Master the Hidden Secrets of Comparative Market Analysis

The Process of Conducting a CMA

Conducting a CMA involves several steps that require attention to detail and access to reliable data sources. Initially, a real estate professional will gather information on comparable properties, often referred to as "comps," which have sold within the past six months. These properties should be as similar as possible to the subject property in terms of size, age, and amenities. Next, adjustments are made to account for differences between the comps and the property in question, such as renovations or unique features. The final step is to evaluate the adjusted prices of the comps to arrive at a suggested listing price or offer price for the property.