A CMA is part appraisal and part sales presentation. A CMA is not an official appraisal. If you are unsure of which real estate office you want to work with, request a CMA from three separate real estate agencies. It s a good idea to get a CMA even if you think you might want to sell the property yourself to avoid paying an agent s commission. The CMA will give you valuable information about the local real estate market and does not obligate you to sign a listing agreement.
Value is always an estimate or an opinion.
Therefore, different estimates of value will always vary. However, unbiased and well-researched value estimates should all be in the same ball park. Beware of agents who estimate unusually high values. There are several advantages to getting a CMA rather than an appraisal to determine the listing price. A CMA is free.