PropertyBrain helps real estate professionals work smarter through the implementation of tools and learning. Our goal is to help you grow your real estate business and increase your income.
The Most Powerful Way to Create a CMA
The first - and maybe most important - step in estimating the value of a property, is to identify the best potential comparables. We make this extremely easy with our built in search feature. You can easily narrow down your results with custom search criteria, as well as map boundaries, to help you identify only the properties that a typical buyer would consider in their search for a home.
Our market statistics feature shows you the numbers you need to know for the market area that actually matter for the specific home you are doing a valuation on! We help you analyze the number of comps (Active, Under Contract & Sold) as well as statistics such as minimum, medium, and maximum sold price, sale to list price ratios, and days on market.
Markets change over time, meaning that a home that sold one month ago, three months ago, or seven months ago, would likely have sold for a different price today than it did then. The problem is that there has never been a great way to estimate the market adjustments that are needed in this scenario. That is, until now. Our market trend analysis will give you a clear picture of what the market has done over the last year (broken down into 4 time frames) so you can figure out what adjustments would be needed on any comp. We include daily, monthly, and yearly trend values to help you calculate the most accurate time adjustments.
Once you have the market area locked in, its time to pick the best comps. We make it easy to look through the search results to find the properties that are the most similar in size, age, condition, etc. We show you all the property details, as well as all of the photos from the MLS listing to help you decide how each property you look at compares to your property. Once you have identified the properties you want to include in the rest of the analysis, all you have to do is select them!
Making adjustments to comps doesn't have to be difficult or time consuming. For too long agents you have likely either avoided making adjustments, or made them based on outdated numbers provided to you in the past. We help you calculate adjustments based on the market data, and we automatically apply the adjustments for the most important property characteristics. Want to dive deeper? We give you guidance to apply adjustments to charateristics such as location, view, quality, condition, amenities and more.
Once you have applied adjustments, it is critical to review the adjustments to make sure they are valid. We are looking to make sure the adjustment we made narrowed the comparable price range. Our comp grid makes it extremely easy to see how the adjustments you made affected each of the comps.
Using a weighted average reconciliation approach allows you to give weight according to how similar each comparable is, thereby allowing the most similar comps to have the greatest impact on the value determination. Once each comp has been adjusted, the value summary will automatically calculate a statistically supportable opinion of value. We The resulting value estimate will be the most supportable value based on these comps, but we will also show you the supportable value range so you and your clients can decide on the value that is best based on their specific circumstances.
The biggest problem with most CMA tools is that they don't help you come up with the adjustments needed to produce a supportable property value estimate. But on top of that, most of them show the client a limited amount of important data and give a lot of un-important filler information. We wanted to change that. Our Valuation Packet is customized with your branding, and it displays all the data you created in the other features, so that you have the ultimate resource to present to your clients.
