What is a CMA in Real Estate
One of the first real tasks a real estate agent should learn to do is create a CMA or more appropriately a “Competitive Market Analysis.” No matter the client (buyer, renter, seller, etc.), having and presenting a keen understanding of the market, available and relevant listings, as well as the correct property value is absolutely essential. Unfortunately, it can often be challenging to know exactly what to or not to include. This week, we’re going to show you exactly how a CMA works and how to produce the best CMA possible. We will continue to add to this post so, keep us in your bookmarks! What Is A CMA For Real Estate? First, we need to define what a CMA or “comparative market analysis” really is. Plainly, a CMA allows you to present your clients with similar properties to the property you are trying to sell while also comparing an estimated home value to your property. Why is this necessary? To determine what fair value is for a home, property or rental that has yet to be sol