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.
- Search listings
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.
- 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. Selecting a contact is optional, but connecting a contact to the CMA will allow you to keep track of what information you’ve sent to which clients.
- 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, please see the PDF attachment at the bottom of this article. To add specific pages click on the + icons to the left of the Available Pages categories or to add the whole category just click the name of the category and all the pages will be added. For example, the Subject/Adjustments and Map categories contain vital information, useful for all CMA reports.
- Set the subject property.
You can enter the subject property in one of three ways.
- Type in the subject property fields manually
- Type in the MLS number for your subject property to be auto-filled from
- Search Matrix for your subject property and then select it for auto-fill
- Modify as needed (Cover, Comparables, Adjustments, Pricing)
- If you have included a cover, a photo can be added and client information will automatically upload if the CMA is connected to a Contact.
- Agent information auto-fills based on the information found on the CMA Cover Sheet portion of the My Information section (at the top right click on Hello, [your name], then Settings, then on the left My Information)
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. As a reminder, if you haven’t added the “page” for the Map on the Pages section it won’t be available on the tabs at the top.
This tab allows you to set a value for any feature and have the overall statistics for the comparables automatically adjusted according to those changes. We strongly recommend doing price adjustments only if you have appraisal experience or have consulted with an appraiser.
Finally, the space to enter in your recommendation for pricing. This tab includes additional analysis that will provide you with a recommended price and space below to type out a static number, a range, and below that notes on how you came to that conclusion.
- 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 action bar at the bottom. You can also combine the Quick CMA PDF with other reports using the Print function and then holding either Ctrl on Windows or Cmd on MacOS to select other reports.