What are the four steps of a CMA?

What are the four steps of a CMA?

• A. Analyze, Market, Sell, Move
• B. Search, Select, Decide, Review
• C. List, Stage, Show, Close
• D. Inspect, Compare, Price, Offer

Answer: (B)

The four steps of a CMA are Search, Select, Decide, Review. Start by searching for comparable properties in the market—pull recent sales, active listings, and pending sales that are similar to the subject property in location, size, age, and condition. Next, select the most relevant comps from what you found, focusing on those that best match the subject so your comparisons are meaningful. Then decide by analyzing the differences between the subject and each comp, making appropriate adjustments for things like size, features, condition, and time since sale, to estimate a realistic price range rather than a single number. Finally, review the findings with your client, explain how the adjustments lead to the suggested price range, and finalize the price strategy based on the data. The other options describe different processes (marketing, listing, or offers) and don’t align with the CMA workflow.

The four steps of a CMA are Search, Select, Decide, Review. Start by searching for comparable properties in the market—pull recent sales, active listings, and pending sales that are similar to the subject property in location, size, age, and condition. Next, select the most relevant comps from what you found, focusing on those that best match the subject so your comparisons are meaningful. Then decide by analyzing the differences between the subject and each comp, making appropriate adjustments for things like size, features, condition, and time since sale, to estimate a realistic price range rather than a single number. Finally, review the findings with your client, explain how the adjustments lead to the suggested price range, and finalize the price strategy based on the data. The other options describe different processes (marketing, listing, or offers) and don’t align with the CMA workflow.