PropertyBrain helps real estate professionals work smarter through the implementation of tools and learning. Our goal is to help you grow your real estate business and increase your income.
The Most Powerful Way to Create a CMA
The first - and maybe most important - step in estimating the value of a property, is to identify the best potential comparables. We make this extremely easy with our built in search feature. You can easily narrow down your results with custom search criteria, as well as map boundaries, to help you identify only the properties that a typical buyer would consider in their search for a home.
Our market statistics feature shows you the numbers you need to know for the market area that actually matter for the specific home you are doing a valuation on! We help you analyze the number of comps (Active, Under Contract & Sold) as well as statistics such as minimum, medium, and maximum sold price, sale to list price ratios, and days on market.
Markets change over time, meaning that a home that sold one month ago, three months ago, or seven months ago, would likely have sold for a different price today than it did then. The problem is that there has never been a great way to estimate the market adjustments that are needed in this scenario. That is, until now. Our market trend analysis will give you a clear picture of what the market has done over the last year (broken down into 4 time frames) so you can figure out what adjustments would be needed on any comp. We include daily, monthly, and yearly trend values to help you calculate the most accurate time adjustments.
Once you have the market area locked in, its time to pick the best comps. We make it easy to look through the search results to find the properties that are the most similar in size, age, condition, etc. We show you all the property details, as well as all of the photos from the MLS listing to help you decide how each property you look at compares to your property. Once you have identified the properties you want to include in the rest of the analysis, all you have to do is select them!
We help you break a property down into six categories of contribution, and calculate the value each represents. This allows you to quickly and easily estimate adjustments for things like square footage, garage, land, interior and exterior amenities, and much more! You can save default percentages to help make the process quick, but they can be altered on any valuation to customize the valuation analysis as much as needed. And the best part is, all the calculations are completed for you from the market data you identified in an earlier step!
The best way to analyze the comps is to line up all the properties side-by-side and make adjustments to them. This helps you identify if the adjustments that are being made are valid for all of the comps. Our Comp Grid tool allows you to do exactly this! It will even pull in the adjustments you have already calculated in the Adjuster feature, and allow you to make adjustments (both across the board adjustments as well as individual $ or % based adjustments) to each comp. This process will highlight which comps are the most similar (required the lowest gross adjustments) and which are the lease similar (requiring the highest gross adjustments).
Using a weighted average reconciliation approach allows you to give weight according to how similar each comparable is, thereby allowing the most similar comps to have the greatest impact on the value determination. Once each comp has been adjusted in the Comp Grid, the reconciliation tool allows you to quickly create a statistically supportable opinion of value. We even calculate a recommended weight based on the adjustments each comp required in the comp grid! The resulting value estimate will be the most supportable value based on these comps, but we will also show you the supportable value range so you and your clients can decide on the value that is best based on their specific circumstances.
The biggest problem with most CMA tools is that they don't help you come up with the adjustments needed to produce a supportable property value estimate. But on top of that, most of them show the client a limited amount of important data and give a lot of un-important filler information. We wanted to change that. Our Valuation Packet is customized with your branding, and it displays all the data you created in the other features, so that you have the ultimate resource to present to your clients.
