What should you ask CMA clients about before giving your opinion of value?

It is essential to inquire about the price that clients have in mind before providing your opinion of value because this information helps you understand their expectations and perspective regarding the property's worth. Understanding the client's perceived value can guide your appraisal process and enable you to align your professional opinion with their goals and motivations. This dialogue can also uncover any misconceptions they may have about the market trends or pricing, allowing you to better educate them.

Gathering this information creates an opportunity for discussion that can clarify their needs and expectations. It also establishes a foundation for you to explain any discrepancies between their expectations and the market reality. While elements like their financial situation and selling timeframe are important for an overall strategy, the client's specific price expectation directly informs how you approach the valuation process and client communication.