A Comparative Market Analysis (CMA) is best described as which of the following?
Correct Answer
B) An analysis performed by a real estate agent to estimate a property's market value based on recent comparable sales
A Comparative Market Analysis (CMA) is a tool used by real estate agents — not licensed appraisers — to estimate a property's likely selling price by comparing it to recently sold, similar properties in the same area. Unlike a formal appraisal, a CMA is not performed by a licensed appraiser and cannot be used for mortgage lending purposes.
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