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!
