Can a CMA be electronically signed?

Yes. Electronic signatures are legally recognized under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states. Ensure the signer’s intent and consent are captured and that the platform provides an audit trail.

Is a CMA the same as an appraisal?

No. A CMA is an agent-prepared market analysis based on comparables and adjustments. Appraisals are formal valuations by licensed appraisers often required by lenders.

What signature level is recommended?

For client acknowledgments, email or SMS-based authentication is usually sufficient; stronger authentication may be needed for brokerage compliance or when PHI is involved.

How should I choose comparables?

Select recently closed sales closest in location and characteristics; prioritize sales within the last 3–12 months and document reasons for any deviations.

What if a client disputes the CMA?

Maintain documentation of data sources and adjustment rationale. Review comps, explain assumptions, and, if necessary, update the CMA with mutually agreed changes.

How long must I retain CMAs?

Follow brokerage and state rules; retain transaction-related CMAs for several years. Tax-related documents should follow IRS retention guidelines of at least three years.

Electronic Signature
Templates
Real estate
CMA Real Estate Template

CMA Real Estate Template

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

Comparative Market Analysis (CMA) Report

Report & Parties

Report Date:

Client Name: Client Contact:

Agent Name: Brokerage:

Property Identification

Property Address:

Parcel / APN: County:

Legal Description

Subject Property Details

Overview

Bedrooms: Bathrooms: Living Area (sq ft):

Additional Property Facts Occupancy / Condition

Market Summary & Pricing Recommendation

Current Market Conditions:

Suggested Pricing

Comparable Sales (Comps)

Enter up to three comparable closed sales used in this analysis. Provide supporting facts for adjustments and net adjusted values.

Comparable 1 — Address

Adjustments & Notes Comparable 2 — Address

Adjustments & Notes Comparable 3 — Address

Adjustments & Notes

Disclosures

Lead-based paint present? Yes No

Known mold or water intrusion? Yes No

Prior material damage or structural repairs? Yes No

Limitations, Assumptions & Liability

This Comparative Market Analysis is an opinion of market value prepared by the Agent for Client. It is not an appraisal and should not be construed as a formal appraisal. The analysis is based on sources believed to be reliable, including multiple listing service data, public records, and third-party reports; however, the Agent makes no representation or warranty as to the completeness, accuracy or reliability of such sources. Client acknowledges the CMA is advisory only and Client retains sole responsibility for final pricing and transactional decisions.

Client agrees to indemnify and hold harmless the Agent and Brokerage from any claim, loss or expense arising from Client's reliance on this CMA, except for willful misconduct or gross negligence by the Agent. Remedies for breach shall be limited to actual damages.

Authorization & Acknowledgment

By signing below, Client acknowledges receipt of this CMA and confirms that Client has reviewed the Comparable Sales, adjustments and the pricing rationale. Client authorizes the Agent to rely on the information provided by Client and to proceed with marketing or further valuation activities only upon execution of a separate listing agreement when applicable.

Agent Comments

Governing Law & Entire Agreement

This CMA shall be governed by the laws of the state in which the Property is located. This document constitutes the entire understanding between the parties regarding the subject matter hereof and supersedes all prior communications, representations or agreements, whether oral or written, with respect to the CMA.

Client:

By:

Date:

Agent / Brokerage:

By:

Date:

What the CMA Real Estate Template Is and When to Use It

The CMA Real Estate Template is a standardized worksheet agents use to estimate a property's current market value by comparing recently sold, active, and pending properties. It organizes core data — subject property details, comparable sales, market adjustments, and a pricing recommendation — so agents and sellers can review value drivers consistently. A CMA is not an appraisal; it is an analytical tool for pricing and negotiation. When prepared carefully, it supports listing strategy, buyer presentations, and lender conversations.

Why a Structured CMA Template Matters

A consistent CMA Real Estate Template reduces errors, makes assumptions explicit, and speeds decision-making for listing or buying choices. It centralizes supporting data and standardizes adjustments so comparisons are repeatable and auditable.

