Kyle, its been 3 years since this was posted. Would you change anything if you made this video today? I appreciate you for sharing this information with us!
can’t thank you enough for this! i recently passed my state/law exams for RE and waiting for my license to come in. realized school didn’t go in depth on how to do a proper CMA. loved the tips and your strategy for this. thanks man!
You bet! That’s what I hear all the time so it’s not just you. RE schools teach more law and contracts than the actual marketing and day-to-day activities as an agent IMO. Good luck. Did you already choose a broker to work for?
@@KyleHandy 100%! and yes im signed with a Brokerage. Unfortunately with the pandemic it’s taking a little longer to join my local Realtors Association but im extremely excited to get started. Videos like yours really help me get prepped in the meantime.
Kyle this is a such an awesome video, I really appreciate you making them. I am new to eXp and I have learned greatly from your channel. Wish I had found this channel before i joined.
Such a great presentation on preparing CMA reports! The only question that I have, is if you need to adjust the bedroom, bathroom, garage, square footage, acreage, stories, etc. counts to find more comparable properties, what do you +/- those features at to adjust your subject? What is the average value of each of them?
That depends on your area and the market. Your best best is to have a conversation with an appraiser in your area and get their take on that. But honestly, your better off trying to find the most similar properties in the area (easy to do with cookie-cutter neighborhood properties) harder to do with custom homes in rural areas. Good luck!
Very helpful! Thank you! Can you just explain the last high end property...how did you estimate the extra 800 SF of living space? Did you base that on what an 800 SF home would sell in that same neighborhood?
Hey Sharice, thank you so much for watching the video all the way through! I published this video a few years back and can't remember that property specifically. Can you ask your question more generically and I'll be happy to answer back and help!
Can you do a video on navigating RPR? I just started using it but mine looks a bit different, I'm not sure if it's because things have been updated since this video was posted (2 years ago)...
Certainly, a comparative market analysis (CMA) is a crucial aspect of the real estate industry. A CMA involves evaluating and comparing similar properties in the market to determine the fair market value of a specific property. It's an essential tool for both real estate professionals and buyers/sellers. If you have any questions or specific aspects of CMA you'd like to discuss or learn more about, please feel free to ask, and I'd be happy to provide further information or assistance.
Awesome video. Could you tell me how I’d do a CMA with multi-family (2-4) with limited comparisons in a area? Would I compare them further out, possibly the nearest city or just compare them to the near by single family’s? Thanks so much.
Further out. But investment CMA’s are very different from residential. With investments you’ll likely want to factor in the financials and how much a property earns or what it could earn.
Quick question Kyle. So if you are doing a CMA and their sq footage says sq footage is 2000 for example and then also if it says unfinished basement 1000, do you include 2000+1000 to get the square footage or is the 1000 included in that 2000 sq foot. I'm trying to figure it out so I can also do that 10% + or - range for the sq footage
Typically unfinished is not considered living square footage. For you to advertise square footage it needs to be livable with HVAC. Otherwise, list the livable footage and comment the unfinished area.
Hi there! I'm glad you found the video informative. When it comes to creating a Comparative Market Analysis (CMA) for a property that has never been listed, you can still gather valuable data from the MLS (Multiple Listing Service).
Sorry about that! I don't have control of the volume for the ads RUclips puts on. This is an older video so perhaps this doesn't happen on my newer ones as I've not heard this feedback before.
Yes, you can certainly perform a Comparative Market Analysis (CMA) without using the Realtors Property Resource (RPR). RPR is just one tool among many that real estate professionals use to gather data and information for CMAs.
Want to learn more about how to do a CMA & Tons of other exciting topics? Go pick up my NEW course, Agent Flight Academy: www.agentflightacademy.com/
Kyle, its been 3 years since this was posted. Would you change anything if you made this video today? I appreciate you for sharing this information with us!
Hands down the most valuable content on how to do an accurate CMA!! Learned a lot from this video. Well done Kyle!! Thank you!
Awesome Rochelle! Glad you found value in it.
Thanks for doing this video
You betcha!
can’t thank you enough for this! i recently passed my state/law exams for RE and waiting for my license to come in. realized school didn’t go in depth on how to do a proper CMA. loved the tips and your strategy for this. thanks man!
You bet! That’s what I hear all the time so it’s not just you. RE schools teach more law and contracts than the actual marketing and day-to-day activities as an agent IMO. Good luck. Did you already choose a broker to work for?
@@KyleHandy 100%! and yes im signed with a Brokerage. Unfortunately with the pandemic it’s taking a little longer to join my local Realtors Association but im extremely excited to get started. Videos like yours really help me get prepped in the meantime.
Kyle this is a such an awesome video, I really appreciate you making them. I am new to eXp and I have learned greatly from your channel. Wish I had found this channel before i joined.
Thank you! Let me know if you have any other questions!
hard to hear.vloume is very low.
Thanks for the feedback, I'll keep this in mind for future videos
Such a great presentation on preparing CMA reports! The only question that I have, is if you need to adjust the bedroom, bathroom, garage, square footage, acreage, stories, etc. counts to find more comparable properties, what do you +/- those features at to adjust your subject? What is the average value of each of them?
