To access the Sales Comparison Analysis, go to the Property Information page and click the Create CMA link found in the Pricing Tools section.
You will land on our 5-Step CMA page where you will review the property facts, find comps, make adjustments, and create a report. Some steps are unclickable until you complete the previous step.
Step 1 – Confirm Facts
Important: Find Select Analysis Type and select the circle next to Sales Comparison Analysis.
Select the Confirm Facts button.
Review the property facts and make any needed updates in the Your Changes column.
The asterisks indicate the property facts used to pull the comps. If any of these facts are missing, you will need to add a value in the Your Changes column.
The lower half of the page contains fields that are rarely present in public or listing data. To create this appraisal analysis, enter values or choose from the drop-down menus to fill these fields.
Click the Confirm Facts and Close button.
Step 2 – Find Comps
Click the Find Comps button.
Apply Filters and Search
Select the filters that you would like to use from the panel on the left side of your screen.
Click into a field to enter a number, date, or to choose from a drop-down menu.
Some fields populate with defaults based on the subject property, but there must be a checkmark in the box next to the item to apply the filter.
The search occurs within the area shown on the map.
Click the search button when you are finished apply filters.
Search using the Map
You can also use the map to find comps. Click the + or – sign to zoom in or out of the map to increase or decrease your search area.
You can search within an area that you have previously saved. Choose an area from the Use a custom area drop-down menu.
Or search within a geography, like a neighborhood or a school attendance zone. Make a choice from the Use a geography drop-down menu.
Click the Search button when you are finished.
Click the box next Add to Comps List to select a comp. The comp will appear in the panel on the right side of your screen.
Select a comp property’s address to open its Property Summary to see the comp property’s RVM®/AVM, property facts, listing photos etc.
Comps with a blue star indicate properties that were used in calculating the subject property’s RVM® or AVM.
Add a Known Property
Would you like to add a known property as a comp? Scroll to the top of the page and select Add a known property.
Enter an address or MLS ID (one at a time) in the field provided.
Click the Add button. The comp will be added to the panel on the right side of your screen.
Update Valuation and Close
Click the Update Valuation and Close button when you are finished.
Step 3 – Adjust Comps
Click the Adjust Comps button.
Compare the features of the comp properties to the features of the subject property.
Make dollar amount adjustments per your comparison.
Aim to make the comps equal to the subject property. If a comp has superior features, enter a negative number. If a comp has lesser features, enter a positive number.
Locate Comp Weighting at the bottom of the page (beneath each comp column). Click any one of the Edit links to weight all comps.
Weight your comps by applying a percentage based on how similar the comp property is to the subject property.
If you had to make a lot of adjustments to a comp property, it should be given a lower percentage.
The more alike the comp is to the subject property, the higher the property should be weighted (give it a higher percentage).
Total Weighting must equal 100%.
If you do not want to weight your comps yourself, you can click Auto weight. The system will weight your comps for you taking into consideration the adjustments that you have made.
You can also choose to click Weight Equally to have the system weight all the comps the same.
Tip: If any comp is weighted at 0% it will not be used to calculate your Sales Comparison Analysis Result, but will still be displayed in your Valuation Workbook.
Step 4 – Review Result
Review the result of your analysis. Click Edit if you want to edit the result or range (e.g. round up or narrow range). Click the Save button when finished.
Step 5 – Valuation Workbook
Click Create Report button to generate a Valuation Workbook.