When you want to know what your home is worth, a real estate agent will often offer a free comparative market analysis, or CMA. An appraiser offers a formal appraisal for a fee. Both look at recent sales, but they are built for different jobs. Here is how they differ and when each makes sense.
Key Takeaways
- A CMA is prepared by an agent to help price a home for sale or make an offer.
- An appraisal is an independent opinion of value by a licensed or certified appraiser following USPAP.
- Agents may have a stake in the listing or sale; appraisers do not.
- For estates, divorce, tax appeals, and buyouts, an appraisal is the right tool.
- Many sellers use both: an appraisal for an independent baseline and an agent’s CMA for listing strategy.
What a CMA Is
A comparative market analysis is a report an agent prepares from recent sales, active listings, and expired listings. It is usually free, often done without a full inspection, and aimed at a pricing strategy. Good agents know their markets well, and a CMA can be very helpful when listing.
What an Appraisal Is
An appraisal is prepared by a licensed or certified appraiser who inspects the home, selects and verifies comparable sales, makes adjustments, and writes a report following USPAP, the national appraisal standards. The appraiser has no stake in whether the home sells or for how much. See how residential appraisals work.
| Agent CMA | Professional appraisal | |
|---|---|---|
| Prepared by | Real estate agent | Licensed or certified appraiser |
| Purpose | Listing or offer strategy | Independent opinion of value |
| Inspection | Often limited or none | Interior and exterior |
| Standards | Brokerage practice | USPAP |
| Stake in outcome | May earn commission | None |
| Past effective date | Not typical | Standard for estates and divorce |
| Cost | Usually free | Fee, quoted up front |
When a CMA Is Enough
If you are thinking about listing and want to talk strategy with an agent, a CMA is a natural starting point. It can also help a buyer decide what to offer.
When You Need an Appraisal
- Estates, especially when a date-of-death value is needed
- Divorce and buyouts between co-owners
- Tax appeals
- Sales between family members
- Pre-listing, when you want an independent number before choosing an agent
For a unique home, such as a historic property or a waterfront home, an appraisal’s inspection and detailed adjustments are especially useful.
Using Both
Many sellers in Florida and Connecticut get an appraisal for an independent baseline and then interview agents. The appraisal helps them judge whether a suggested list price is realistic. See also online estimates vs. appraisals and lender vs. private appraisals.
How Heritage Valuation Group Can Help
We provide independent residential appraisals throughout Florida and Connecticut. Catherine Hall has appraised homes since 1993 and comes from a three-generation appraisal family. She is based in Palmetto and works throughout Florida, and her daughter, Madeline Hall, appraises alongside her in both states. We focus only on residential property and work directly with each client.
Related: pricing your home right and the sales comparison approach. See our Florida and Connecticut service overviews.
Frequently Asked Questions
Is a CMA the same as an appraisal?
No. A CMA is an agent’s pricing tool. An appraisal is an independent opinion of value by a licensed appraiser following USPAP.
Why is a CMA free?
Agents provide CMAs to help win a listing or guide an offer. An appraisal is a professional service with a fee.
Can I use a CMA for an estate or divorce?
Usually not. Attorneys and executors typically want an independent appraisal, often with a specific effective date.
Which is more accurate?
Both can be useful. An appraisal includes an inspection, verified comparables, and documented adjustments, and the appraiser has no stake in the outcome.
Should I get both before selling?
Many sellers do. The appraisal gives an independent baseline, and the CMA helps with listing strategy.
How do I get started?
Call 888-602-8322 or use the request form. Tell us the address, property type, and purpose, and we will send a clear quote before any work begins.
Conclusion
A CMA helps you plan a sale. An appraisal gives you an independent value you can rely on for estates, divorce, tax appeals, and family decisions. Heritage Valuation Group provides independent residential appraisals across Florida and Connecticut.
Need an independent value? Request a quote or call 888-602-8322. You will get a clear price before any work starts.
