A comparative market analysis (CMA) must be prepared by

While certified appraisers are qualified to determine property values, they typically perform formal appraisals rather than CMAs. Appraisals are more detailed and are often required for financing purposes, while CMAs are generally used by real estate agents to assist sellers in setting listing prices or buyers in making offers.

Not all real estate licensees are qualified to prepare a CMA. While they may possess a license, only those with sufficient experience and knowledge, such as licensed brokers, are expected to conduct CMAs accurately. This distinction is essential for ensuring that clients receive informed advice based on market data.

Certified Public Accountants (CPAs) focus on financial matters such as taxes and audits, and they are not trained in real estate market analysis. Although a CPA may offer financial insights, they do not have the specialized knowledge required for preparing a CMA, which necessitates understanding local real estate dynamics.