Title: Analyze the steps taken to create a comparative market analysis (CMA) to determine property value and market price.
Course: Real Estate (12154) > Section: Appraising Residential and Income-Producing Property

Analysis should include

- definition and example of a comparative market analysis (CMA)
- a study of a subject property
- differentiation between an appraisal and a CMA
- steps involved in a CMA, including a comparison of the specified property with other sales.

DPOR correlations: 18VAC135-20-400. 1 (Economy and social impact of real estate); 18VAC135-20-400. 2 (Real estate market and analysis); 18VAC135-20-400. 20 (Appraisal of residential and income-producing property)

Teacher resource: Modern Real Estate Practice, 19th ed., page 291

Process/Skill Questions:

- How does the CMA help the real estate agent?
- How does the CMA help the seller of real estate?
- What is the difference between an appraisal and a CMA?
- What information is included in a CMA?
- When would a realtor use and present a CMA?