What is the key benefit of a comparative market analysis (CMA)?

The key benefit of a comparative market analysis (CMA) is that it helps establish a property’s market value. A CMA involves analyzing similar properties that have recently sold, are currently on the market, or were removed from the market within a specific time frame. This analysis takes into account various factors such as location, size, condition, and amenities. By reviewing this data, a real estate professional can provide an informed estimate of what a property is worth in the current market, which is essential for both sellers and buyers to make strategic decisions.

Regarding the other options, while a CMA may contribute to a quicker sale by setting an appropriate price, it does not guarantee a quick sale itself. Additionally, it does not ensure the highest possible price, as the goal is to determine a fair market value rather than simply aiming for the highest figure. Lastly, while a CMA can provide insights that may interest potential buyers, its primary purpose is not to identify those buyers but rather to inform about the property's value.