How do I create a CMA?

RPR’s CMA (Comparative Market Analysis) workflow is a process where you will confirm the property facts, choose comps, make adjustments, review your result, and create a report. Select the Create CMA link on the Pricing Tools section of the Property Information page to begin. See below for step-by-step instructions.

We offer two CMAs, this article is about our standard CMA workflow with simple adjustment options. For information on our appraisal style CMA that allows for greater adjustments and the ability to weight your comps, see How do I create a  Sales Comparison Analysis?.

Access CMA

On any residential Property Information page, click the Create CMA link in the Pricing Tools section.

Known Property

Is there a specific comp you would like to use? In Step 2, you can enter an address or MLS ID in the Add a known property field.

Omit RVM®/AVM

Click the plus sign (+) to the right of the report name, and put a checkmark in the box next to “Suppress estimated value for subject property.

Step-by-Step Instructions

Click on the tabs below to follow the step-by-step instructions.

Access

To access the CMA tool, go to the Property Information page of any residential property and click the Create CMA link in the Pricing Tools section.

5-Steps

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 grayed out and unclickable until you complete the previous step.

Step 1 – Confirm Facts

  • Important: Find Select Analysis Type and select the circle next to Comparative Analysis.

  • Select the Confirm Facts button.

Your Changes

  • 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. 

  • 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.

Choose Comps

  • 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.

  • Keep in mind that the CMA calculation is based on the price per square foot.

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 to consider how each comp compares to the subject property.

Make Adjustments

  • Rate each comp as it compares to the subject property.

  • Move the slider to the left or right to indicate that a comp is worse or better than the subject property.

  • Moving the slider changes the price per square foot that is applied when calculating the subject property estimate

  • Moving the slider to the left indicates that the comp is worse than the subject property and increases the subject property estimate.

  • Moving the slider to the right indicates that the comp is better than the subject property and decreases the subject property estimate.

  • Each comp’s price per square foot is multiplied by the subject property’s living area. The results for all your selected comps are averaged, yielding the subject property estimate.

Other Options

  • You can change the order that your comps will show in your report at the top of the page, within the Show drop-down.

  • You can also choose a different listing record, public record, or a value that you created using our Refined Value or CMA tools. See the drop-down menu just above the property status.

Update Valuation and Close

Click the Update Valuation and Close button at the bottom of the page to continue.

Step 4 – Review Result

Review the result of your CMA. Click Edit if you want to edit the result or range (e.g. round up or narrow range). Click the Save button when finished.

Edit

Step 5 – Create Report

Click Create Report button to generate a Seller’s Report, Property Report, or a Mini Property Report.