Just to make it more interesting, there is also a CMA (competitive market analysis) which I just did for a relocation listing. Our relocation officer used CMA and BPO interchangeably. Generally, these study town-wide market statistics like amount of inventory, how many houses sold per month recently, absorption (how many months it will take to sell the available inventory), what is happening in the town to affect real estate, trends, etc.

Then the individual property is analyzed: what you improvements/repairs you recommend to get it ready to sell, and how much money it would cost. What is the price recommendation, and how would the house stack up against comps. Both active comps and recent sales are taken into account. Each characteristic is compared and laid out next to each other: style, size, garage, attic, basement, lot, view, location of bonus room, number of fireplaces, etc. Then the agent takes each comp and rates it against the subject property. Hopefully if good data is used, a reasonable market analysis will result. But as we all know, the analysis is just a guideline, and every house is different. Whether it is a bank analysis for a short sale, appraisal for a mortgage, or a relocation, it is really helpful to have someone do the work who is local and who knows the area. Pricing a house is not painting by numbers.

BMA stands for Broker Market Analysis. Looks like an appraisal form. I can email you a blank form if you want to see it. BPOs are also done for relocation - same type of form.

Hi Sandy,
A BPO is a broker price opinion obtained by banks in foreclosure situations. It is more structured and comprehensive comparative market analysis, from what I understand. Not sure what a bma is.

Linda Raymond