Comparitive Market Analysis CMA Warner King Real Estate, LLC Form
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People also ask
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Is a comparative market analysis 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.
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How to do a comparative market analysis in MLS?
How to Conduct a Comparative Market Analysis? Analyze the Listing. Beginning a CMA starts with checking out the neighborhood. ... Use an MLS to Find Comparable Properties in the Area. ... Compare Properties. ... Adjust the Value of Your Listing. ... Set a Listing Price. ... Seller's Agent. ... Buyer's Agent.
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What does CMA mean in marketing?
Updated July 2, 2024. Real estate agents often use comparative marketing analysis (CMA) to collect data on potential listings and sales.
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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.
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How many comps do you need for a CMA?
A quality CMA includes at least three, but ideally between five to ten similar properties in the area that have sold within the past three to six months.
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What is a CMA market valuation?
CMA (Comparative Market Analysis) value is an informed price taken from the list of recent sales in the vicinity of the property being valued. CMA Info uses the industry standard accepted CMA valuation.
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What is a comparative market analysis report prepared by a real estate broker?
Comparative Market Analysis (CMA) is a report prepared by real estate agents and brokers, based on recent sales in the area, in order to determine a listing price for a property. If a new broker being solicited for a BPO doesn't know what a BPO is, it can be helpful to tell them it is similar to a CMA.
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What is a CMA comparative market analysis?
A comparative market analysis (CMA) is an estimate of a home's price used to help sellers set listing prices and help buyers make competitive offers. The analysis considers the location, age, size, construction, style, condition, and other factors for the property and comparables.
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