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Price via a CMA or Appraisal

Step 3 of 29 · Selling the W home in Texas, without an agent

What this is

Pricing is deciding what to ask for your home. Without an agent, you set the number yourself — but you should base it on real data, not a guess.

Why it matters

Pricing by feel is the single biggest mistake people make when selling without an agent. Price too high and buyers stay away. Price too low and you leave money on the table.

CMA vs. appraisal

A CMA (Comparative Market Analysis) is a report comparing your home to similar homes that recently sold nearby. Agents usually make these. You can ask an appraiser or your title company for help, or study recent sales yourself in public records.

An appraisal is a formal, written opinion of value by a licensed appraiser. It is more formal than a CMA. A buyer's lender will usually order its own appraisal anyway.

How to do it

  1. Look at recent sales of similar homes in your neighborhood — same size, beds, baths, and condition.
  2. Consider asking a licensed appraiser for a formal appraisal. This typically costs roughly $400 to $600, and prices vary, so ask for a current quote.
  3. Be honest about your home's condition. A fixer-upper prices differently from a move-in-ready home.

The law, in plain English

There is no special law about pricing. It is your choice. But a realistic price, backed by data, protects you.

Good to know: The county appraisal district's "appraised value" is for taxes and is not the same as market value. Do not use it as your asking price. Ask the county appraisal district if you are unsure.
Watch out: Do not set the price from what you paid, or what you "need" to get. Buyers only care what similar homes actually sell for.

Sources: Texas real estate closing process (Freedom Title)

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