Property Valuation
Which is true about a 'competitive market analysis' (CMA) prepared by a Connecticut real estate licensee?
AIt is the same as a licensed appraisal
BIt is an informal estimate of market value used to assist sellers in pricing but is not a licensed appraisal✓ Correct
CIt can be used to satisfy mortgage lender appraisal requirements
DIt is regulated by the Connecticut Appraisal Commission
Explanation
A CMA is an informal pricing tool prepared by a real estate licensee to help sellers price their home. It is not a state-certified appraisal and cannot be used for mortgage lending purposes.
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