How to Run a Full CMA in FlexMLS

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Ruth Barnett
5 years ago
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Be advised that a CMA determines where the market is going, and does not determine a property s appraisal value.

1 How to Run a Full CMA in FlexMLS Real estate agents and sellers use a CMA to determine a property s list price. A comparative market analysis includes properties that feature similar square footage, similar age of construction, similar amenities, and are located within a specified area. Be advised that a CMA determines where the market is going, and does not determine a property s appraisal value. To begin the CMA, run the search for your comparable properties; to do so, go to Search > Quick Search. Then, select which property search to use when searching for the comparable properties. Once the property search is selected, enter in which fields the properties should feature. Once the search is performed, selections can be made from the results as far as what to use for your CMA.

If selections are made, click on Selected.

Then, click on CMA on the upper right corner of the FlexMLS screen.

selection as far as to Use All Results, or Use Selected.

2 If selections are made, click on Selected. They will then display in the same order in which they were selected. Then, click on CMA on the upper right corner of the FlexMLS screen. Depending on which listings are going to be included, make the selection as far as to Use All Results, or Use Selected. **There is also an option to display the results in a One-Line CMA which would display no photos and is shown below:

3 Next, select which type of CMA you would like to perform. Full CMA Quick CMA Statistical CMA Useful for sellers and includes the following: Cover Page Subject Property Information Comparable Properties Value Adjustments Summary List Price Recommendation Useful when comparing a set of listings without a subject property. Includes the following: Side-by-side comparison Summary Useful for buys and provides a table of information broken down by listing status or another field of choice Once the desired CMA is selected, choose the Statistical Average Field: Click Next

Full CMA Guide Step 1: Cover Page This will be the first thing the property owner will see. Their name can be entered in the For field, as well as any comments.

4 Full CMA Guide Step 1: Cover Page This will be the first thing the property owner will see. Their name can be entered in the For field, as well as any comments. The branding/contact information can also be selected here by selecting the drop-down next to the By field. Once the cover page is filled out, click Next on the bottom right side.

Step 2: Subject Property Information This is required when using the Full CMA feature. This is where information pertaining to the subject property is added.

5 Step 2: Subject Property Information This is required when using the Full CMA feature. This is where information pertaining to the subject property is added. If the listing has never been listed in the MLS (perhaps the owners bought directly from the builder for example), the address, city, state, and zip code will be required in order to plot the subject property in accordance to the selected comps. If the subject property has been, or is currently listed in the MLS, the fields can be auto-populated by clicking on the Auto-Populate Fields from Existing Listing and entering the listing number. Next, fill out the fields beneath the Subject Property Additional Information section. The fields can be added by clicking New Item on the bottom of the screen; fields can also be changed by selecting the magnifying glass (for example, if this CMA is for a Single Family property, perhaps Style is more appropriate than Model). Fields can also be deleted by clicking on the red X underneath the Action column. *If fields have been added/changed/deleted, and the Auto-Populate fields from existing listing option was used, click Auto-Populate once more and select Submit in order for the new, updated fields to be filled out appropriately IF they were entered on the original listing. If the new fields are something that may be helpful each and everytime a CMA is run, click on Save/Replace Template on the bottom of the screen. A name will need to be entered for the template and the option to make it a default will also be given.

6 Once the fields are filled out, click Next Step on the bottom right corner.

Step 3: Comps This page will display the comps that were originally searched for and selected (if applied) The order can be changed by selecting the double-ended arrows on the

7 Step 3: Comps This page will display the comps that were originally searched for and selected (if applied) The order can be changed by selecting the double-ended arrows on the far right side. Comps can also be removed from the list by selecting the red X on the far right side of the corresponding listing. Once satisfied with the order, click Next Step.

Step 4: Adjustments Adjustment values are not provided within FlexMLS. Adjustment values can be added either manually or automatically by selecting Edit Adjustments on the bottom of the screen.

8 Step 4: Adjustments Adjustment values are not provided within FlexMLS. Adjustment values can be added either manually or automatically by selecting Edit Adjustments on the bottom of the screen. Notes or comments can also be added in regards to the comparable properties on the bottom of the adjustments. The comments will correspond with the property in the drop-down selected in Adjustments for Comparable Be advised that adjustments are not required in the Full CMA, but are optional. Once complete, select Next.

9 Step 5: Summary The information on this page is read-only and will be included with the Full CMA once complete. Click Next.

10 Step 6: Recommendation This page will display the listing price recommendation one of two ways. The recommended price will stay the same, but here is the difference: Calculate High/Low price using High/Low price from comparable properties: This will display the Low as the lowest comparable that was included as well as the highest. Calculate High/Low price using a percentage above/below the recommended price: This will display the Low as the lowest recommended list price based on x% below the recommended and the high as x% above the recommended. This way may be preferred if the comparable properties range significantly. Once the method has been chosen, click Recalculate, then, click Next.

Step 8: Finish Anything marked with a checkmark will be included in the completed CMA. The color scheme can also be changed to meet the agency s marketing colors.

11 Step 8: Finish Anything marked with a checkmark will be included in the completed CMA. The color scheme can also be changed to meet the agency s marketing colors. Along with changing the colors, the listing detail report can also be changed from Tessera detail (a popular flyer used in the system to market a property for sale) to something more informative, like the MO Full or MO Full with Agent Contact. The CMA can then be Saved, ed, Viewed, or Printed simply by clicking on one of the selections on the bottom of the screen. Be advised that the system will save the last 5 CMAs that are not saved manually. With that being said, please be sure to always save a Full CMA once complete in order to avoid losing the materials.

MLSSAZ: Comparative Market Analysis (CMA) in Flexmls

MLSSAZ: Comparative Market Analysis (CMA) in Flexmls Using the search feature, create specific criteria for comparison of properties Use the closed sale option to determine actual properties in a specific