What is a CMA?
Comparative Market Analysis (CMA) is a term Real Estate Agents use to describe an in-depth process of evaluating a home’s true worth in today’s market. CMAs help homeowners understand their home's value based on the value of recent properties that sold in their neighborhood.
When someone requests a CMA, it could be an indicator they're considering selling their property to either relocate or purchase a new property as a source of additional income.
Where do CMA requests come from?
Homeowners can request an expert opinion through the "Tune Your Value" module in their report. Learn how that works here.
Because homeowners typically work with a Real Estate Agent to complete their CMA, Loan Officers can easily assign inbound CMA requests to their co-sponsored Real Estate Agents in Homebot. If you’re a Loan Officer, learn how to hand off CMA requests below.
How it works
When homeowners want your help coordinating a CMA, you'll receive an email alerting you of the request.
find your client in your portal and click on their name to be taken to their profile.
You can preview their report before giving them a call and scroll through their activity.
When on the phone, let them know you noticed they adjusted the value of their home and you're calling to understand their intentions and confirm if they'd like a professional opinion.
If you’re their Real Estate Agent, perform the CMA outside of Homebot and update the value manually by clicking one of the two buttons highlighted below:
If you’re their Loan Officer and your client wants to be connected to a Real Estate Agent, click on Assign to agent to hand it off to one of your co-sponsored agents:
If you're not cosponsoring agents, pass it to one of your trusted agents.
If Your Client Has a Preferred Real Estate Agent …
When a client is working with a preferred agent, it's a great opportunity to expand your network in real life and on Homebot through co-sponsorship.
CMAs are a great pitch for getting an agent to partner with you on Homebot and a great way for you to stay top of mind for a client!
🚨Best practice: If you're working with a buyer, add their preferred agent to their buyer profile. That way, any questions on a particular listing in Homebot home search will be routed to you and the preferred agent, instead of the listing agent.
Once you have the updated value, click on Complete CMA to enter the updated value and give them a range to play with, should they make home improvements in the future. The client's report will update immediately.
If You are not co-sponsoring agents but want to learn more:
Click here to learn how to pitch agents who aren't yet on Homebot or read all about the benefits of co-sponsoring agents here.