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What is a CMA?
CMA shows the value of your home in the eyes of the buyers and they determine value by doing comparison shopping between all the available homes.
What is the difference between a CMA from a real estate agent and Zestimate®?
Zestimate® is an online price estimation too. It uses a formula to determine the home value which includes simple numbers from the “Multiple Listing Service (MLS)” and tax records. It is a good starting point, but a CMA done by a competent Realtor® is more accurate and more reliable.
CMA is performed by a licensed real estate agent using human logic, knowledge, and experience. In contrast to Zestimate® that just use raw data without factoring the uniqueness of each property. Realtors® determine the price of the subject property by evaluating many factors. Such as its location, condition of the property, features, and benefits. These factors are used to compare targeted homes and the ones that have recently sold or are currently on the market. Since no two homes are identical, Realtors® use their expertise in the field to the value based on differences or similarities.