Agent2Agent in Boston>Question Details

Wendy Bian, Real Estate Pro in Boston, MA

What platform/software do you use for comparative market analysis? How do you do differently for a free CMA and a full one for listing presentation?

Asked by Wendy Bian, Boston, MA Fri Apr 4, 2014

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Hi Wendy:

Hmmm, A free CMA?
I consider every CMA a listing presentation - even for friends.
Who do you give a crumpled business card to?

Why discount my experience as a professional, my private access to the most correct data, or my personal knowledge of their market?
Those are the reasons they are asking me for a CMA.

The web sites that estimate value, are only as good as the data they are able to procure.
Not all data is available to those estimating sites.
My MLSs do have all the data that those sites are lacking.

Even RPR (or RRP for some) does not have all data from MLS - it is an optional entry button in many MLS entries.
Even MLS data in its internal form has flaws beacuse of the inexperience of new licensees and because of the lack of technical skill (or deliberate mis-entry) of expereinced licensees.

Keep in mind, when a professional relies on those data "sources", they are relying on incomplete data and incorrect data.
Licensees who use poor data sources are endorsing the use of a system(s) that is designed to:
-minimize the need for a professional's involvement (how far into the future, who knows)
-grow a system that will no longer rely on the professionals who are now supplying the data (blindly)

The best way to protect your future:
+ Keep your data
+ Work to keep your MLS data private, and for use by professionals who are gathering and creating it
+ Make your professional presentations as important as your business card
+ Learn about the growing effort to diminish the importance the data sites that use our data to sell us leads and "interfere" with clients finding us directly
+ Make an informed and conscious decision when you compile and present a CMA
+ Act as if the data you have access to, matters
+ Decide if the data you are presenting is from the best source, and presents you in the best light

Who do you give a crumpled business card to?

Just my opinion. Heath

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1 vote Thank Flag Link Sat Apr 5, 2014
I learned something reading that. Thank you.
Flag Thu May 14, 2015
Best way to protect your future.
I trust every professional will read those points many times.

Are you pandering for a BEST ANSWER?
Flag Sat Apr 5, 2014
I purchased CMA Toolkit. It makes a nice presentation. I would like to be able to personalize the pictures on it but for the price it's quick and looks pretty good. Much easier than what is in our MLS.
0 votes Thank Flag Link Wed Sep 24, 2014
lol funny because I am not satisfied with Toolkit CMA and its' simplistic format--the font leaves much to be desired too - but I am looking at CMA's for 2+ Million dollar homes....
Flag Thu May 14, 2015
Nearly every lead generation company, most CRMs and your local REALTORS association will provide a CMA and/or listing presentation document that YOU will be able to edit.

What you will discover are these documents can be over 100 pages!!! SCREECH,,,what?
Yep, if you don't spend time making the report relevant and insuring the numbers are meaningful and explainable, you could find yourself in a big pile of embarrassment.

Wendy, what is your REAL goal, the real outcome you want?

Be aware, the homeowner believes they are well informed. THEY did visit the 'dark side' and printed out the Zestimate. (they think this random number has some relevance to reality)

It is highly likely, you, or another agent has been mailing them market reports on a regular basis.
And when this homeowner is in a real estate frame of mind, the will check the tax records published in the newspaper.

Before you consider doing a data dump on this homeowner,(of stuff they believe they already no and from which you can not dissuade them) assess carefully the outcome you want and the needs of the homeowner, which means, what is the REAL questions the need to have answered. (There are five)

Your CMA or listing presentation should be your vessel to deliver the answer to those question without a requirement of them asking,

Think about that.

You answered their 'real' questions, the really important ones, intuitively. Such demonstration is the express train to trust. You are 99% to your goal, You can still shoot yourself in the foot. Don't do that.

Before you hitch up the data dump pony, consider your goal, and the homeowner. Do not pound them into unconsciousness with data they already know.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes Thank Flag Link Sat Apr 5, 2014
I also use RRP reports. Although, those take no time to run so those are the ones I use for free. My detailed CMA for a listing presentation I do by hand.
0 votes Thank Flag Link Fri Apr 4, 2014
I use 2 different ones depending upon the need. RPR (Realtors Property Resource) for extensive reports and cloud CMA for brief reports. Both of which are free from my MLS service. You can tell that what RPR has to offer is more in depth and detailed versus cloud CMA. If I'm going on a listing presentation I obviously want the more detailed option. Good Luck!
0 votes Thank Flag Link Fri Apr 4, 2014
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