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A Market Analysis focuses on a selling or asking price, whereas an appraisal focuses on the valuation of the property at the time the appraisal was done. Only state certified or licensed appraisers are allowed to do appraisals on a federally related transaction.How does a realtor determine real estate market value?
A Realtor determines the value of a property by scrutinizing the most recent comparable market data for homes sold in a neighbourhood using the MLS®. A Realtor also physically examines the exterior and the interior of a property, architectural styles, renovations, views, landscaping and neighbourhood zoning.