when a real estate agent or broker conducts a comparative market analysis they will create a report that details the findings there s no standardized cma report however it s important to note that some states have statutes that require specific information be included in cmas 1
that said a cma typically includes cma vs appraisala cma is completed by a real estate agent the seller or the buyer using comparable homes to estimate a price this estimated price can then be used for negotiating a sales price an appraisal requires a state licensed and certified appraiser the appraiser compares homes similar in size layout and location then they evaluate housing market conditions and generate a report with the home s market value the appraisal value is used by lenders to establish the amount a buyer is approved for the key difference is a cma establishes a home s price whereas an appraisal establishes its value price is what you pay for something while value is what it is worth 