Is performing a CMA mandatory for listing a property?

Performing a Comparative Market Analysis (CMA) is integral to the real estate listing process, as it helps agents determine an appropriate listing price based on recent sales of similar properties in the area. When it is stated that it is an agent's duty, it emphasizes the responsibility of the agent to provide a well-informed price to their clients. This duty ensures that properties are competitively priced to attract buyers while also maximizing the seller’s potential return.

Although agents may not be legally mandated to perform a CMA in every single listing, doing so is considered a best practice in the industry, helping to substantiate pricing decisions. This analysis is based on data concerning market trends, property characteristics, and comparable sales, making it a critical tool for agents to serve their clients effectively.

While there might be methods to list properties without a CMA, relying on one can significantly enhance the strategic positioning of a listing in diverse market conditions. The process builds credibility and trust with clients by demonstrating due diligence and market knowledge. Hence, framing the CMA as an agent's duty aligns with the professional standards expected in real estate practice.