That depends on your area and the market. Your best best is to have a conversation with an appraiser in your area and get their take on that. But honestly, your better off trying to find the most similar properties in the area (easy to do with cookie-cutter neighborhood properties) harder to do with custom homes in rural areas. Good luck!
Do you share your MLS researching and data with seller if your there agent . Do you tell them how you conclude the listing price ?
100% yes. That's the entire point of the CMA.
Very helpful! Thank you! Can you just explain the last high end property...how did you estimate the extra 800 SF of living space? Did you base that on what an 800 SF home would sell in that same neighborhood?
Hey Sharice, thank you so much for watching the video all the way through! I published this video a few years back and can't remember that property specifically. Can you ask your question more generically and I'll be happy to answer back and help!
Using your method is the kind of detailed information needed... it’s a confidence builder... taking notes... thank you!
Analyzing properties is a key skill agents need. Glad to hear you’re getting some good tips from the video.
@@KyleHandy Yes indeed
Do you rely on CRS Data's CMA pricing?
I wouldn’t say I rely on it but I definitely use it. I always verify with MLS comps as well to backup its findings.
AWESOME KYLE THANK YOU! WHATCHING THIS ON OCT 2022
🙏❤️💪
Can you do a video on navigating RPR? I just started using it but mine looks a bit different, I'm not sure if it's because things have been updated since this video was posted (2 years ago)...
Hey Ashley! This is a great suggestion. Adding this topic to my list! Thank you.
Thanks for the video. Really helpful to follow along and get some tips along the way!
You’re welcome Mark! Glad it helped out.
Awesome buddy! I live in DFW but from San Antonio :) keep it going man!
Absolutely! Thanks for watching Sal!
Great video!
Thanks Yak!
comparitive market analysis.
Certainly, a comparative market analysis (CMA) is a crucial aspect of the real estate industry. A CMA involves evaluating and comparing similar properties in the market to determine the fair market value of a specific property. It's an essential tool for both real estate professionals and buyers/sellers. If you have any questions or specific aspects of CMA you'd like to discuss or learn more about, please feel free to ask, and I'd be happy to provide further information or assistance.
You are the best teacher!
Wow, thank you Dirt Road Diva
Kyle, man you need more subs I love your content.
I'm working on it :). Thanks for the support.
nice video. liked and subscribed. keep at it! I'm an agent in Austin
Awesome Hollis! Thanks for the like and subscribe. Are you already in real estate in Austin or thinking about getting your license?
Is there a reason why you prefer the MLS for the comps instead of the 'Create CMA' feature in RPR or other similar offerings?
Not particularly. I'm just more familiar navigating my MLS and have gotten accustomed to it.
@@KyleHandy makes sense. thanks!
Great Video! You are a natural in front of the camera. I'm also in the San Antonio market.
Thanks Michelle! Awesome!! Maybe we’ll do a deal together one day :)
Thx Kyle, incredibly informative and helpful!!
Glad it was helpful!
what if the subject property is not listed
Hey Chris. That’s what this is for. You can still do all the same research whether the property is listed or not.
Awesome video. Could you tell me how I’d do a CMA with multi-family (2-4) with limited comparisons in a area? Would I compare them further out, possibly the nearest city or just compare them to the near by single family’s? Thanks so much.
Further out. But investment CMA’s are very different from residential. With investments you’ll likely want to factor in the financials and how much a property earns or what it could earn.
Quick question Kyle. So if you are doing a CMA and their sq footage says sq footage is 2000 for example and then also if it says unfinished basement 1000, do you include 2000+1000 to get the square footage or is the 1000 included in that 2000 sq foot. I'm trying to figure it out so I can also do that 10% + or - range for the sq footage
Typically unfinished is not considered living square footage. For you to advertise square footage it needs to be livable with HVAC. Otherwise, list the livable footage and comment the unfinished area.
Hi, video was informative was wondering how would you do a CMA thru mls if the subject property has never been listed? Unless I’m assuming you can’t ?
Hi there! I'm glad you found the video informative. When it comes to creating a Comparative Market Analysis (CMA) for a property that has never been listed, you can still gather valuable data from the MLS (Multiple Listing Service).
You’re the man! Subscribed!!
Thanks Freddy!
This was very helpful. Thank you!
Glad it was helpful!
Great video Kyle! Really helpful! :)
Haha. Hey Amy. I believe you're right. I've since changed my verbiage :)
Great information, this was very helpful!! Thank you!!
Glad it was helpful and thank you Jose
Great video but, the ads are 3x volume
Sorry about that! I don't have control of the volume for the ads RUclips puts on. This is an older video so perhaps this doesn't happen on my newer ones as I've not heard this feedback before.
Strange. I’ll take a look.
AWESOME VID....#1%er #ENDCREW
Awesome, thanks!
AWESOME VID.....#1%ER #ENDCREW
Thanks!
Hey anybody?? Can you do a CMA without RPR??
Yes, you can certainly perform a Comparative Market Analysis (CMA) without using the Realtors Property Resource (RPR). RPR is just one tool among many that real estate professionals use to gather data and information for CMAs.
Thank you!
You’re welcome!! Thanks for watching and commenting.