A CMA is an analysis prepared by a licensed real estate professional (REALTOR®) that compares a subject property to recent sales, current listings, and expired listings of similar properties to estimate a likely market price range. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and BCFSA Rules, a CMA is the licensee's professional opinion to help determine an appropriate list price; it is not an appraisal and does not carry the same legal or regulated status as an appraisal prepared by a certified appraiser. Verify current BCFSA standards and licensing obligations with a BC lawyer or the British Columbia Financial Services Authority before relying on any CMA.

No. A CMA is a licensee's professional opinion prepared under the Real Estate Services Act (RESA) and BCFSA guidance to estimate market price, while an appraisal is a formal valuation prepared by a certified appraiser, often required by lenders or for legal purposes. CMAs are typically provided at no charge by listing agents as part of their service, whereas appraisals are fee-based and regulated separately. Verify the distinctions and whether you require a formal appraisal with a BC lawyer, notary, or licensed appraiser.

A CMA may be prepared by a real estate licensee (managing broker, associate broker, or representative) licensed under the Real Estate Services Act (RESA) and regulated by the British Columbia Financial Services Authority (BCFSA, which assumed RECBC's functions as of August 1, 2021). Only licensed professionals may provide CMAs as part of real estate trading services in BC. Verify a licensee's current status on the BCFSA public registry at www.bcfsa.ca before engaging their services.

BC licensees typically use MLS® (Multiple Listing Service) data, which includes recent sold properties, active listings, and expired or withdrawn listings in the relevant market area. BCFSA Rules and professional standards require licensees to use accurate, up-to-date information and to disclose the source and date of comparable data in the CMA. Verify the specific data sources, geographic scope, and date range used in any CMA with the licensee who prepared it.

No. Under the Real Estate Services Act (RESA) and BCFSA Rules, a CMA is the licensee's professional opinion and a tool to guide pricing; the seller retains full authority to set the list price. The licensee has a duty to provide honest, competent advice and to disclose material facts, but the ultimate pricing decision rests with the client. Verify your rights and obligations under your listing agreement with a BC lawyer or notary if you have concerns.

Generally, no. The CMA is prepared for the seller client and is part of the licensee's confidential advice under the Real Estate Services Act (RESA) and BCFSA Rules on client confidentiality and agency duties. The buyer may request their own CMA from their representative or ask the listing agent to prepare a separate analysis, subject to disclosure and consent rules. Verify confidentiality and disclosure obligations with a BC lawyer or notary before sharing or requesting any CMA.

A CMA is not a formal appraisal and may not carry sufficient evidentiary weight for BC Assessment appeals, court proceedings, or other legal purposes where a certified appraisal is typically required. Property tax assessments are governed by the BC Assessment Authority under provincial legislation, and appeals have specific evidence rules. Verify the acceptable forms of valuation evidence for your specific purpose with a BC lawyer, notary, or certified appraiser before relying on a CMA.

Yes. The British Columbia Financial Services Authority (BCFSA) Rules under the Real Estate Services Act (RESA) set out professional conduct and competency standards for licensees, including the obligation to provide accurate, current information and to act in the client's best interests when preparing pricing advice such as a CMA. Licensees must disclose the basis, scope, and limitations of their analysis. Verify current BCFSA Rules and professional standards at www.bcfsa.ca or consult a BC lawyer or notary.

A CMA is typically provided at no separate charge as part of the listing or buyer representation services governed by the brokerage agreement under the Real Estate Services Act (RESA). However, fees, commissions, and services must be clearly disclosed in the service agreement as required by BCFSA Rules. Verify all fees, services, and obligations in your written service contract with the brokerage and consult a BC lawyer or notary if terms are unclear.

A CMA estimates market value to guide listing or offer price, but Property Transfer Tax (PTT) under the Property Transfer Tax Act, RSBC 1996, c. 378, is calculated on the fair market value or purchase price (whichever is higher) as determined by BC Assessment or the BC Ministry of Finance, not on the CMA. PTT rates and exemptions (e.g., First-Time Home Buyer Exemption up to $835,000 as of 2026-07-27 — verify current) are set by statute and may differ from CMA price estimates. Verify PTT obligations and current thresholds with the BC Ministry of Finance, a BC lawyer, or notary before closing.