Property Valuation
A Montana real estate agent performing a comparative market analysis (CMA) for a seller is providing:
AA certified appraisal meeting USPAP standards
BAn opinion of value based on market research to help the seller determine a listing price—not a formal appraisal✓ Correct
CA legally binding value determination for lending purposes
DA government-required assessment for property tax purposes
Explanation
A CMA is a broker's price opinion—not an appraisal—used to help sellers or buyers understand current market value for listing or purchasing decisions. A CMA does not meet USPAP standards and cannot be used for federally regulated lending decisions, which require a licensed appraiser.
Related Montana Property Valuation Questions
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