Skip to content
Pass Georgia
Download
Real estate glossaryNational exam concept

Comparative market analysis (CMA)

A comparative market analysis is a broker's analysis of relevant market data and comparable properties to help a seller choose a listing strategy or a buyer evaluate an offer.

Exam area: Valuation and Market Analysis

Download PDF

What does “comparative market analysis (CMA)” mean in real estate?

A comparative market analysis is a broker's analysis of relevant market data and comparable properties to help a seller choose a listing strategy or a buyer evaluate an offer.

How is “comparative market analysis (CMA)” different from the closest wrong answer?

A CMA is brokerage advice and cannot be presented as an appraisal. An appraisal is developed by an appropriately credentialed appraiser under appraisal standards.

What is the Georgia-specific rule?

Georgia licensees may prepare CMAs within their brokerage role but should identify the work accurately and avoid protected appraisal terminology or conclusions outside their authority.

Worked exam example

Scenario

A listing agent compares recent nearby sales, active competition, property condition, and market time before recommending a price range.

What is the most common exam trap?

Trap correction

The use of comparable sales does not distinguish a CMA from an appraisal. Purpose, provider, standards, and representation do.

Original exam check

Apply the definition

Before a listing appointment, an agent studies recent nearby sales, active listings, and days on market, then recommends a price range. How should the agent describe this work to the seller?

Mastery tracker

Do not mark this term complete until you can retrieve it.

0%

Progress is stored only in this browser.

Related terms to learn next

Appraisal

An appraisal is an independent, supportable opinion of value developed by a qualified appraiser for a stated property interest, effective date, intended use, and set of assignment conditions.

Broker price opinion (BPO)

A broker price opinion is a real estate broker's estimate of a property's probable selling price, often prepared for a lender, servicer, investor, or other client for a permitted purpose.

Automated valuation model (AVM)

An automated valuation model is a computer-based system that estimates property value by applying statistical or machine-learning methods to public records, property characteristics, and market data.

Fair market value

Fair market value is the amount a knowledgeable, willing buyer and seller would agree upon in an arm's-length transaction when neither is compelled and both have reasonable exposure to the market.

Recommended next complete lesson

Continue with Valuation and Market Analysis complete lesson. It places this term inside the full rule, worked examples, exam traps, and mixed practice required for mastery.
Previous termAppraisalNext term Broker price opinion (BPO)