How to Run a Remine CMA - Become the Neighborhood Expert

Published on: December 6 2022 by Jaime Resendiz

How to Run a Remine CMA - Become the Neighborhood Expert

How to Run a Remine CMA - Become the Neighborhood Expert

How to Run a Remine CMA - Become the Neighborhood Expert

startTime	durationTime	text
00:00:05	00:00:10	hey it's hypothetikal real estate
00:00:08	00:00:12	advisor today we're looking at the new
00:00:10	00:00:15	feature that remind has come out with
00:00:12	00:00:19	which is the ability to produce a CMA
00:00:15	00:00:22	now before you click off don't don't
00:00:19	00:00:24	hang with me I know that there's a lot
00:00:22	00:00:28	of other ways to do a CMA and I hear you
00:00:24	00:00:30	there's a new and better way to always
00:00:28	00:00:33	do something right or at least that's
00:00:30	00:00:35	the claim you may be doing are PR you
00:00:33	00:00:37	may be doing a cloud CMA you may be
00:00:35	00:00:41	doing directly from the MLS you may be
00:00:37	00:00:43	creating those CMAs from there and the
00:00:41	00:00:44	last thing you want is another way to do
00:00:43	00:00:46	something that you already know how to
00:00:44	00:00:51	do and do it efficiently and effectively
00:00:46	00:00:53	but just with life personally I like I
00:00:51	00:00:55	have a curious mind and I certainly want
00:00:53	00:00:58	to give this a fair shot I've gone
00:00:55	00:01:00	through and I've tested it out with a
00:00:58	00:01:02	few properties already just to
00:01:00	00:01:05	understand the functionality of it and I
00:01:02	00:01:08	do like it I do think that it's quite
00:01:05	00:01:11	promising so right now what I'm doing is
00:01:08	00:01:13	the CMA the CMAs that I produce are
00:01:11	00:01:16	through our PR because I do think that's
00:01:13	00:01:18	a very good product I think it's a
00:01:16	00:01:21	phenomenal product and really good for
00:01:18	00:01:23	the value that it that it produces so
00:01:21	00:01:27	that's the way that I go about creating
00:01:23	00:01:30	the CMA you may be using cops EMA you
00:01:27	00:01:31	may be using directly from the MLS or
00:01:30	00:01:34	whatever other software that you're
00:01:31	00:01:36	using that's how you're doing it but I
00:01:34	00:01:39	do think Ramon has a lot of promise and
00:01:36	00:01:42	I wanted to share that with you today
00:01:39	00:01:45	and more of the functionality of it I
00:01:42	00:01:49	know you already have your set ways of
00:01:45	00:01:52	how to actually create a CMA and a CMA
00:01:49	00:01:54	is subjective so there are some general
00:01:52	00:01:57	rules that you would that you would
00:01:54	00:02:00	follow like what you want as close as
00:01:57	00:02:02	many properties close to the subject
00:02:00	00:02:05	property you want to be the past three
00:02:02	00:02:07	months if you can't find enough comps
00:02:05	00:02:09	within the past three months you moved
00:02:07	00:02:12	back to six months you know there's or
00:02:09	00:02:14	go progressively
00:02:12	00:02:16	four months five months six months until
00:02:14	00:02:19	you have enough information at your
00:02:16	00:02:21	fingertips to produce a CMA so I'm not
00:02:19	00:02:23	gonna go into that into that as much I
00:02:21	00:02:26	want to show you the functionality
00:02:23	00:02:29	because that is in and of itself a
00:02:26	00:02:32	entirely entirely different course or
00:02:29	00:02:36	video which would take hours and there's
00:02:32	00:02:38	CES to actually do that so that wouldn't
00:02:36	00:02:40	be the best use of our time outside of
00:02:38	00:02:43	me spending a minute just explaining
00:02:40	00:02:46	that all right so what we're gonna do
00:02:43	00:02:47	this is this is an area that I'm quite
00:02:46	00:02:49	familiar with so we're gonna go with the
