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What is BMA in relocation?

The broker's market analysis (BMA) plays a vital role in the relocation home sale process. Generally speaking, it is the first step in getting a relocation listing, whether the property is owned by the transferee/ homeowner or is owned by a relocation management company (RMC) or corporate client.

What is a market analysis appraisal?

Market analysis, according to The Appraisal of Real Estate, is a \u201csystematic\u201d six step process which consists of: \u2022 Productivity analysis, which is where the attributes of a property are examined to determine marketability in terms of specific services it provides and the specific needs in the market it satisfies.

What does BMA mean in real estate?

The Broker Market Analysis (BMA) is a real estate agent tool, provided as part of a listing presentation, which establishes a competitive marketing strategy, including a recommended list price and most likely sales price based upon an analysis of the current marketplace for the subject property.

How many comps should you have?

For a typical, non-renovated home, appraisers ask for 3 to 4 comps. These should be within a mile of the property and 20% of gross living space. With ARV appraisals, appraisers want to see 3 to 4 \u201cas-is\u201d comps and 3 to 4 comps for sold properties with a similar amount of completed renovation work.

What is the minimum number of properties that should be included in a CMA?

The Rule Of Three The first step for an agent preparing a CMA is to find three homes that have sold recently (within the past 6 months at most, but preferably 3 months). These three homes should be as similar and located as closely together as possible.

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