What does the acronym CMA stand for in real estate?

The correct answer is Comparative Market Analysis. In real estate, a CMA is a critical tool that real estate agents use to determine the market value of a property. A CMA involves analyzing and comparing similar properties in the same area that have recently sold, are currently on the market, or were on the market but did not sell. This process helps to establish a fair market value based on actual sales data and market trends.

A Comparative Market Analysis takes into consideration various factors, including the property’s size, condition, location, and features that affect its value. This information is invaluable for both sellers and buyers, as it guides pricing strategies and helps to set realistic expectations for home values in a given market, making it an essential practice in real estate transactions.

The other options refer to different concepts that are not standard terminology used in the industry. They do not accurately represent what CMA stands for in the context of real estate market evaluations.