Should There Be A Fee for the Comparative Market Analysis ?
By David Saks, Broker / Industry Analyst
Yes . It's time we think about the costs involved preparing a CMA the same way we consider the costs for preparing a broker price opinion. My email inbox is flooded with requests for BPO's on 72 hour notice. The lender is counting on me, or some other agent, to make them feel comfortable with the approval of the loan request if one is approved. My opinion of price is valued by the lender. Would you screw up the entry level to decisive financial integrity with a fraudulent misrepresentation for a government loan ? ? ? With a seller you have days on market time as an advantage. With a buyer, as a broker, you have to make market disclosures reflecting the sale side of the transaction more so than the value side. Price is my business. Value is the business of the lender. I'm a broker.........