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Rhonda Rooks, Real Estate Pro in Atlanta, GA

Will Giving a Free CMA Get You the Listing?

Asked by Rhonda Rooks, Atlanta, GA Wed Mar 28, 2012

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Interesting how everyone assumes that the opposite of "giving a free CMA" is "charging for a CMA." rather than "not giving a free CMA."

I know it's not done much, but couldn't an agent say: "I'm going to show you how I'm going to market your house. I'm going to show you a lot of solid references. I'm going to advise you on things you should do to get your house ready to sell. And I'm a terrific negotiator. However, I'm not going to present a CMA prior to getting the listing because I don't want the decision to be reduced to 'Who's presented the highest CMA?' The market determines what your house is worth, and that doesn't vary based on different agents' CMAs. My skills are in advising you how to maximize the value, in effectively marketing your house, in assisting you in negotiating with buyers, and in making sure that the transaction proceeds smoothly. If you determine that I'm the best agent to list with--and I think you will--at that point of course we'll do a CMA."

If you choose not to go that route, then a potential seller will expect a CMA from you. So, while it won't get you the listing, failure to provide one without a strong counter argument may well work against your getting the listing.

Hope that helps.
1 vote Thank Flag Link Wed Mar 28, 2012
PERFECT!
Flag Thu Mar 29, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Yes. You are guaranteed the listing if you do the CMA for free. Works every time for me.
1 vote Thank Flag Link Wed Mar 28, 2012
It depends on the purpose of the CMA. In some cases the home owner intends to get their taxes adjusted. Others are simply curious and FREE is irresistible. Still others go for the annual check up.
Then, there's the one who needs to sell their home. It very likely I've left a few flavors out.

So, how do you sort out the sellers from the rest? If you knew the requesting party was not going to sell this year, would you say, "Give me a call when you are ready to sell your home" or would you do the CMA anyway? Of course, many provide an on-line CMA using on-line data which also has on-line limitations. Most agents will provide these CMA's to everyone who asks. After all, we certainly don't want them believing Zillow or Trulia can provide anything other than a random number.

Having successfully sorted the sellers from the rest, and have that appointment scheduled, you need to focus on what the seller really needs to know. In the overwhelming number of cases they already know what their home is worth and what they are willing to sell it for. So, what do they really want to know? Understanding this is the secret to getting the listing.

Answer those four question EVERY seller has, but don't know they have until you point it out, and you will hit a home run while others are presenting a mind-numbing power point.
1 vote Thank Flag Link Wed Mar 28, 2012
It should definitely help you get the listing. Agents are offering to do this for potential clients all the time so I offer this to my potential clients as well. I just beleive that you really have to take your time and really look at everything so you can give your potential client the best possible CMA.
1 vote Thank Flag Link Wed Mar 28, 2012
Doubtful. Pretty much every agent gives a quick CMA during a listing appointment.
0 votes Thank Flag Link Wed Aug 29, 2012
A CMA is not an appraisal and should not be considered the equivalet of an appraisal.
0 votes Thank Flag Link Mon Aug 27, 2012
It will certainly get you some good will, but so many agents are doing this, you can't count on the listing.
0 votes Thank Flag Link Thu Mar 29, 2012
A CMA is one of the many tools that should be used when vying for a listing--equally important are showcasing why they should choose you as their agent. Every agent in the industry can prepare a CMA --you need to show them what you are doing to get listings sold that no one else is doing. A compelling reason to choose you to sell their home will win the listing every time...
0 votes Thank Flag Link Thu Mar 29, 2012
It seems that a CMA only has value as long as it supports the seller's opinion of the value of their home...................................
0 votes Thank Flag Link Thu Mar 29, 2012
Don is actually on to something. I never brought a CMA to a listing appointment. It takes hours to do a good one and I'm not even hired yet. I would tell clients what I would do to get their home sold. If they hired me, a CMA was what they got as part of the job after choosing their agent. If someone was just looking for an agent to tell the highest amount they could sell their home for, they don't truly understand what the are hiring. I don't determine the CMA, it's just data. So, if it's not going to change wether they hire me or not, what's the point of doing one for FREE. By not doing a CMA you can actually stand out from the rest and get hired. Great answer Don.
0 votes Thank Flag Link Thu Mar 29, 2012
It all depends on how much you and your CMA impress the seller.
0 votes Thank Flag Link Wed Mar 28, 2012
It certainly does not hurt.
0 votes Thank Flag Link Wed Mar 28, 2012
Don Tepper answered it best. Thanks Don!

