's important to note that a home evaluation is not an appraisal. Appraisals are typically conducted for financing purposes by a licensed appraiser and can be quite costly.

The home evaluation process, conducted before listing your home, provides a valuable assessment of your property's potential selling price.