What the Heck is a CMA or a BPO?

They are one in the same. CMA stands for Comprehensive Market Analysis, and a BPO is a Broker Price Opinion. Our MLS software includes a computer generated CMA and it is quite good. Whether you are a buyer or seller, a CMA is excellent information for pricing your home or deciding what to offer. With the market being as soft as it is, a new CMA needs to be done for sellers every 3 to 4 months to be sure they are still priced competitively. When banks foreclose on a property they order an appraisal from a licensed Real Estate Appraiser to establish current value of the home, but they will often also contact a Real Estate Broker to do a BPO just to see if both parties agree. Here’s a sample: Comprehensive Market Analysis