Quick Answer: What is a CMA realtor?

What Is A Comparative Market Analysis (CMA) In Real Estate? A comparative market analysis is a tool that real estate agents use to estimate the value of a specific property by evaluating similar ones that have recently sold in the same area.

Can a Realtor charge for a CMA?

Most real estate agents will provide you with a CMA for free, especially if you are selling your home. In fact, comparing CMAs is a great way to find the agent you want to work with.

Is a CMA the same as an appraisal?

The main difference between an appraisal and a CMA is the personnel involved. Whereas a CMA is conducted by a real estate agent, an appraisal is carried out by a licensed appraiser on behalf of the bank. Once a buyer applies for a loan to purchase your home, the bank will order an appraisal of the property.

What is the point of a CMA?

One of the first forms of analysis that goes into a comprehensive CMA is a closer look at any current, active properties for sale. This helps give you and your real estate agent insight into the local competition for prospective buyers.

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How do I get a CMA for my house?

You can either scan lists of homes that have recently sold or get a report prepared by a local real estate agent, who will contact you and probably try to solicit your business at that point. Alternatively, you can purchase a CMA report, for example, at www.ushomevalue.com.

How much does a CMA cost?

CMA program entrance costs $225, but student or academic IMA members are eligible for a $150 discount. CMA exam fees are $300 or $350 per part, depending on how you register and when you take the exams, for a total of $600 or $700.

Who may prepare a CMA?

Under section 93A-83(b), a broker may prepare a CMA for “a third party making decisions or performing due diligence related to the potential listing, offering, sale, option, lease, or acquisition price of a parcel of or interest in real property.” Rule .

Which is more accurate a CMA or an appraisal?

While you can’t completely predict what the outcome of an appraisal will be, you have more control over it than what a CMA will conclude. A CMA and an appraisal are different processes, but both help you to get you accurate and up-to-date information about how much your home is worth.

Why is a CMA not an appraisal?

The CMA relies on vague market trends. The appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. … A CMA is created by a real estate agent who may or may not have a true grasp of the market or valuation concepts.

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Do lenders use CMA?

This should mean that they will give a better valuation and this is the reason why they are used by lenders. The CMA is carried out by an agent, also a professional, but may not be quite as unbiased. If the agent is trying to list or sell a property they may provide a skewed CMA to support a certain number.

What is CMA in mortgage?

The CMA CERTIFIED MORTGAGE ADVISOR™ certification is the standard of excellence in the mortgage industry. … “The CMA certification conveys high levels of expertise in the mortgage industry and a commitment to serving the client’s best interest.”

How do you calculate CMA?

The CMA Result is calculated by multiplying the price per square foot of your lowest and highest comps to the living area of your subject property creating the range. The CMA Result is the average. Lowest price per square foot comp x number of square feet of subject property = low end of range.

Which neighborhood factor must be considered when using a CMA?

Several factors are used when conducting a CMA to determine the best comparable properties: Age of the property: A house built three years ago won’t have the same value as a very similar house built 12 years ago. Number of bedrooms and bathrooms: This is an important factor, and relates to the next point.

Is a CMA free?

A CMA is how an agent arrives at a listing price, and they provide CMAs as part of their listing services. So yes, you can get a free CMA, even if you’re not ready to sell at the moment.

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Is Zillow a CMA?

We encourage both our customers and our industry partners to supplement the Zestimate Market Analysis with other research such as visiting the home, getting a professional appraisal of the home, or having a real estate agent complete their own comparative market analysis (CMA).

What 2 items are contingent on a purchase agreement?

Most Purchase Agreements are Contingent on What Two Items

The two contingencies most real estate contracts are contingent upon are the financing contingency and the inspection contingency.