Who is typically responsible for conducting a market analysis?

The person typically responsible for conducting a market analysis is a real estate agent. This analysis involves evaluating current market conditions to determine the value of a property based on comparable sales, current listings, and market trends. Real estate agents possess the expertise and resources necessary to gather and interpret this data effectively.

Their work is vital for helping clients understand property values and make informed decisions about buying or selling real estate. They analyze factors such as neighborhood demographics, property features, and recent sales data to provide a comprehensive view of the market.

While other entities, such as lenders and appraisal boards, are involved in the overall real estate transaction process, their focus is different. Lenders assess a borrower's financial profile and the property's value primarily to secure financing, while appraisal boards oversee the standards and practices of appraisals, rather than directly engaging in the market analysis itself. The title company primarily handles the legal aspects of property transactions, ensuring clear title and managing the closing process.