"CMA" stands for Comparative Market Analysis. It lets you know the approximate value you can sell the home for. A real estate agent usually prepares the CMA. While preparing it, the real estate agent considers many factors like:

• Prices of similar properties sold recently in the neighborhood.
• Prices at which similar properties found no buyers.
• Condition of the home, renovation plans
• Neighborhood facilities and neighborhood improvement plans

A CMA is not an appraisal but a report of a probable selling price. Buyers normally refer to it before considering a property to purchase, while sellers can use the CMA to determine the selling price of their home. Generally, residential agents do not charge for preparing a CMA.