Comparative Market Analysis (CMA)
Creating a CMA in REALM™ is a strategic step in preparing a home for market. This stage showcases the agent’s expertise in evaluating comparable properties, local trends, and pricing nuances using the TRREB REALM™ system. A well-prepared CMA builds trust, educates clients, and sets realistic expectations. By leveraging digital tools, market analytics, and visual presentation formats, agents provide sellers with a clear, data-backed recommendation that reflects current market conditions—ensuring informed decisions and setting the foundation for a successful listing.
Comparative Market Analysis (CMA)
Objective:
To generate a comprehensive and precise Comparative Market Analysis (CMA) using the REALM™ platform, enabling informed pricing decisions for clients.
1. Accessing REALM™
• Login:
• Enter your TRREB credentials (Login ID, PIN, and Password).
• Click “Sign In.”
• Accessing CMA Features:
• Once logged in, click on the four squares icon (often representing a menu or applications) in the top navigation bar.
• Select “Links” from the dropdown.
• In the modal that appears, locate and click on “Top CMA” to access the CMA tool.
3. Inputting Subject Property Details
• Manual Entry:
• Enter the subject property’s details, including address, property type, square footage, number of bedrooms and bathrooms, and any notable features or upgrades.
• Import from MLS:
• If the property has a previous MLS listing, you can import details by entering the MLS number.
4. Selecting Comparable Properties
• Define Search Criteria:
• Set parameters such as:
• Location: Area, Municipality, Community.
• Property Type: Freehold, Condo, Commercial.
• Price Range: Based on current market conditions.
• Date Range: Typically the past 3–6 months for recent comparables.
• Additional Filters: Bedrooms, bathrooms, lot size, etc.
• Map Search:
• Utilize the map drawing tools to define a specific geographic area for comparables:
• Polygon Tool: Draw custom boundaries.
• Circle Tool: Define a radius around a point.
• Review Results:
• From the generated list, select properties that closely match the subject property in terms of size, condition, and features.
5. Adjusting Comparables
• Make Necessary Adjustments:
• For each selected comparable, adjust values to account for differences between it and the subject property (e.g., additional bedrooms, renovations).
• Document reasons for each adjustment to maintain transparency.
6. Generating the CMA Report
• Compile the Report:
• Once comparables are selected and adjustments made, generate the CMA report.
• Customize Sections:
• Include relevant sections such as:
• Cover Page: Personalized with client and agent details.
• Subject Property Summary: Overview of the property being analyzed.
• Comparable Properties: Detailed information on selected comparables.
• Market Analysis: Graphs and charts depicting market trends.
• Agent’s Pricing Recommendation: Based on the analysis.
• Review and Edit:
• Before finalizing, review the report for accuracy and make any necessary edits.
7. Presenting the CMA to Clients
• Delivery:
• Present the CMA report to clients either digitally (PDF) or as a printed document.
• Explanation:
• Walk clients through each section, explaining how the comparables and market data inform the recommended pricing strategy.
• Address Questions:
• Be prepared to answer any questions and provide clarifications to ensure clients fully understand the analysis.
REALM CMA TUTORIAL - https://www.youtube.com/watch?v=6g8oZF1uR-s