Defining A Comparative Market Analysis
CMA is a real estate acronym that stands for “Comparative Market Analysis”. It’s a report your real estate agent prepares that provides you with the relevant data for comparing your property to other similar properties in the market.
Essentially, a CMA is a method for evaluating your properties worth by comparing it to others, which helps with setting a listing price.
A CMA Is Not An Appraisal
While it might seem like a CMA and an appraisal are quite alike, there are a few differences worth outlining.
The main difference between the two concerns the personnel involved – a CMA is conducted by a real estate agent, whereas an appraisal is completed on behalf of the bank or by a licensed appraiser.
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