Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between an Appraisal and a Comparative Market Analysis (CMA) that a real estate agent prepares?

April 26, 2017agent analysis appraisal CMA comparative market prepares Real Estate

0

Posted

What is the difference between an Appraisal and a Comparative Market Analysis (CMA) that a real estate agent prepares?

1 Answer

0

Posted

“Simply put, the difference is night and day. The real estate agent relies on vague market trends. The appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. A real estate agents CMA delivers a ”ball park figure.” An appraisal delivers a defensible and carefully documented opinion of value.