When it comes to pricing in real estate, it’s important to thread the needle. Set the price too high? No one will come to buy and you’re left with unsold property. Too low? You’re running the risk of leaving money on the table and failing to meet client expectations. And that’s just if you’re selling. When representing a buyer, you want to prove your knowledge of their preferred market by knowing exactly what the sweet spot is. That’s why agents and brokers rely upon what’s called Comparable Market Analysis, or CMAs, to give a complete rundown of property worth to their prospective clients.Â
However, it can be difficult to create a great CMA, as there is a lot of data that can alter a home’s worth. Everything from external factors to structural details can factor in. How old is the property? Are there coveted neighborhood amenities? What have similar, nearby properties sold for recently? All these questions matter and can affect a client’s ultimate decision.Â
What’s more, if you give clients a mile-long spreadsheet of raw data you’ll be greeted by their wall-eyed looks of confusion. As your faithful MLS, CRMLS is here to offer you core products that not only provide easy ways to make CMAs but can also help make them look appealing. Here are some options so you can impress upon your clients with thorough and easy-to-read info, clean design, and maybe a fancy graphic or two.
If you want to quickly turn all the info the MLS has to offer into a dynamite presentation for a client, then CloudCMA is your answer. Get a complete breakdown of a property’s value all at once as CloudCMA constructs a visually appealing and richly detailed print report that’s wholly branded to you. Print reports have long been the industry standard, but as more and more businesses have moved online, CMAs have followed suit. CloudCMA comes with the option to present to your clients through their preferred teleconference tool with an intuitive and interactive interface, which means you can amend your presentation on the fly and adapt to your clients’ needs. CloudCMA is a rich tool with a plethora of functions, so check out some of our complete guides in our Knowledgebase.
A property doesn’t exist in isolation. No matter how pretty the architectural details are, or how many cars the garage can fit, every property is in a market, and it pays to know that market inside and out. InfoSparks gathers market data, covering trends, neighborhood metrics, and more, then converts them into easily understood charts and graphs. Generate maps complete with the information you need to analyze what areas are right for your clients. See more on how to use InfoSparks here.
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REALTORS Property Resource® (RPR)
Created by the National Association of REALTORS®, RPR offers the nation’s largest property database, compiled from hundreds of datasets on millions of listings. RPR is a real one-stop-shop for informational needs, with tools for valuation, prospecting, and more. But it also helps turn information into CMAs and other reports that will be easy for clients to understand so they can appreciate the broad concept of a home’s value. It’s even optimized for mobile. RPR offers something for everyone, so get a look at everything you can do with this incredible core product. Â
Remember, CMAs are not just informative illustrations of how much a property is worth; they can also empower your clients. They get to learn the rich details that make up a property while you can prove your real estate bona fides and make them feel secure that they’re working with an experienced, knowledgeable, and professional agent.Â
Use CRMLS’s core CMA products to help produce a great impression and elaborate on the nitty gritty details of pricing so you can thread that needle and get to sewing up your next close.
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