What procedure will Agent Smith use to assist her sellers in setting their listing price?

Agent Smith will use a comparative market analysis (CMA) to assist her sellers in setting their listing price because a CMA is specifically designed to provide an in-depth assessment of how similar properties in the same area have been priced and sold recently. This analytic framework allows agents to compare the subject property with recent sales, active listings, and properties that were withdrawn or expired.

The CMA takes into account factors like location, size, features, and the condition of the home, ensuring that the pricing reflects the current market dynamics. By using this method, Agent Smith can derive a reasonable and competitive listing price, helping her sellers achieve the best possible outcome.

In contrast, while an MLS analysis might provide data on listings within a Multiple Listing Service, it does not focus entirely on comparable properties with an adjusted market value perspective like a CMA. The cost approach typically estimates the value based on the cost to replace or reproduce the property, which may not always reflect what buyers are willing to pay. A market trends report provides broader insights into general market conditions, such as the current demand and supply in the market, but is less specific to the property's individual situation compared to a CMA.