The art of the CMA- what is the best way to present this data?
Perhaps the most important tool we have as real estate agents is the ever revealing CMA. It means a lot to our profession doesn’t it? If we’re going to show sellers what their property is really worth, we need a good CMA. If we’re going to help our buyers pick an appropriate starting point for an offer, again, we need the CMA.
But what is the right way to CMA? Now, I know the statistics that are in play such as the listing price, sold price, price per square foot, days on market, and so on. But the most puzzling part of a CMA, in my opinion, is the delivery.
Of course, we all like pretty charts and shiny graphs. But in my recent experience, I’m finding it somewhat difficult to justify a glitzy graph when simply listing the information will do. Let’s look at an example of a simple graph.
Take a look at 1710 Rose Lane. How much did that house sell for? Between $207,500 and $215,000 right? But how much, exactly, did it sell for? How about 3721 Ingram Drive?
Now, what if I listed it this way?
- 1710 Rose Lane – $210,900
- 3721 Ingram Drive – $218,900
Isn’t that easier? Perhaps more functional? Don’t get me wrong, I’m all about graphics and presentation. I would absolutely love to dress it up and make a CMA stand out. But when it comes down to it, customers want the facts and that’s what we should give them. I think pie charts and graphs work great when comparing more than one neighborhood, but what about one neighborhood? One house?
How do you prepare your CMA? What stats, charts, and graphs do you use? Could some of the information be relayed more efficiently in plain text? Your knowledge is power. Share your strength!
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This article published on Wednesday, August 4th, 2010 at 2:31 pm | Contact the editor
Topics: Marketing
About this Columnist (Full Profile)
Michael is a copywriter turned social media maniac who digs marketing. A graduate of the University of Alabama, he has a degree in advertising with a minor in psychology. His theory: combining traditional advertising and old school values with the technology of today is a great way to go about your business. So what’s he doing here? He’s a real estate agent trying to find his way. He’s taken his license and marketing ideas to @Homes Realty Group in Huntsville, Alabama. He’s here to learn from you, the AG community, and hopefully share useful information with you in return. You can find Michael talking marketing at MichaelBertoldi.net and his real estate blog is ThisisHuntsville.com
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Comments (25)
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- aleah james:
The art of the CMA- what is the best way to present this data?: Now, what if I listed it this way? 1710 Rose Lane … http://bit.ly/9wQ2X4
- Natasha Hall:
The art of the CMA- what is the best way to present this data? http://ow.ly/18qXAk
- CEA:
The art of the CMA- what is the best way to present this data? http://bit.ly/aWbCXb
- realdiggity:
The art of the CMA- what is the best way to present this data?: comments http://bit.ly/d0fciN
- Melanie Eddolls:
RT @agentgenius: AgentGenius: The art of the CMA- what is the best way to present this data? Full http://ow.ly/18qXAk
- AgentGenius:
#agnow I think your bar graph just gave me an idea. Typically I just list some homes that recently sold along with … http://bit.ly/baKdwe
- AgentGenius:
#agnow I think the best way to present the data would be with their choice of whiskey or scotch, if that was reason… http://bit.ly/baKdwe
- AgentGenius:
#agnow I like to bring a CMA not only including the recently solds, but the property that is active to show what co… http://bit.ly/baKdwe
- Stewart Title Group:
The art of the CMA – what is the best way to present this data? (AgentGenius) http://dld.bz/qAJk
- AgentGenius:
#agnow I try and keep it simple, one page, no graphs, finding the closet matched homes in size,
area, bedrooms, ba… http://bit.ly/baKdwe - AgentGenius:
#agnow Mike,
I gave up with all the graphics a long time ago. In fact, I just did one late last week and here's wh… http://bit.ly/baKdwe
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
I think your bar graph just gave me an idea. Typically I just list some homes that recently sold along with info on square footage and bedrooms. I think a visual like a bar graph might also be helpful, so someone can have a visual idea of where they should price their home. I’ll have to think of some more details, but that’s an idea I think I’ll play around with.
I can’t wait for the RPR Realtor Property Resource to be released so we can use those awesome tools. I hear they have some great reports.
AgentGenius: The art of the CMA- what is the best way to present this data? http://bit.ly/dhLujS Full http://bit.ly/de97Wb
The art of the CMA- what is the best way to present this data? http://bit.ly/9wQ2X4
The art of the CMA- what is the best way to present this data? http://bit.ly/9ma8wJ @AgentGenius
The art of the CMA- what is the best way to present this data?: Perhaps the most important tool we have as real es… http://bit.ly/9wQ2X4
RT @agentgenius: AgentGenius: The art of the CMA- what is the best way to present this data? Full http://bit.ly/9ma8wJ
The art of the CMA- what is the best way to present this data? – Perhaps the most important tool we have as r… http://tinyurl.com/22nsgw3
Real Estate News: The art of the CMA- what is the best way to present this data? http://bit.ly/cMvfke
The art of the CMA- what is the best way to present this data?: Perhaps the most important tool we have as real es… http://bit.ly/aaBxW8
I think the best way to present the data would be with their choice of whiskey or scotch, if that was reasonable and ethical. I like to have the data that shows the bottom line most clearly, so we can go right to work on getting over what it may have been worth in 2006 and on to the market reality of today.
I like to bring a CMA not only including the recently solds, but the property that is active to show what competition were up against and also to show the expired’s so they know what prices people are not willing to pay.
I try and keep it simple, one page, no graphs, finding the closet matched homes in size,
area, bedrooms, bathrooms, etc. and using the data to make my recommendation. I don’t know that colorful charts would have much of an impact, especially with an emotional seller who over estimates the value of his or her home.
Mike,
I gave up with all the graphics a long time ago. In fact, I just did one late last week and here’s what it looked like:
Client:
This is a little easier to go over in person, and I’ll be happy to do it that way as well. Until then, here’s a brief synopsis of the activity in Hampton Hall in Alpharetta:
Current Actives (5) (all have finished basements)
1680 Ridge Haven Run, 6BR 4.5BA $599,800
1545 Highview Pines Pass, 5BR 4.5BA $569,900
710 High Hampton Run, 5BR 4.5BA $549,000
8245 High Hampton Chase, 5BR 4.5BA $529,000
1730 Rodge Oak Place, 5BR 4.5BA $500,000
Pending Sale (1) (has finished basement)
110 Haven Bluff, 5BR 4.5BA $575,000 – ask price, will not know final price until after closing.
Homes Sold since 1/1/2009 (4)
8580 High Hampton Chase, 5BR 4BA List Price $579,000, Sold Price $551,000 DOM 17
8380 High Hampton Chase, 5BR 4.5BA List Price $548,000, Sold Price $514,500 DOM 200
250 Beacon Knoll Drive, 5BR 4.5BA List Price $489,900, Sold Price $463,600 DOM 24
8375 High Hampton Chase, 4BR, 3.5BA List Price $495,000, Sold Price $417,000 DOM 100
All had finished basements except 8375 which had a unfinished basement.
Pretty unflashy!