What is one of the key benefits of conducting a comparative market analysis?

Conducting a comparative market analysis (CMA) is primarily focused on establishing a fair market value for a property based on the selling prices of similar properties in the same area. This process involves analyzing various factors such as property size, condition, location, and features, which allows agents and brokers to provide accurate pricing recommendations to buyers and sellers. By looking at comparable listings, a CMA helps ensure that a property is competitively priced in the current market, which is crucial for facilitating successful transactions.

The other choices, while relevant in different contexts, do not align with the purpose of a CMA. For example, determining mortgage eligibility involves assessing a buyer's financial situation rather than evaluating property value. Identifying potential zoning violations pertains to land use regulations and compliance issues, which are outside the scope of property comparisons. Finally, calculating tax deductions relates to tax planning and real estate ownership rather than directly influencing the market value of a property. Thus, establishing a fair market value based on similar listings is the most significant benefit of conducting a comparative market analysis.