Interesting how everyone assumes that the opposite of "giving a free CMA" is "charging for a CMA" rather than "not giving a free CMA." -- Don Tepper
0 votes Thank Flag Link Wed Mar 28, 2012
Me using the word free, definitely doesn't mean that I had plans on charging a potential client for a CMA. I definitely wouldn't expect to get the listing after attempting to charge them and I didn't think it was legal to charge someone for a CMA. As agents, we all know that CMA's are free.
Flag Wed Mar 28, 2012
Nope. I don't think so. I think it helps keep your name in front of them, but it doesn't get you the listing. Good luck to you!
0 votes Thank Flag Link Wed Mar 28, 2012
No, it doesnt get you the listing, but it sure helps. It does give you the opportunity to meet the potential client face to face and 9 times out of 10, that usually wraps up the deal. This is a people based business and buyers and sellers still want that personal interaction.
0 votes Thank Flag Link Wed Mar 28, 2012
Giving out a free CMA may not get you a listing, but not giving one may lose you a listing. This is a service that most agents readily supply as a foot in the door, and it shows customers that you are knowledgeable about their neighborhood.

However, if you agree to supply a CMA, do so only if you can present it face to face and make a listing pitch at the same time. If the customer has indicated that he or she is not ready for a formal presentation because they're only in the "thinking about selling" stage, then your listing presentation need not be formal. However, it will make sense to discuss with the owner what they have in mind and give them a hint of how you can get their home sold--just in case they move beyond the thinking stage.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
Web Reference: http://www.JablonTeam.com
0 votes Thank Flag Link Wed Mar 28, 2012
@ Lynne Arnold, Agent, Fort Worth, TX : I do understand, that you show them current market trends but Which kind of plans do you plan with Owners. Will appreciate your help.
0 votes Thank Flag Link Wed Mar 28, 2012
No way!!! You must convince them you can sell their home and that you want to. I recently went up against another Agent with more experience. I got the listing because I was more prepared for the Listing Appointment and gave them more information regarding the current market/trends. Additionally, I showed them everything I planned on doing for them. The other Agent was vague and didn't set expectations.
0 votes Thank Flag Link Wed Mar 28, 2012
In Ohio we can not by law charge for a CMA.
0 votes Thank Flag Link Wed Mar 28, 2012
That's a pretty funny question. No one I know charges for a CMA. So, no, it's not going to help you get the listing. Being good at what you do and knowing your information and having success will get you a listing.
0 votes Thank Flag Link Wed Mar 28, 2012
As Realtors it should be considered a service to the community to provide evaluations. As far get "you" listings, the only true way to get listings is "face to face". Your goal should be to set an appointment, especially If you are to provide actuate information. If these are online leads who don't provide phone numbers to follow up on, you should work on writing phases which will get them to call you. Such as..., I specialize in home sales in this area, this is an subdivision were I -or - my company has sold many homes in the past. I have unique information which could assist you in the sale of your home.
Hopeful that will get your mind set to spark up a few ideas geared towards your services.
0 votes Thank Flag Link Wed Mar 28, 2012
Hi Rhonda,

I've never heard of anyone charging for a CMA. Realtors do CMAs in the hopes of getting the listing but just because you do a CMA doesn't mean you're going to get the listing.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Wed Mar 28, 2012
I'm all over Alain's answer...

Do the best job at creating your CMA. Don't sugar-coat it. You now know for sure that they are requesting free CMA's from every single agent they are considering. So write a really good cover letter to support your CMA. "Buying the Listing" is definitely a practice that some agents still do. Just make sure you don't do that. But tell them about it. I tell all my potential Sellers what "Buying the Listing" means so they will know to look out for it and to kick those agents to the curb immediately.

Good luck!
0 votes Thank Flag Link Wed Mar 28, 2012
I think in some cases it will, depends on the person character who want the CMA, some people dont respect Agents time. So if you know from conversation who you dealing with, I think its a great ideal to give a customer a CMA, if you can get the listing and more referral business.
0 votes Thank Flag Link Wed Mar 28, 2012
No, but it is a chance to get your foot in the door.
0 votes Thank Flag Link Wed Mar 28, 2012
As far as I know all CMA's are free, good luck charging for one. Listings are never guaranteed.
0 votes Thank Flag Link Wed Mar 28, 2012
Me using the word free, definitely doesn't mean that I had plans on charging a potential client for a CMA. I definitely wouldn't expect to get the listing after charging them. As agents, we all know that CMA's are free.
Flag Wed Mar 28, 2012
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