A Comparative Market Analysis (CMA) is best described as which of the following?
Correct Answer
B) An analysis prepared by a real estate licensee to help price a property using comparable sales
A CMA is prepared by a real estate licensee (not a licensed appraiser) to help sellers price their property or help buyers evaluate an offer. It uses recent comparable sales, active listings, and expired listings to estimate market value. A CMA is not a formal appraisal and cannot be used for mortgage lending purposes.
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