Comparative Market Analysis

Comparative Market Analysis (CMA) - After you get your real estate license, and if you find a client who is looking to sell their property, they may ask you to analyze the market, and let them know how much they can sell their property for. It will be your job to analyze recent sales of similar properties, to determine a reasonable price for your clients property. This process is called Comparative Market Analysis. You can ask the seller to pay you a fee for your CMA, but most of the time licensees do it for free, so that seller will list their property with them. A CMA is not an appraisal. It is simply a marketing tool. Therefore, CMAs do not have to conform to the USPAP standards. USPAP (Uniform Standards of Professional Appraisal Practice): The set of ethical and professional standards that must be followed for all appraisals.