Appraisal practice
Comparative market analysis (CMA)
A licensee’s pricing analysis based on comparable sales and current listings
A working tool for a listing conversation or an offer strategy. It uses much the same comparable data an appraiser would, and it is not produced under appraisal standards, not independent of the transaction, and not an opinion of value in the regulated sense.
How the exam asks about it
"How does a CMA differ from an appraisal?" is a recurring item and the answer is always about who prepares it and under what standards.
Related terms
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