What is the first step of a CMA?

The first step of a CMA is to gather all the information on the subject property. The real estate agent or REALTOR® needs this information to find similar properties that recently sold in the area.

Is comparative market analysis the same as an appraisal?

A CMA comes up with an estimate for the value of a home – and so does an appraisal. However, a CMA is something performed by a real estate agent or REALTOR® to determine a listing price or help you formulate an offer on a house while an appraisal is a more formal inspection of your home done by a licensed appraiser on behalf of a bank or financial institution.

Who conducts the CMA in real estate?

A listing agent or buyer’s agent typically performs a CMA in real estate. You can perform a CMA yourself, though it will be difficult to do it accurately without the resources that real estate agents have at their disposal.

What happens after the CMA?

After the homeowner is presented with the CMA, they can use this information to help set an asking price. Conversely, buyers can use a CMA to make competitive offers.

CMA In Real Estate Sales: A Guide