Appraisers review numerous factors including recent sales of similar properties, location, square footage and construction quality. Comparative market analysis is an informal estimate of market value performed by a real estate agent or broker. It is based on like sales and generally offers a range of values including probable market value.
Many agents offer a free analysis or property profile in hopes of acquiring a new client.
Brokers opinions, free or not, should be in writing, using professionally accepted appraisal techniques. Individuals can also do their own cost comparison, though doing so may take several hours of research at the county recorders office. Most county recorder's offices have indexes to match street addresses and parcel numbers.