New CMA Form - Competitive Market Analysis (CMA) Notice
A new regulation recently took effect in Maryland regarding Competitive Market Analyses (CMAs). (Note: The term "Comparative Market Analysis" has been changed to "Competitive Market Analysis.")
The new regulation specifies the duties and obligations of real estate licensees who perform CMAs. Included in the regulation are certain disclosure requirements.
Additionally, Article 11 of the NAR Code of Ethics also requires certain disclosures in the preparation of a CMA. A new form has been developed to comply with the requirements from the Maryland Real Estate Commission and the Code of Ethics. The requirements of the Maryland Real Estate Commission do not apply to Washington, DC, but this form can still be used in Washington, DC to faciliate adherence to the NAR Code of Ethics.