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Create Quick Simple Accurate CMA [RPR]

Published on: December 6 2022 by Jaime Resendiz

When it comes to buying or selling a property, one of the most important things to have is a Comparative Market Analysis (CMA) or a Residential Property Report (RPR). These reports provide valuable information about the property, its surrounding area, and the current market conditions. However, creating a CMA or RPR can be time-consuming and complex. In this article, we will discuss how to create a quick, simple, and accurate CMA or RPR.

1. Gather necessary information:

Before creating a CMA or RPR, you need to gather all the necessary information about the property, such as its address, square footage, number of bedrooms and bathrooms, and any recent upgrades or renovations. You also need to collect data on the surrounding area, such as the average sale price of homes in the neighborhood, local amenities, and the crime rate.

2. Use reliable sources:

To ensure the accuracy of your CMA or RPR, you need to use reliable sources of information. This can include real estate websites, MLS listings, county records, and local newspapers. Make sure to double-check your information and verify its accuracy.

3. Compare similar properties:

When creating a CMA or RPR, it's important to compare the property to similar properties in the area. This can include homes that are of similar size, age, and condition. By comparing similar properties, you can get a better understanding of the market conditions and the value of the property.

4. Use a CMA or RPR tool:

There are many online tools and software programs that can help you create a CMA or RPR quickly and easily. These tools can provide you with all the necessary data and information, as well as generate a report that you can customize and share with your clients.

Creating a CMA or RPR doesn't have to be a daunting task. By gathering the necessary information, using reliable sources, comparing similar properties, and using a CMA or RPR tool, you can create a quick, simple, and accurate report that will help you make informed decisions when buying or selling a property.

Create Quick Simple Accurate CMA [RPR]

Welcome back to the channel that brings actionable content to help your business grow! Today we are looking at running a comparable market analysis (CMA) through RPR. Running a CMA is essential when analyzing a property for a buyer or seller, as it provides an understanding of the property's value and helps approach negotiations. While there are various ways to run CMAs, we'll focus on using RPR as it offers a robust software with plenty of options.

Steps to run a CMA through RPR:

1. Confirm the facts - enter the property address and confirm the details available on public record or previous listings.

2. Select criteria - choose filters for the search such as proximity, property details, and time period.

3. Find comps - search for recently sold properties within the selected criteria and choose relevant ones to compare.

4. Adjust comps - use the Adjustments screen to compare and adjust the comps based on features, condition, and other factors.

5. Weigh the comps - give weights to each comp to determine their influence on the final CMA.

Using RPR for running a CMA offers a lot of flexibility in adjusting and comparing comps. While subjective, it is an essential tool for any real estate advisor.

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