How do I create a CMA?

A comparative market analysis (CMA) is an examination of the prices at which similar properties in the same area recently sold. Since no two properties are identical, you'll make adjustments for the differences between the target property and the comparable properties (henceforth known as comps) to determine a fair price. To put it simply, a CMA is an informal and unofficial version of an appraisal.

There are two common scenarios where you'll create a CMA:

  • Homeowners are preparing to list their home, and you create a CMA to determine an appropriate listing price.
  • Buyers are preparing to make an offer on a home, and you create a CMA to determine an appropriate price to offer.

There are two ways to create a CMA in Remine. You can create a custom Remine CMA 360, or if you're a Cloud CMA subscriber, you can log in and create a CMA in the Cloud CMA interface.

Remine CMA 360

You can leverage the massive amount of data in Remine to create comprehensive CMAs. When you select the criteria for the comps you want to find, Remine searches for properties in two categories:

  • MLS properties - Properties retrieved from your MLS database. For MLS status descriptions, see the What does each MLS status mean? article.
  • Off MLS properties - Properties that transacted outside of the MLS (like FSBOs), which we detect by looking at deed changes and values associated with those deed changes.

Cloud CMA

If you are a Cloud CMA subscriber, you can quickly create a Cloud CMA while referencing the Property Details page in Remine.

Visit the List of Cloud CMA MLS Partners to find out if your MLS offers Cloud CMA as a member benefit.

The following video describes how to create a CMA in Remine:

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