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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

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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