Winning Over Sellers: Mastering CMAs and Equity Updates With the RPR app

There’s no denying that we live in a mobile-first world. We demand flexibility and convenience across all facets of life, including the world of real estate.

That’s where the RPR (Realtors Property Resource^®) Mobile™ app comes into its own. Readily available at your fingertips when you’re out meeting clients or previewing properties, it makes once complex tasks—like creating a CMA (Comparative Market Analysis) or Estimating Equity—a breeze.

Let’s see how these tools work and how easy they are to use…

A CMA helps you formulate an ideal selling price or a competitive buying offer. But why use your phone for this? Simple! With the RPR app, you can compile a detailed CMA right on the spot. There’s no need to head back to the office or reach for your laptop.

Let’s explore how to easily and efficiently create a CMA using your RPR app:

Apart from generating on-the-spot CMAs, RPR Mobile™ also arms you with another impactful tool: the Estimated Equity Calculator.

Homeownership is not just about possessing property—it doubles up as a significant financial asset. The value encapsulated in homes, termed ‘equity’, can shape one’s financial health dramatically. As a REALTOR^® utilizing this Estimated Equity feature offered by RPR, your insights could become eye-openers for homeowners.

To get started and quickly provide insight into your client’s financial standing, select a subject property and navigate to the ‘Pricing Tools’ section, just below the CMA.

If you’ve completed a CMA, that value will be entered in the Property Value field, otherwise, it’s the RVM^® (Realtors Valuation Model^®) value. Next, you’ll add loan details or confirm the pre-filled loan data. Then it’s just a quick tap on “Create Report” to generate the Estimated Equity Report.

Keep in mind that the Estimated Equity Calculator is just that: an estimate. It should be viewed as an initial step and its purpose is to arouse curiosity and start conversations. Use it as a way to enlighten potential sellers, get their contact info, and set up another meeting.

Discussing equity with potential clients is a smart “foot in the door” type of strategy. Don’t be afraid to pull out your phone, with the RPR app of course, and zero in on that magic number. It can be a great conversation starter, because being a high-equity homeowner brings many benefits, including:

1. It allows for an unburdened house shopping experience, less dependent on loans.
2. For those still seeking financing for their new home, high equity contributes towards lower monthly payments and better loan terms.
3. Homeowners approaching or enjoying retirement years can find comfort in their home equity—providing them with stable financial support when required.

RPR Mobile™ is an indispensable tool for ambitious agents, as it simplifies complex tasks like generating CMAs or estimating equity on-the-go. Its utility extends beyond these tasks by bridging informational gaps between REALTORS^® and consumers, fostering transparent transactions backed by reliable data.