EXACTLY How to do a Comparative Market Analysis (Even if you’re a NEW Real Estate Agent)
In this video, I’ll show you exactly how to do a comparative market analysis (CMA) step by step. Subscribe for more real estate training and coaching videos:
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▶ ABOUT BRANDON MULRENIN
Brandon is a real estate broker in Michigan and is the CEO of Brookstone Realtors. Real estate coaching is Brandon’s passion. He teaches real estate agents at his company and around the country how to get listings using his reverse selling lead generation system. His mission is to teach real estate agents how to sell without being salesy, he calls it reverse selling.
In this video, you’ll learn how to use the MLS to price property and do a real estate cma. I’ll teach you every step in the process how to property price property and do a full cma real estate report.
Here’s a breakdown of each step in the process: The first thing you want to do when doing a real estate comparative marketing analysis is researching the property public record. In this step you’ll gather all the property details.
The next step is to search for the properties prior listing history. In this step, you want to look for as many pictures of the property as possible. This will give you information about the property’s condition and updates.
The next step when doing a comparative market analysis is drawing a map around the subject property. You want to ensure you don't draw the map over any major roads. This may result in you getting properties that may not be comparable to the subject property.
Once you’ve got your map area, you’ll then select active, pending and sold listings for the past 6 months. This is when you’ll start to do your custom cma research to select your 3-5 comparable.
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Watch this video next where you can see me deliver a live CMA and listing presentation: https://youtu.be/HFuw3jYLJrE
Brandon, you’re a saint!
That Active Listing Sold for $383K! That 2021 Market was amazing Brandon 😊
I just got my license a couple weeks ago. This field is very intimidating to start, so I’m extremely thankful that you’re sharing your experience/knowledge with a newbie like me 🙂
You’ll be fine! Keep Learning & Failing forward. Best of Luck 😀
How’s everything going?
@Rob Ashton thanks for asking! I’m in the Cleveland, Ohio market. I made my first sale on August 29th, 2022. Since then, I think I’ve made a little over $5 million in sales. I’ve learned soooo much in my first year, and a lot of it has been through watching Brandon’s videos. Thank you!
@Jessica Novosel Love to here it. Keep pushing and growing 🙂
I use the price per SqFt to get my price range. Also, I’m thinking that the high price might have been the seller’s price and not the Listing Agent. I love your channel!
Hi Brandon! Important questions… Why would we not use a mile radius? I live in Chicago and was told that an appraiser uses the 1 mile radius for comps. I do agree with what you stated in drawing in the area, but is that different maybe in Michigan? I currently have a listing in a lower desired school district, but like in your example it is very close to the dividing street between the more desired school vs the less desired schools. This has been helpful for increasing our value. Am I totally going down the wrong path with this?
One more thing… You ROCK! Thank you for your knowledge and passion to share it. You can easily see how authentic you are. Thank you my brother!!
Glad you’re getting value! You can do a Radios but make sure you don’t get comps from another neighborhood we’re homes or not comparable
This video is absolutely perfect. I’ve always just used the cloud CMA from realcomp but this approach is 10 times better in my opinion. Thanks Brandon.
Brandon, thank you. Do you have a video for deciding offering price for buyers in this market or use the same tools as in this video? Thanks again
Really great walkthrough.
Seriously you are the best with instruction and knowledge. Have learned so much more from you than anyone else, in person and online.
I appreciate that and glad you’re getting value from the channel
Thank you, Brandon. You are awesome at breaking things down into digestible nuggets that I can actually act on. Cheers!
Love your work Brandon. A true expert and Icon!
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Great info Brandon, Thanks for all you do for us. Things other agents will not tell.
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This is a fantastic explanation of a manual CMA. Any agent would feel so much more confident armed with this information instead of just running automated valuations. This is a value add for our clients as well. Thank you for sharing.
You’re very welcome!
Hi Brandon. You are an amazing teacher! I am not part of any association so I can’t get an access to RPR. What other ways can I get the CMA’S besides my local MLS? Thank you
Dude!!!Way freakin great explanation I need something cut a dry like this to really grasp how I can improve my processes. I unfortunate do not have access to MLS because I a buy-hold guy and still pretty green at it. We have 5 homes but still learning and always trying to step my game up. Anyways good vid and I just subd! Keep up the solid work brother
You have taught me so much more in your videos than any of my training and managing brokers teach me in their training sessions. Thank you so much for these videos. I feel like I have way more tools to rock real estate just by watching your videos than I’d ever have with my managers.
This is amazing, Brandon. Thanks for sharing. Question: given that active listings can go under contract for way less than the actual list price, wouldn’t it be safer to not consider them when determining the subject property’s price range? If that active listing wasn’t there would it be safe to say $275-$325k is a better price range. Would love to get your feedback 😊!
Awesome video Brandon. I will be licensed here in Georgia in a month. My question is subdivisions are fairly easy I suppose but how would you do a house out in the country because various styles and no real comparables within a mile or several miles?
Sometimes it does make sense to get a pre-listing appraisal.
Great video! ive learned a ton. I would love to see a video on what to do if there are no comparable cmas in the area from you ! Im experiencing that currently with a prospect, and feeling lost
Brandon, I have had my Real Estate license since 2005 and I am with my 4th broker..long sad story. Anyway, this time I went with a very small Broker..no office fees and commission split much higher than I ever had. I was so worried, let me correct this, I am so worried that I won’t have the training that I’ve had with other brokers. I said I’m going to YouTube to see what I can learn. I have learned more watching your videos than I have EVER learned at ANY of my broker’s training. I live in Southfield, Michigan and as soon as I can afford your coaching, I am going to reach out to you. Thank you for these videos, thank you for educating us on all things Real Estate!!!! I just want to be successful this time.
My friend is a realtor and I automatically went to her first, thinking how great it would be to hire her. Huge mistake! It took her a month to come over and comp my house and she did none of this. Her CMA was price per square foot only. We are now interviewing new agents and t’s going much better, but no one has been as thorough as you. Wish I could find someone as good.
This video is sooooo useful Brandon! I’m nervous as heck to talk to them today! Ty for showing me this !!