A CMA (Comparative Market Analysis) is an analysis of the value of a property by using comparable properties (Properties similar to your subject property in size, condition, area, ETC) to evaluate and determine the current market value of a property. In this post we’ll show you how to populate a CMA whether you’re a buying or a selling agent.
To prepare a CMA report you must first conduct a search for similar properties. Searching by zip code alone may yield numerous results, so include ranges when possible, such as Year Built, Square footage, and Price. Once you select the Results at the bottom, you can view the Map and narrow your search to a specific area by using the drawing tool. You can also go back to Criteria and adjust your search as needed. Learn more about Matrix searches.
Check-off the listings you want include in a CMA and select CMA from the bottom action bar.
Select a contact and add a description. Please note: Selecting a contact is optional.
Select your pages to include in the CMA.
There are a lot of options to include in the CMA report. To see a sample of all of the pages, visit our CMA report samples. Here’s an example of what some members have previously included as part of their CMA.
- Cover sheet w/agent photo
- Minimums and Maximums – Provides the ranges for listing criteria in report
- Pricing recommendation – It’s great for selling agents to provide clients
- CMA brief
- Benefits of a using a REALTOR®
Set the subject property.
You can enter the subject property in one of three ways.
- Type in the subject property fields manually;
- Search Matrix for your subject property and then select it for auto-fill;
- Type in the MLS number for your subject property to be auto-filled.
Modify as needed (Cover, Comparables, Adjustments, Pricing)
- If you have included a cover, a photo and client contact information will automatically upload. You may make edits to the contact information and upload additional photos.
- Agent information does not auto-fill so fill in the information as you’d like for it to appear in the report. If you’d like to avoid filling in the same information every time, you can select “Set as default” to auto-fill in the future.
In the comparables section, you may add or delete comparable listings and change listing statuses to pull up new results. To add in other statuses, select Search for Additional Comparables to bring up the search screen. Add selected to add listings to the report.
Adjustments to comparables: This allows you to set a value for any feature and have all of the comparables automatically adjusted according to that setting. We recommend doing price adjustments if you have appraisal experience or have consulted with an appraiser.
Pricing Recommendations: An additional analysis will provide you with a recommended price. An open field is located at the bottom of the additional analysis for you to make your own recommendations based on the market.
View it, print it, email it – You’re done!
Quick CMA gives you a summary list of comparables. If you’re only looking for the listings and do not need an entire presentation, Quick CMA is your solution. Simply run your search, select from the results which listings to include in the report, and select Quick CMA from the bottom action bar. To email listings, select the Email option from the toolbar or save the CMA report as a PDF and email the document.