Getting a Real Estate Agent Letter for Your Property Tax Appeal
TL;DR
A comparative market analysis (CMA) from a real estate agent provides free comparable sales data in a professional format. Many agents will prepare one at no charge, hoping to build a relationship. The CMA includes recent sales, pending sales, and active listings. While not as authoritative as a professional appraisal, it carries more weight than your own research because it comes from a licensed professional with MLS access.
What Is a CMA?
A Comparative Market Analysis is a report prepared by a real estate agent showing recent sales, pending sales, and active listings for homes similar to yours. Agents use CMAs to help sellers price homes, but the same data works for tax appeals.
How to Get a Free CMA
- Contact 2-3 local real estate agents
- Explain that you are preparing a property tax appeal and need comparable sales data
- Ask if they would prepare a CMA for your property
- Many agents will do this for free, as it builds goodwill and could lead to a future listing
What a Good CMA Includes
- 3-5 recent comparable sales with full details
- Sale prices, dates, square footage, and property features
- Estimated market value of your home
- The agent's professional opinion on your home's condition and value
CMA vs. Appraisal for Tax Appeals
| Factor | Agent CMA | Professional Appraisal |
|---|---|---|
| Cost | Usually free | $300-$500 |
| Weight with board | Moderate | High |
| MLS data access | Yes | Yes |
| Certified opinion | No | Yes |
| Interior inspection | Sometimes | Yes |
Getting the Agent's Support Letter
Ask the agent to write a brief letter on their letterhead stating their opinion of value and the comparable sales that support it. This professional format adds credibility to your appeal packet.
Frequently Asked Questions
What should I know about getting a real estate agent letter for your property tax appeal?
A comparative market analysis (CMA) from a real estate agent provides free comparable sales data in a professional format. Many agents will prepare one at no charge, hoping to build a relationship. The CMA includes recent sales, pending sales, and active listings.
What Is a CMA??
A Comparative Market Analysis is a report prepared by a real estate agent showing recent sales, pending sales, and active listings for homes similar to yours. Agents use CMAs to help sellers price homes, but the same data works for tax appeals.
What should I know about getting the agent's support letter?
Ask the agent to write a brief letter on their letterhead stating their opinion of value and the comparable sales that support it. This professional format adds credibility to your appeal packet.
Get Professional Evidence for Your Appeal
Our $79 Evidence Packet provides comparable sales analysis from multiple data sources, formatted and ready for your appeal hearing.