What does CMA stand for in real estate?

CMA in real estate stands for Comparative Market Analysis. This term is widely used by real estate professionals to determine the value of a property based on the sale prices of similar properties in the same area. The process involves analyzing recently sold properties, properties currently on the market, and properties that were previously listed but did not sell.

Conducting a CMA helps agents provide informed guidance to sellers about competitive pricing and helps buyers make educated offers. It reflects an understanding of market trends and conditions, making it essential for valuing properties effectively. The focus of a CMA is on comparison to ensure that the most accurate value estimation is provided based on real-world data.

In contrast, the other options represent terms that either do not exist in standard real estate practice or do not capture the specific function and methodology that a Comparative Market Analysis provides.