EXACTLY How to do a Comparative Market Analysis (Even if you're a NEW Real Estate Agent)
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- Опубліковано 8 кві 2021
- In this video, I’ll show you exactly how to do a comparative market analysis (CMA) step by step. Subscribe for more real estate training and coaching videos: bit.ly/3aFRiCt
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▶ ABOUT BRANDON MULRENIN
Brandon is a real estate broker in Michigan and is the CEO of Brookstone Realtors. Real estate coaching is Brandon’s passion. He teaches real estate agents at his company and around the country how to get listings using his reverse selling lead generation system. His mission is to teach real estate agents how to sell without being salesy, he calls it reverse selling.
In this video, you’ll learn how to use the MLS to price property and do a real estate cma. I’ll teach you every step in the process how to property price property and do a full cma real estate report.
Here’s a breakdown of each step in the process: The first thing you want to do when doing a real estate comparative marketing analysis is researching the property public record. In this step you’ll gather all the property details.
The next step is to search for the properties prior listing history. In this step, you want to look for as many pictures of the property as possible. This will give you information about the property’s condition and updates.
The next step when doing a comparative market analysis is drawing a map around the subject property. You want to ensure you don't draw the map over any major roads. This may result in you getting properties that may not be comparable to the subject property.
Once you’ve got your map area, you’ll then select active, pending and sold listings for the past 6 months. This is when you’ll start to do your custom cma research to select your 3-5 comparable.
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Watch this video next where you can see me deliver a live CMA and listing presentation: ua-cam.com/video/HFuw3jYLJrE/v-deo.html
Brandon, you're a saint!
That Active Listing Sold for $383K! That 2021 Market was amazing Brandon 😊
I just got my license a couple weeks ago. This field is very intimidating to start, so I'm extremely thankful that you're sharing your experience/knowledge with a newbie like me :)
You'll be fine! Keep Learning & Failing forward. Best of Luck :D
How’s everything going?
@@wildcaughtrob thanks for asking! I'm in the Cleveland, Ohio market. I made my first sale on August 29th, 2022. Since then, I think I've made a little over $5 million in sales. I've learned soooo much in my first year, and a lot of it has been through watching Brandon's videos. Thank you!
@@jfrayproductions Love to here it. Keep pushing and growing :)
This is a fantastic explanation of a manual CMA. Any agent would feel so much more confident armed with this information instead of just running automated valuations. This is a value add for our clients as well. Thank you for sharing.
You're very welcome!
This video is sooooo useful Brandon! I’m nervous as heck to talk to them today! Ty for showing me this !!
You have taught me so much more in your videos than any of my training and managing brokers teach me in their training sessions. Thank you so much for these videos. I feel like I have way more tools to rock real estate just by watching your videos than I'd ever have with my managers.
Best CMA video out there! Thanks
Thank you, Brandon. You are awesome at breaking things down into digestible nuggets that I can actually act on. Cheers!
Very helpful video, thanks Brandon!
Thank you very much for this tutorial. As a newer agent, this is very helpful.
Thank you for sharing this CMA approach. Informative. Also learned about the Net Sheet inside the MLS. Cool.
Brandon, great video! Thank you.
Brandon, thank you. Do you have a video for deciding offering price for buyers in this market or use the same tools as in this video? Thanks again
This video is very helpful. Thanks for your help sir.
great video ! Very helpful for a new person a
such as myself.
Hi Brandon. You are an amazing teacher! I am not part of any association so I can't get an access to RPR. What other ways can I get the CMA'S besides my local MLS? Thank you
Thank you so much for making this video!
Really great walkthrough.
Seriously you are the best with instruction and knowledge. Have learned so much more from you than anyone else, in person and online.
I appreciate that and glad you’re getting value from the channel
Thank you for sharing!! This is great.