00:02:47	00:02:52	corner lot because I like corner Lots
00:02:49	00:02:58	and the track it just so I don't get
00:02:52	00:03:03	lost you're gonna click through and
00:02:58	00:03:06	right now you have this little short bar
00:03:03	00:03:07	or I guess sidebar
00:03:06	00:03:09	I don't know start to know what what
00:03:07	00:03:11	this is called I suspect this is gonna
00:03:09	00:03:14	go away right now it's telling you hey
00:03:11	00:03:16	we have a new feature so use it but I
00:03:14	00:03:19	suspect that this will go away I do
00:03:16	00:03:21	think that they're gonna keep the you
00:03:19	00:03:23	know where to actually go to create the
00:03:21	00:03:25	CMA up here at least that's my guess
00:03:23	00:03:27	but when you click here you're gonna see
00:03:25	00:03:31	the cloud CMA and then you're gonna see
00:03:27	00:03:34	remind CMA but the cloud CMA it's a link
00:03:31	00:03:37	to the log in with personally I don't
00:03:34	00:03:39	know I go to my dashboard over here and
00:03:37	00:03:42	I get access through it that way
00:03:39	00:03:45	if you have your login information then
00:03:42	00:03:49	props to you go ahead and use it if you
00:03:45	00:03:52	want to go down that way but what we're
00:03:49	00:03:55	looking at today is a remind CMA okay
00:03:52	00:03:59	and see we've tracked this property for
00:03:55	00:04:01	you so had I not had I not put the the
00:03:59	00:04:07	star to track it they would have tracked
00:04:01	00:04:10	it for me anyway now this property this
00:04:07	00:04:13	this property in this area is gonna
00:04:10	00:04:15	hover between 3 and 5 3 & 5 beds so I'm
00:04:13	00:04:21	just going to tidy up a few a few
00:04:15	00:04:25	details here and this this area has at
00:04:21	00:04:29	max 4 back Bassem if I'm not mistaken
00:04:25	00:04:37	again I'm I'm going off of memory but in
00:04:29	00:04:39	this area I am familiar enough to let's
00:04:37	00:04:41	include five there may be one house here
00:04:39	00:04:44	that has four and a half
00:04:41	00:04:47	all right square footage you're built
00:04:44	00:04:49	the neighborhood that we're toking
00:04:47	00:04:53	about was built in the 90s so that's
00:04:49	00:04:54	that's pretty much it number of floors
00:04:53	00:04:59	I'm gonna leave everything
00:04:54	00:05:03	I don't leave everything the same well
00:04:59	00:05:05	actually let me just now we'll just go
00:05:03	00:05:07	ahead and leave everything the same for
00:05:05	00:05:08	the time being again I don't want to as
00:05:07	00:05:11	you can see me I'm trying to fight
00:05:08	00:05:14	drilling in and going into an entirely
00:05:11	00:05:17	different course but on this one I do
00:05:14	00:05:18	promise to be to be brief and to the
00:05:17	00:05:21	point
00:05:18	00:05:24	lot size basement garage parking
00:05:21	00:05:27	building type we can select
00:05:24	00:05:29	single-family and then you see the
00:05:27	00:05:32	status you see the active pendings and
00:05:29	00:05:37	closed you can add additional you can
00:05:32	00:05:40	add additional statuses like coming soon
00:05:37	00:05:44	active under contract I would like to
00:05:40	00:05:46	see that canceled I'm not too interested
00:05:44	00:05:49	in that expire not too interested in
00:05:46	00:05:51	that hold withdrawn will keep this will
00:05:49	00:05:53	keep these but know that that's where
00:05:51	00:05:55	you can add these statuses that you're
00:05:53	00:05:58	trying to pull for most important for us
00:05:55	00:06:01	is the closed right because those are
00:05:58	00:06:01	these strong comps that we that were
00:06:01	00:06:05	after
00:06:01	00:06:07	list price sold price not interested in
00:06:05	00:06:09	that and then the sole timeframe will