Who Typically Prepares and Reviews a CMA

A CMA is commonly prepared by licensed real estate professionals to advise sellers or buyers on pricing and strategy.

Listing agents: Create the CMA, recommend list price, and present to sellers for decision-making.
Buyers’ agents: Use CMA to evaluate offer strategy and identify over- or under-priced listings.
Brokers and managers: Review CMAs for compliance, training, and final approval of pricing guidance.

Teams, brokers, and lenders may review the finished CMA to confirm comparables, valuation rationale, and listing recommendations.

Who Has Authority to Sign or Approve the CMA

Listing Agent

The listing agent prepares and signs the CMA as their professional opinion; signature indicates the agent stands behind the methodology and data used in the report.

Seller / Owner

The seller acknowledges receipt and review of the CMA; their signature documents acceptance of pricing recommendations and supports later listing decisions.

Core Elements Every Professional CMA Should Include

A complete CMA Real Estate Template groups factual data, comparable evidence, and a transparent adjustment methodology so readers can follow how the recommended price was derived.

Subject Summary

Concise property facts: full address, legal description, bedrooms/bathrooms, square footage, lot size, recent upgrades, and zoning or special features that affect value.

Comparable Sales

Three to five recent closed sales with dates, sale prices, distance from subject, and salient differences noted for transparent comparison.

Active & Pending Listings

Current market competition showing pricing, days on market, and listing concessions to reflect present demand and supply dynamics.

Adjustments Grid

Line-by-line adjustments for size, condition, location, and amenities with dollar values and rationale to reconcile differences between comps and the subject.

Market Trend Data

Local price trend indicators such as median days on market, months of inventory, and recent price movement to contextualize valuation.

Pricing Recommendation

A clear recommended list price range and a single suggested list price with supporting rationale and sensitivity notes for negotiation.

Step-by-Step: Filling Out the CMA Real Estate Template

Follow these sequential steps to assemble a defensible CMA and present it clearly to sellers or buyers.

01

Gather Data: Collect subject facts, MLS history, and recent sales within the market area.
02

Select Comparables: Choose 3–5 comps by similarity, location, and recent sale date.
03

Apply Adjustments: Quantify differences and enter line-item dollar adjustments.
04

Review and Sign: Check math, add notes, and sign to record the agent’s valuation opinion.

Where to Send or Store the Completed CMA

After completion, route the CMA to stakeholders based on the transaction role and recordkeeping needs.

Seller / Client: Provide a PDF or signed copy for the owner's file and decision-making.
Brokerage File: Save a copy in the brokerage compliance folder for supervision and audit.
MLS Notes: Do not upload full CMA to MLS; summarize pricing rationale per MLS rules.
Lender or Buyer: Share on request to support offers or loan underwriting communications.

Configuring an Online CMA Workflow

Common template settings for digital completion and secure routing; adapt fields and authentication to your brokerage policy.

Field	Configuration
Template Locking	Prevent structural edits while allowing data entry fields.
Conditional Fields	Show repair or concession fields only when applicable.
Auto-Populate	Pull MLS or CRM data into subject and comp fields.
Signature Placement	Place signer, date, and acknowledgment fields in the final section.

Technical Considerations for eSigning and Sharing a CMA

Confirm file formats, authentication methods, and integrations before distributing a CMA electronically.

Supported Formats: PDF, DOCX, XLSX
Authentication: Email, SMS code, or stronger MFA
Integrations: CRM and MLS connectors

Ensure the chosen platform supports audit trails, export to PDF/A for preservation, and integrates with your broker's systems such as Salesforce, Microsoft 365, or Google Workspace.

Typical Timelines and Turnaround Expectations

Turnaround varies by data availability and client responsiveness; set expectations early in the process.

Initial Data Collection:

Complete within 24–48 hours when MLS data is available.

