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RE62RC10: Comparative Market Analysis (CMA) List Your Way to Success! Constantly Evolving Continuing Education with Kate Flanagan MacGregor Nice Meeting YOU! Volunteer 2017 President-Elect ASEM MAR

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How to fill out comparative market analysis cma

01

To fill out a comparative market analysis (CMA), follow these steps:

02

Gather information: Collect the details of similar properties in the area that have been recently sold or are currently on the market. This includes the property type, location, size, number of bedrooms and bathrooms, and any unique features.

03

Analyze data: Compare the sales prices and listing prices of these properties to determine the current market value. Look for similarities and differences in features, condition, and location to adjust the prices accordingly.

04

Prepare the report: Organize the collected data in a clear and comprehensive manner. Create a document or spreadsheet with the property details, listing and sales prices, adjustments made, and any additional analysis or comments.

05

Include pictures: If available, include photos of the comparable properties to give a visual representation of the similarities and differences.

06

Review and validate: Double-check the accuracy of the information and calculations in the CMA report. Ensure that all data points are relevant and correctly applied.

07

Present the CMA: Share the completed CMA report with the intended audience, such as clients, real estate agents, or appraisers. Explain the methodology used and provide insights into the market value of the subject property.

Who needs comparative market analysis cma?

01

Comparative market analysis (CMA) is useful for various individuals and organizations involved in real estate, including:

02

- Homeowners looking to sell their property: A CMA helps them understand the market value of their home and set an appropriate listing price.

03

- Buyers interested in purchasing a property: A CMA provides insights into the fair market value of a property, allowing buyers to make informed decisions and negotiate effectively.

04

- Real estate agents and brokers: They use CMA to determine competitive listing prices, attract potential clients, and provide valuable information to buyers and sellers.

05

- Appraisers: A CMA assists appraisers in assessing the value of a property by comparing it to similar properties in the market.

06

- Investors and developers: They rely on CMA to evaluate potential investment opportunities and understand market trends.

07

- Lenders and financial institutions: CMA reports help them make informed decisions regarding mortgage approvals and property valuations.

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What is comparative market analysis cma?

Comparative Market Analysis (CMA) is a valuation conducted by real estate professionals to estimate the value of a property by comparing it to similar properties that have recently sold in the same area.

Who is required to file comparative market analysis cma?

Real estate agents, brokers, and appraisers are typically required to conduct and file a Comparative Market Analysis (CMA) when assisting clients in buying or selling property.

How to fill out comparative market analysis cma?

To fill out a Comparative Market Analysis (CMA), real estate professionals gather information on recently sold properties, current listings, and market trends to determine a property's estimated value.

What is the purpose of comparative market analysis cma?

The purpose of a Comparative Market Analysis (CMA) is to help clients understand the value of their property in the current market, aiding in the buying or selling process.

What information must be reported on comparative market analysis cma?

A Comparative Market Analysis (CMA) typically includes information on recently sold properties, current listings, property features, market trends, and the recommended listing price.

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