00:06:07	00:06:12	give you a default of six months so you
00:06:09	00:06:14	do want to tidy that up that's that's I
00:06:12	00:06:18	know I said I wouldn't get into an a CEO
00:06:14	00:06:24	of comps but I do know enough and want
00:06:18	00:06:27	to share that basic enough to what am i
00:06:24	00:06:29	doing okay looks like it put me up here
00:06:27	00:06:31	to share that we want to go at least
00:06:29	00:06:34	with three months I can I can give you
00:06:31	00:06:37	that much without drilling in and making
00:06:34	00:06:38	it to see II the distance we want to
00:06:37	00:06:41	keep it as close
00:06:38	00:06:45	possible especially in this area as you
00:06:41	00:06:51	have as you have several different
00:06:45	00:06:54	neighborhoods that that are quite
00:06:51	00:06:54	different from each other
00:06:57	00:07:02	alright it gave me a little error
00:07:00	00:07:04	message up there I don't know what that
00:07:02	00:07:04	was about
00:07:05	00:07:12	alright now you get your cops right and
00:07:09	00:07:16	what's super cool and what's really
00:07:12	00:07:20	making me reconsider my RP are as US as
00:07:16	00:07:24	my default CMA software is this little
00:07:20	00:07:27	feature up here is off MLS property that
00:07:24	00:07:28	matches your criteria so there's a
00:07:27	00:07:33	there's a property in here which I'm
00:07:28	00:07:39	very familiar with that was off market
00:07:33	00:07:42	and when you click on it it adds it so
00:07:39	00:07:45	it's added into the it's added into the
00:07:42	00:07:45	valuation and I just think that's
00:07:45	00:07:47	awesome
00:07:45	00:07:49	and I think that that's one of the key
00:07:47	00:07:52	features that really stands out to me
00:07:49	00:07:54	when it comes to in actual CMA so it it
00:07:52	00:07:57	goes and pulls all the information from
00:07:54	00:07:59	the CAD it being remind pulls
00:07:57	00:08:01	information from the CAD it pulls
00:07:59	00:08:05	information from home warranty companies
00:08:01	00:08:08	and god only knows and I guess the
00:08:05	00:08:10	developers only know how many how many
00:08:08	00:08:12	other places it pulls information from
00:08:10	00:08:14	but I do think that it's cool that it
00:08:12	00:08:17	goes in and picks properties that are
00:08:14	00:08:22	off market and you can include them
00:08:17	00:08:23	because then you do see you do see the
00:08:23	00:08:31	properties that have exchanged hands so
00:08:26	00:08:33	that's pretty cool alright it pulled a
00:08:31	00:08:36	rental here so I'm gonna remove that on
00:08:33	00:08:38	the left-hand side right here what
00:08:36	00:08:40	you're gonna see me do is remove you can
00:08:38	00:08:42	edit the properties that don't
00:08:40	00:08:44	necessarily match the criteria that
00:08:42	00:08:46	you're looking for for it as you clearly
00:08:44	00:08:48	saw the example here was there was a
00:08:46	00:08:51	rental that did not make sense and being
00:08:48	00:08:53	included in the CMA then the rest of
00:08:51	00:08:53	them
00:08:53	00:08:59	you have actives which for the sake of
00:08:57	00:09:01	this example we're gonna go to remove
00:08:59	00:09:03	any actives
00:09:01	00:09:06	but just again more of the functionality
00:09:03	00:09:07	you have your own rules on what you will
00:09:06	00:09:09	include what you won't include I just
00:09:07	00:09:11	want to show you more of the
00:09:09	00:09:13	functionality and up here you have all
00:09:11	00:09:16	of the filters if you see something's a
00:09:13	00:09:19	little bit off do the quick view up here
00:09:16	00:09:21	of the header see hey did I add
00:09:19	00:09:23	something that this does not make sense
00:09:21	00:09:27	did I miss something
00:09:23	00:09:29	only you know your market and it's a
