What an appraisal is
A residential appraisal is an independent valuation assignment performed by a licensed or certified appraiser. The appraiser identifies the client, intended use, effective date, property rights and scope of work, researches relevant market evidence and develops a supported opinion of value.
What a CMA is
A comparative market analysis is generally prepared by a real estate broker or salesperson to help with listing, marketing or purchase strategy. It can be very useful for that purpose, but it is not the same professional product as an appraisal.
When the distinction matters
- estate and historical-date valuation
- divorce or other professional matters
- tax and assessment decisions
- private transfers between related parties
- situations where an independent, non-sales valuation is needed
Price strategy versus value opinion
A seller may intentionally list above or below an indicated market value for strategic reasons. An appraisal is not designed to create a marketing strategy; it is designed to answer an identified valuation question.
If the decision requires more than a listing recommendation, send the property address and intended use.
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