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As a real estate agent, you understand the importance of accurate pricing of your listings. Listing at lower prices cause loss to the sellers, while overpricing reduces or eliminates potential buyers. Therefore, you need to decide on the maximum price the buyer will pay and the lowest price the seller will sell. The ultimate goal is to make both buyers and sellers feel like winners. Negotiations are a key part of this process, and a comparative market analysis (CMA) can help support you during them.

Although it can be challenging to conduct a CMA, this comprehensive guide will alleviate your concerns.

What is a comparative market analysis (CMA) in real estate?

Simply put, a comparative market analysis (CMA) is a report comprising the estimated value of your home or property based on the past and current prices of similar properties in the same neighborhood. Buyers, sellers, and agents often use these reports to strike an excellent real estate deal that benefits everyone involved.
A CMA evaluates many factors, including the size, location, condition, and style, to determine the most accurate price for the property.