What Is the Difference Between a Competitive Market Analysis and an Appraisal?

Real-estate terminology can be confusing for those not in the business – and especially for first-time home buyers or sellers. Online guides do provide definitions of technical terms, but they do not often explain, for example, what the actual difference is between a competitive market analysis and a property appraisal.

As the first step in speaking with you as a potential client looking to sell a home, the Perfect Choice Properties team would provide you with a thorough evaluation of your home’s worth. Often called a competitive market analysis, or CMA, in the industry, such reports are provided by Perfect Choice as complimentary and with no obligation. We draw on our experience in the New Hampshire real-estate market – and our personal knowledge of area neighborhoods and sales trends – to give you an honest and realistic assessment of your home’s potential value in the local market. Such evaluations are not presented in a vacuum either – but as part of an overall discussion with you, the potential client, on how to enhance that value and present your home in its best light to buyers.

A formal appraisal, on the other hand, is conducted by a certified appraiser. Although an appraiser also bases the analysis on comparable home sales, and an appraisal is required by the home buyer’s lender, the document is often used in cases unrelated to the purchase or sale of a home, too – such as when taking out a home-equity line of credit.