Great video! ive learned a ton. I would love to see a video on what to do if there are no comparable cmas in the area from you ! Im experiencing that currently with a prospect, and feeling lost
Thank you again for your knowledge, and sharing with us.
Dude!!!Way freakin great explanation I need something cut a dry like this to really grasp how I can improve my processes. I unfortunate do not have access to MLS because I a buy-hold guy and still pretty green at it. We have 5 homes but still learning and always trying to step my game up. Anyways good vid and I just subd! Keep up the solid work brother
Great info Brandon, Thanks for all you do for us. Things other agents will not tell.
👊👊
This video is absolutely perfect. I've always just used the cloud CMA from realcomp but this approach is 10 times better in my opinion. Thanks Brandon.
I use the price per SqFt to get my price range. Also, I'm thinking that the high price might have been the seller's price and not the Listing Agent. I love your channel!
Very valuable information
Man thank you so much I am a new realtor and all I can say is a big thank you, your the goat lol
This is INCREDIBLE CONTENT
I just started down in San Diego and you have been so helpful. I just want to say thank you.
👊👊
Great video. Thanks!
What about doing adjustments Brandon? Thanks for doing this!
Amazing content thank you God Bless awesome 😊
AMAZING thank you So much!!!!!!!!!
Great video and overview of your process!
How do you feel about where the appraisal may come in at?
Been wanting a good cma training, thanks for your work
Absolutely! Let me know if this helped after you watch it.
Love your work Brandon. A true expert and Icon!
🙏
Brandon thank you so much for these videos I just
👊👊
Brandon, I have had my Real Estate license since 2005 and I am with my 4th broker..long sad story. Anyway, this time I went with a very small Broker..no office fees and commission split much higher than I ever had. I was so worried, let me correct this, I am so worried that I won’t have the training that I’ve had with other brokers. I said I’m going to UA-cam to see what I can learn. I have learned more watching your videos than I have EVER learned at ANY of my broker’s training. I live in Southfield, Michigan and as soon as I can afford your coaching, I am going to reach out to you. Thank you for these videos, thank you for educating us on all things Real Estate!!!! I just want to be successful this time.
Thank you Brandon
Thank you Brandon!!
This is amazing, Brandon. Thanks for sharing. Question: given that active listings can go under contract for way less than the actual list price, wouldn’t it be safer to not consider them when determining the subject property’s price range? If that active listing wasn’t there would it be safe to say $275-$325k is a better price range. Would love to get your feedback 😊!
tyvm you are amazing!
I am a realtor in South Africa, Really interesting to see how you guys work. Thanks for the video! 🇿🇦
That’s awesome!!! How’s the market in South Africa?
Great content as usual
👊🙏
great info
Why did that active property bring your range up, Is it because your property is more updated? and how do you know that the agent priced it right for you to bring the range up?
you are god tier man
So much better then the cma trainings on realcomp, thanks! Really been needing this, with the home pending now at 379,900 do you close your range for closer to the higher comp? And thanks for the net sheet, my broker has told me not to do it.
My friend is a realtor and I automatically went to her first, thinking how great it would be to hire her. Huge mistake! It took her a month to come over and comp my house and she did none of this. Her CMA was price per square foot only. We are now interviewing new agents and t's going much better, but no one has been as thorough as you. Wish I could find someone as good.
But why would a tri level bring the floor up for your ranch?? It’s not the same style.. thanks for you content!
Hey Brandon, I go to the map as you did and put the address in and there are no homes nearby? it says results 0. So I'm not sure how I'm supposed to be make a comp out of 0 nearby homes? And I know there are homes in this region I made. help?
Hi Brandon! Important questions... Why would we not use a mile radius? I live in Chicago and was told that an appraiser uses the 1 mile radius for comps. I do agree with what you stated in drawing in the area, but is that different maybe in Michigan? I currently have a listing in a lower desired school district, but like in your example it is very close to the dividing street between the more desired school vs the less desired schools. This has been helpful for increasing our value. Am I totally going down the wrong path with this?
