Comparative Market Analysis’ (CMAs) have been around for years. Every agent is familiar with the concept. You have a seller lead, or past client, who is thinking about selling their home, and you compile a list of recent comparable home sales in the nearby geographic area. Some CMA tools will allow you to “weigh” some of the comps higher than others, based on things like square footage, bed/bath count, and interior finishes. Others simply provide a blended average of the nearby sales and spit out a price recommendation. Either way is fine, but I’m going to share one particular twist on the traditional CMA that has really helped me grow my business.
INCORPORATE VIDEO / SCREEN SHARE
We know that the world now revolves around video. Zoom meetings have replaced in person ones, social media is all centered around video, and real estate marketing prioritizes video. Zillow promotes listings with video walkthroughs higher in their search results. So, we should probably use video to improve the value of our CMAs.
Services like BombBomb, Vidyard, or Zoom/Google Meet, allow you to use the “screen record” feature for your CMA. By placing your front facing camera on yourself, your client will be able to see YOU talking about the CMA as you’re building it. Then, you can explain why certain comps are more relevant than others, and even go through the pictures of the previous comparable listings, right there along with your listing lead.
Here is an example I shared as an Instagram Highlight. (Note: this was actually filmed like three years ago. Don’t mind the poor attempt at a beard.)
As you can see, I was able to screen record WITH the front facing camera, which allowed me to send the client an email with the breakdown AND myself in the video. These types of video CMAs get way more engagement than just sending the info over and hoping that the client goes through it themselves.
GIVE THEM A REASON TO REPLY
One last thing. Only go through one or two of the comparable sales. Maybe include a line at the end of your video saying,
“If you want the rest of this report, reply back and I’ll send it over.”
The key here is to give them a reason to strike up a conversation.