00:09:27	00:09:35	good way to check it you can see you're
00:09:29	00:09:38	off often less deals pending I almost
00:09:35	00:09:38	been pending for a while actually
00:09:38	00:09:44	gonna be a check and see what's up with
00:09:40	00:09:47	that alright so you have your close your
00:09:44	00:09:51	activity of your well you can have all
00:09:47	00:09:53	of them if you need to go back and edit
00:09:51	00:09:55	any of your criteria you know here but
00:09:53	00:09:59	for our purposes we're gonna save and
00:09:55	00:10:02	continue now what's cool is Ramon has
00:09:59	00:10:04	our back if you're a part of a larger
00:10:02	00:10:07	brokerage chances are that it's on here
00:10:04	00:10:08	and you can select your own colors if
00:10:07	00:10:13	you're part of exp if you're part of
00:10:08	00:10:16	central 21 Keller Williams it'll it will
00:10:13	00:10:19	add that little touch of customization
00:10:16	00:10:21	to your brokerage now if you aren't one
00:10:19	00:10:25	of the bigger if you aren't with one of
00:10:21	00:10:30	the bigger brokerages you can do a
00:10:25	00:10:33	custom color which for me the hex code
00:10:30	00:10:39	is ninety nine zero zero zero zero
00:10:33	00:10:43	that's my red so it now I have my
00:10:39	00:10:52	personal red and then the other color
00:10:43	00:10:55	that I have is black and it's customized
00:10:52	00:11:00	to me it goes further you can upload
00:10:55	00:11:02	your company logo which I'm just gonna
00:11:00	00:11:04	include my sound wave which a lot of
00:11:02	00:11:11	people mistake for a globe
00:11:04	00:11:17	it's not and then well it's already
00:11:11	00:11:21	added mine it already kept my my profile
00:11:17	00:11:28	pic so that's where you would do it and
00:11:21	00:11:29	the name of let's put dough put bill
00:11:28	00:11:31	because I think that's actually the
00:11:29	00:11:33	owner of the name I'm sorry the owner of
00:11:31	00:11:41	the property but we'll just go ahead and
00:11:33	00:11:44	put John Doe save and continue and what
00:11:41	00:11:46	I like about the presentation of it it's
00:11:44	00:11:48	very very to-the-point yeah your
00:11:46	00:11:51	comparables overview you have a solid
00:11:48	00:11:54	range you have estimated value list of
00:11:51	00:11:57	sold difference you have days on market
00:11:54	00:12:03	you have the average the low and the
00:11:57	00:12:05	high so if you wanted to tidy that up
00:12:03	00:12:08	you of course could you would just go
00:12:05	00:12:13	back and edit it but for our purposes
00:12:08	00:12:16	that's good enough and yeah so we'll go
00:12:13	00:12:19	down to the area demographics it doesn't
00:12:16	00:12:23	expand here but when you go to print it
00:12:19	00:12:27	will actually expand so you see the
00:12:23	00:12:29	charts and what I like about this it's
00:12:27	00:12:32	not necessarily for the listing side I
00:12:29	00:12:34	like it more for the buyers side where
00:12:32	00:12:39	if you were strapped for time or just
00:12:34	00:12:43	wanted to present a cma to your buyers
00:12:39	00:12:44	then this is quite valuable this is
00:12:43	00:12:46	something that the CMA wouldn't
00:12:44	00:12:48	necessarily if you have pulled it from
00:12:46	00:12:52	the mls wouldn't necessarily help you
00:12:48	00:12:54	with you can see the the college who the
00:12:52	00:12:56	education you're gonna see high school
00:12:54	00:13:00	you can see what high school you're
00:12:56	00:13:02	gonna see the level well the level of
00:13:00	00:13:05	education the breakdown of who has
00:13:02	00:13:07	children who doesn't the average size of
00:13:05	00:13:09	household average income and average age
00:13:07	00:13:12	you're gonna see that in actual graphs
00:13:09	00:13:14	which is quite powerful when you're look
