Comparative market analysis
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What is a comparative market analysis (CMA) in real estate?
Either way, a comparative market analysis (CMA) is a powerful tool for finding that perfect price. Here everything you need to know. What Is A Comparative Market Analysis (CMA) In Real Estate? A CMA is an analytical tool that real estate agents use to determine a property fair market value.
What is a CMA report?
A CMA report is a document put together by real estate professionals analyzing similar properties to the subject property to establish current market value. Real estate agents use comparable market analysis to give a price range to both buyers and sellers. A CMA is different from a formal appraisal conducted by a licensed real estate appraiser.
Can a real estate agent do a CMA?
On occasion, a real estate agent will be asked to do a CMA for an estate. It not unusual for a family member to know the value of the property at the time of death for tax purposes. An agent can do a comparative market analysis for a specific property when the seller passed.
How do you determine the CMA of a property?
This means homes of the same size, with the same number of bedrooms and similar amenities. The homes should also be located as close as possible to the target property, preferably in the same neighborhood. The closer these properties are, the more accurate the CMA will be.