The comparative market analysis (CMA) is an evaluation of homes that are similar in size, bedrooms, baths, and features, and is in proximity to the listing or property. Real estate professionals use CMAs to provide clients with an estimated market value of their home. It's an excellent way to show your expertise and the value that you provide as a real estate professional.
The Boldleads system recommends agents send a CMA within 72 hours of the Seller Lead filling out a form on a Seller Landing Page.
Why is it so important to send out the CMA?
The CMA is mentioned in the emails of the Home Valuation Follow-up Funnel.
How Many Emails are in the Seller Lead Funnel?
There are three emails in the Home Valuation Follow-up Funnel that are automatically sent from the Boldleads system. Due to the content of the emails, you will need to send the lead their CMA between Email 2 and Email 3.
- Funnel Email 1: Sent five minutes after the lead is captured. This email acknowledges receipt of Custom Market Analysis (CMA) request.
- Funnel Email 2: The second email in the funnel is titled "Quick Question" and asks the lead if there have been any updates made to the home. This email is sent approximately two hours after the lead is generated.
- Custom CMA: You send leads a CMA sometime between the 2nd and 3rd Funnel email.
- Funnel Email 3: The third email is titled "What did you think?" and will ask the lead what they thought of the CMA they received. This email is sent out three days after the lead is generated.
Which CMA Tool Should I Use?
Great question! There are many CMA tools on the market today. Here are some top CMA tools that our agents use:
- Automated CMA: Typically, this is provided by your brokerage. A great example is Realtors Property Resource.
- Template CMA: This is a quick template email that you can use to fill out a range of values for the property. A sample template is below for your use: Value Email.txt
- CMA Software: You can also integrate your Boldleads account with a service like CloudCMA or Top Producer's Market Snapshot to automatically send CMAs.