00:13:12	00:13:16	when you're toking with the buyer that
00:13:14	00:13:16	are are trying to build their you know
00:13:16	00:13:19	they're
00:13:16	00:13:21	trying to search a home for a home in
00:13:19	00:13:24	their ideal community you have the
00:13:21	00:13:28	average value is a valuation estimate
00:13:24	00:13:30	you have the first American appraisal
00:13:28	00:13:33	and then appraisal then you have Zillow
00:13:30	00:13:37	and then the comparable properties that
00:13:33	00:13:41	you included so it's pretty cool at the
00:13:37	00:13:45	end of it it should be about about four
00:13:41	00:13:49	or five pages print the images yes I do
00:13:45	00:13:54	include valuations yes file it we're
00:13:49	00:13:54	gonna put yeah should be fine
00:14:02	00:14:14	and wait a few seconds then when we pull
00:14:09	00:14:18	it up about five pages you see the cover
00:14:14	00:14:21	page prepare to buy prepared for date
00:14:18	00:14:25	that you prepared it you address all
00:14:21	00:14:26	this information which I think you can
00:14:25	00:14:29	include some additional information
00:14:26	00:14:33	don't hold me to that but this is what
00:14:29	00:14:37	the end looks like now something I did
00:14:33	00:14:41	notike is this whole HB I am assuming it
00:14:37	00:14:43	to have bath I I'm assuming that that's
00:14:41	00:14:45	what that is so I don't necessarily know
00:14:43	00:14:47	why this isn't over there that's the one
00:14:45	00:14:50	thing that I I would like clarification
00:14:47	00:14:53	on and I will seek it but so the purpose
00:14:50	00:14:55	of our video I don't have that
00:14:53	00:14:56	information at this time so sorry about
00:14:55	00:14:58	that you see the graphs that I was
00:14:56	00:15:01	mentioning earlier you have the
00:14:58	00:15:03	breakdown you have who has children and
00:15:01	00:15:06	then the average household now this was
00:15:03	00:15:09	another discrepancy that I was curious
00:15:06	00:15:11	about when it comes to one person versus
00:15:09	00:15:13	two person so I don't remember if well
00:15:11	00:15:17	we can click over here since you recall
00:15:13	00:15:19	we saw two people here versus one people
00:15:17	00:15:21	here again I will need clarification on
00:15:19	00:15:25	that firstly I don't have it at this
00:15:21	00:15:28	time but Lizzie with anything else this
00:15:25	00:15:32	capability dropped today I'm not today
00:15:28	00:15:33	this week so there may be some kinks
00:15:32	00:15:35	that aren't getting hammered out but as
00:15:33	00:15:38	far as what it presents to people I
00:15:35	00:15:41	absolutely love it
00:15:38	00:15:44	I shouldn't say luck that's um it's
00:15:41	00:15:46	overused I like it a lot I like it a lot
00:15:44	00:15:48	like the way that it presents I like the
00:15:46	00:15:51	customization and I like just
00:15:48	00:15:54	clarity it's something that I would I
00:15:51	00:15:58	would if I was a consumer I would look
00:15:54	00:16:01	at this the cloud CMA I know that I use
00:15:58	00:16:03	it and I teach out a bit quite a bit for
00:16:01	00:16:06	a quick you know a quick hit when it
00:16:03	00:16:09	comes to it a landing page built for
00:16:06	00:16:12	getting people's valuation in order or
00:16:09	00:16:15	just you can drive traffic to it and get
00:16:12	00:16:15	a quick lead off of it but at the end of
00:16:15	00:16:20	the day
00:16:15	00:16:23	a cloud CMA will send 25 pages worth so
00:16:20	00:16:24	a lead will receive that information but
00:16:23	00:16:27	they will necessarily know how to
00:16:24	00:16:29	interpret it maybe you don't want them
00:16:27	00:16:30	to know how to interpret it because you
00:16:29	00:16:33	ideally want them to reach out to your
00:16:30	00:16:35	you reach out to them but at the end of
