A Comparative Market Analysis (CMA) is best described as:
Correct Answer
B) An analysis prepared by a real estate agent to help estimate a property's market value using comparable sales
A Comparative Market Analysis (CMA) is a tool used by real estate agents — not licensed appraisers — to help sellers price their property or help buyers make competitive offers. It compares the subject property to recently sold, active, and expired listings with similar characteristics. Unlike a formal appraisal, a CMA is not a legally recognized valuation and cannot be used for mortgage lending purposes.
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