CMAs (Comparative Market Analysis)

Definition

An agent's version of market research, using comparable sales to estimate a property's value—less formal than an appraisal, equally debatable.

Example Usage

The agent's CMA supported the $425K listing price, though the sellers hoped for $450K.

Origin

Real estate agent terminology, popularized in the 1990s

Fun Fact

CMAs are where agents prove their value by making the data support whatever the seller wants to hear.

Source: National Association of REALTORS® Standards

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