It is what we do. We create CMA’s for people all the time. CMA stands for a Current Market Analysis or Competitive Market Analysis. This is where we do research to determine what our OPINION of value is for a specific property. This answers the question: What will my home sell for?
Most of the time, we, as Realtors® create these CMA’s for folks that are considering using us to sell their home. It is an integral part of what we do.
However, most Realtors® are not appraisers, so a CMA is merely an opinion. Granted, it is a very educated opinion, but it is still an opinion by a non-appraiser nonetheless.
That is what in any case that a Realtor® creates a CMA for a purpose other than for servicing a potential Seller, there are certain guidelines that MUST be followed.
Posted By: Mariana Wagner – Colorado Springs Realtor®