00:16:33	00:16:37	the day 25 pages of information is a bit
00:16:35	00:16:39	overwhelming and I don't want people to
00:16:37	00:16:42	be off but so that's one of the reasons
00:16:39	00:16:44	that I don't you know I don't
00:16:42	00:16:48	necessarily go with clouds TMA too much
00:16:44	00:16:52	when it actually comes down to a CMA I
00:16:48	00:16:55	like the feature that it has a it being
00:16:52	00:16:59	a lead generation the landing page that
00:16:55	00:17:03	produces leads but as far as the output
00:16:59	00:17:05	I'm not the biggest fan I do like this
00:17:03	00:17:07	because it's not overwhelming it the way
00:17:05	00:17:11	that it's presented is very intuitive
00:17:07	00:17:18	and it provides good information that is
00:17:11	00:17:20	interpretable by by agents by customers
00:17:18	00:17:22	clients potential people that are
00:17:20	00:17:25	willing to sell or buy so I do like that
00:17:22	00:17:28	functionality again you may not like
00:17:25	00:17:29	that fact that you know people will take
00:17:28	00:17:33	this information and then go off and use
00:17:29	00:17:35	it for their own purposes but the NSA
00:17:33	00:17:37	you are providing a service anyway I'll
00:17:35	00:17:41	get off my soapbox and the rest of it is
00:17:37	00:17:45	the summary details summary details the
00:17:41	00:17:48	often molest properties so I do like it
00:17:45	00:17:50	as far as am I gonna use this down the
00:17:48	00:17:54	road I do believe I will be using this
00:17:50	00:17:56	down the road just right now our PR has
00:17:54	00:17:59	a very strong product and I like it I
00:17:56	00:18:02	like it a lot actually so I do think
00:17:59	00:18:05	that remind is enough that brings enough
00:18:02	00:18:08	value that I do want to explore it a bit
00:18:05	00:18:10	further and introduce it into my systems
00:18:08	00:18:15	when it comes to the CMA again there are
00:18:10	00:18:17	10,000 ways to create a CMA it's just
00:18:15	00:18:21	which heroine whichever one works best
00:18:17	00:18:23	for you to be able to produce it and the
00:18:21	00:18:25	level beyond that is whichever one's
00:18:23	00:18:28	gonna provide the most service to your
00:18:25	00:18:29	client so there's that fine balance yes
00:18:28	00:18:30	you do want to be Ben
00:18:29	00:18:33	official to you because at the end of
00:18:30	00:18:35	the day you are producing it but you
00:18:33	00:18:37	also want it to be a value and as
00:18:35	00:18:40	accurate as possible for your client to
00:18:37	00:18:42	benefit so overall I do like green mine
00:18:40	00:18:44	as you can tell by the channel there's a
00:18:42	00:18:47	lot of videos about Ramon because I'm
00:18:44	00:18:49	sold on the product but when it comes to
00:18:47	00:18:51	its ability to produce to see amazed I
00:18:49	00:18:53	think that they've done a really good
00:18:51	00:18:55	job with it
00:18:53	00:18:56	there may be a look a few things here
00:18:55	00:18:58	there that need to be tweaked but it
00:18:56	00:19:00	could have been the way that it wasn't
00:18:58	00:19:05	these properties were input into the
00:19:00	00:19:09	systems that into the MLS that the CMA
00:19:05	00:19:11	for that Rema remind produced just just
00:19:09	00:19:14	when they would read it or some there's
00:19:11	00:19:16	some discrepancy discrepancies that that
00:19:14	00:19:18	happens but at the end of day I'm super
00:19:16	00:19:20	sold on it there's any questions as
00:19:18	00:19:24	always please feel free to reach out
00:19:20	00:19:25	like comment subscribe share anything
00:19:24	00:19:27	and everything thanks so much for
00:19:25	00:19:29	watching and I'll see you in the next
00:19:27	00:19:29	video
00:19:32	00:19:34	you
00:19:44	00:19:47	you