A magnification of 1 (plus or minus) means that the image is the same size as the object. If m has a magnitude greater than 1 the image is larger than the object, and an m with a magnitude less than 1 means the image is smaller than the object. If the magnification is positive, the image is upright compared to the object; if m is negative, the image is inverted compared to the object.
We know convex mirror produces image smaller than object and concave mirror produces image larger than object. So m=2 is for concave mirror and -2 for convex mirror. Also real images are always inverted i.e m is negative for real images and virtual images are upright and m is positive . so (-1÷2) is for real image and (1÷2) is for virtual image.