Comp Analysis:

Allow 24–48 hours for selection and adjustment work.

Client Review:

Allow 24–72 hours for seller feedback and questions.

Broker Review:

Broker approval typically 24–72 hours depending on office policy.

Listing Launch:

Plan listing activation after final sign-off and document retention steps.

Common Mistakes When Preparing a CMA

Using distant or dissimilar comps that distort value and produce misleading adjustments.
Failing to document adjustment rationale, which reduces transparency and invites challenge.
Over-reliance on listed prices instead of closed sale prices when deriving market value.
Neglecting to confirm data sources or update for recent market shifts prior to advising a client.

Risks and Professional Consequences of an Incorrect CMA

Mispricing: Lost sale or liability

Disclosure Omission: Regulatory complaint risk

Inaccurate Comparables: Client disputes

Contract Breach: Listing or commission disputes

Reputational Harm: Damage to agent credibility

Recordkeeping Violations: Brokerage compliance issues

Supported File Types and Supporting Documents to Attach

Include primary files and attachments that substantiate the CMA: photos, MLS printouts, tax records, and inspection summaries where relevant.

Export Formats

Save final CMAs as PDF/A for preservation and as DOCX for internal edits; PDFs preserve layout and are preferred for distribution.

Photos & Maps

Attach high-resolution photos, floor plans, and location maps to support adjustment decisions and client presentations.

MLS Reports

Include MLS sold sheets and historical market reports to document comparable selection and sale verification.

Inspection Summaries

Attach condition reports or inspection summaries when adjustments relate to major defects or recent repairs.

Pricing and Feature Comparison: signNow and Alternatives

Comparison of starting prices and selected capabilities for common eSignature platforms used to distribute and sign CMAs. Verify vendor terms before purchase.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Real-World Examples of CMA Use with Electronic Signing

These short case notes show how practitioners use CMAs and eSignatures to close decision points and document outcomes.

Tim Martin — Martin Properties

An agent needed rapid seller approval for price strategy after multiple showings

He used the CMA template and an electronic signature workflow to document agreement in under 24 hours
"I can process and execute all of these documents online with 100% compliance and built-in security," Tim said, noting mobile accessibility improved turnaround.

Brian Fitzgibbons — Optica Ventures LLC

A brokerage standardized CMAs across its agents to improve consistency

The firm deployed a single template and eSignature method to capture seller acknowledgement
"The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers," Brian reported regarding adoption and client satisfaction.

Required Information Checklist for the CMA Real Estate Template

Property Address: Full street address

Owner Name: Legal owner name

MLS ID: MLS or public record ID

Sale Price: Final sale figure

Lot & Area: Square feet and lot size

Supporting Photos: Attach key images

Frequently Asked Questions About the CMA Real Estate Template

Answers to common questions about validity, eSigning, and best practices for CMAs used in U.S. real estate transactions.

Need help? Contact support

Can a CMA be electronically signed?
Yes. Electronic signatures are legally recognized under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states. Ensure the signer’s intent and consent are captured and that the platform provides an audit trail.
Is a CMA the same as an appraisal?
No. A CMA is an agent-prepared market analysis based on comparables and adjustments. Appraisals are formal valuations by licensed appraisers often required by lenders.
What signature level is recommended?
For client acknowledgments, email or SMS-based authentication is usually sufficient; stronger authentication may be needed for brokerage compliance or when PHI is involved.
How should I choose comparables?
Select recently closed sales closest in location and characteristics; prioritize sales within the last 3–12 months and document reasons for any deviations.
What if a client disputes the CMA?
Maintain documentation of data sources and adjustment rationale. Review comps, explain assumptions, and, if necessary, update the CMA with mutually agreed changes.
How long must I retain CMAs?
Follow brokerage and state rules; retain transaction-related CMAs for several years. Tax-related documents should follow IRS retention guidelines of at least three years.

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