CMA (Comparative Market Analysis) overview

CMA software is a tool used by real estate professionals to help determine the market value of a property by analyzing data on comparable properties in the same geographic area. The purpose of this software is to provide real estate agents with the information they need to price properties accurately and to provide their clients with insights into the fair market value of a property.

Phases

The first step in using CMA software is to gather data on comparable properties. This data may include information on the size of the property, the number of bedrooms and bathrooms, the age of the property, its location, and any amenities it may have. Real estate agents can gather this data from multiple listing services (MLS) and other online databases.

Once the data is gathered, the software can then analyze it to identify patterns and trends in the local real estate market. For example, the software may identify that properties of a certain size or age tend to sell for a certain price per square foot, or that properties in a certain location tend to have a higher value than properties in other locations.

Based on this analysis, the software can generate a report that compares the subject property to comparable properties in the area. This report may include information on the average and median sale price of comparable properties, as well as other key metrics such as days on market and the number of competing properties currently for sale.

Additional features

In addition to generating reports, CMA software may also provide tools for real estate agents to create custom presentations and marketing materials to showcase their findings to potential buyers and sellers. These tools may include interactive maps, charts, and graphs to help illustrate market trends and other key data points.