One more thing... You ROCK! Thank you for your knowledge and passion to share it. You can easily see how authentic you are. Thank you my brother!!
Glad you’re getting value! You can do a Radios but make sure you don’t get comps from another neighborhood we’re homes or not comparable
Florida pays taxes in the arrears so it would be the other way around seller pays buyer the prorated portion that’s been prior to closing right?
Realtor in my area need to watch this video, I live in a custom home horse property area and realtors just use the inaccurate Zillow which can be up to two hundred thousand dollars undervalued even though the recent a comp show otherwise.
Awesome video Brandon. I will be licensed here in Georgia in a month. My question is subdivisions are fairly easy I suppose but how would you do a house out in the country because various styles and no real comparables within a mile or several miles?
Sometimes it does make sense to get a pre-listing appraisal.
Do you take acreage into consideration?
The homes where I live range so ridiculously much. We have oodles of trailer parks, fancy homes, and average homes; within those are fancy and average homes that are either sound or have weather damage. It’s hard to try to comprehend how to do comps here when homes differ so much.
The first house I bought. The seller didn't get a seller net sheet until actual closing.
Hi everyone! I’m a little bit stuck in the first part of the video. The tool I use for tax integration is CRS but in the crs system I’m having trouble looking for the SEV for a home. Is anyone familiar with CRS?
Does every state do it the same?
Hey Brandon, I know this is a previous video however I have a really important question. I am an agent in Miami and I went on a listing appointment with a homeowner who has been living there since the 80s. No previous mls photos, the house is the only house that is outdated aside from one comp on the same street. The other houses on the street are all modern and $3 million plus. Her house however is a waterfront like the other ones on the street and right next to a property selling for $20 million. Most people in the neighborhood told me they are buying the old houses and building new ones on the lot. Do I focus on land value or the way the houses look on the inside? There is one comp that is almost identical that sold for $2.85M and DOM was 5 days. The square footage is a bit smaller, the house was built 10 years before and they have 75 feet of waterfront opposed to mine have 124 feet. I'm confused on how I should calculate the comps since the only comp is an old house with similar lot size, but a few features that are less than the prospects. I don't expect you to see this, but it was worth writing down anyways, thanks. -Mateo from Miami
what did you end up doing?
Ahh the UA-cam comments. You knock and no one is home.
lowest for the house i am to close on according to platforms are 113.000 and the highest is 142,000 I offered 157,000 of the 159,0000 about 2 months ago... I not confident i go throug with it as the market values ( they are doing off market as off market he took it offbecasue it been 6 months since he placed on the market) I amnot sure if the off market is correct even at 20 peercent error goign to hire price it still over priced by 15,000 and that going to the plus to price what if it si 20 percent lower... so I am goign to the closing not sure
Brandon, what do we do if we can not find any comps in a very rural area?
pre listing appraisal
@@BrandonMulrenin Thank you! You and Carruth are the best.
Why does a slab bring the price down? I would think it’s the opposite…
10:58 good to see you enjoy roblox
You're like the real life Harvey Specter of Real Estate.
😂👏
The tri level sold for 383k
How long does a typical CMA take you to do.
about 30 min
No way, I'm an agent in Grand Blanc MI! Not far from you at all. Hola neighbor
Nice to meet you! What company are you with??
@@BrandonMulrenin I am with Keller Williams First right in downtown. Signed on in January.
You did not do adjustments on CMA.
Mans downloaded Roblox tho
Chat gpt
the music would be great if this was for entertainment purposes not really feeling good on the educational side things. Definitely would prefer t o just listen and think about what your saying without having to mentally filter the music out as i pay attention
why wouldn't your bottom line be 295000? instead of 300000
brandon plays roblox??
Daughter 😂
Roblox
Bro are you listening to vaporwave in the background?! @brandonmulrenin
the roblox.dmg lol