A Comparative Market Analysis (CMA) is best described as:
Correct Answer
B) An agent's analysis of comparable sales used to estimate a property's market value
A Comparative Market Analysis (CMA) is a tool used by real estate agents to estimate a property's market value by analyzing recent sales of similar properties in the area. Unlike a formal appraisal performed by a licensed appraiser, a CMA is prepared by a licensee to help sellers price their property or help buyers make competitive offers. In Alaska, a CMA is not considered an appraisal and does not require an appraiser's license.
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