A Comparative Market Analysis is a tool that is used by real estate agents to get seller business. This is done by providing a report, called a CMA, that includes an estimate of the value of a specific property based on comparable listings that have sold, are pending, or are still active on the market. This CMA Tool allows for agents to use basic search filters in Chime to find comparable listings and then revise the results using their expertise in their specific real estate market.
The Chime CMA Tool is a paid add-on feature for Chime users, which comes at the cost of $20.00 per month. You can create up to 4 free CMAs as a free trial, but will only be available in an online version, and the ability to edit will not be available. The CMA can be produced without sold listing data but may lack important data.
The Chime CMA Tool can be purchased in the Chime Market Place, or via the Campaigns page. You can purchase the Chime CMA Tool, similar to other add-ons, for yourself or for others on their team if you are a Team Owner/Admin.
Accessing the Chime CMA Tool
The Chime CMA Tool is located in the Campaigns tab of the Chime CRM, under Listing Suite. From here, you can create a new CMA by selecting the "+ Add New" Button.
Adding a new CMA
You can create a new CMA by selecting the "+ Add New" Button. You are then prompted to add the Client Name and Report name, these are required fields. Report Name will be used as your reference to find multiple CMAs.
Once completed with the Clients Name, and the Report Name, you may then fill out the information to generate the data of the report. Required fields have an *.
- Featured Image. This can be an image of the property looking to be sold or a generic image depending on what you would like to present and have available.
- Address*. This is the address for the property that is being compared to others to determine an initial selling price.
- Location Point*. This will auto-generate with the address, but you can use the button at the right to adjust if needed. This will be important in finding nearby listings later.
- Property Type*. Choose from the available options.
- Living Area
- Additional Info
- Lot Size
- Year Built
- Annual Taxes
Once you click Continue, you will be taken to the search results based on the information provided so far. You also have the option to select Filters in the top-right to gain access to additional options. All search criteria available in the CMS/CRM will be available to use here. You may need to make some adjustments here in order to have enough comparable listings populated. There are only 200 results per listing status (active, pending, sold) will be displayed.
*IMPORTANT: Changing filters will result in selected comps being cleared.
Checking the boxes next to the listings will add those to the ones being compared to the subject property. You can only add a maximum of 30 listings to be compared to the subject property. To adjust the final list of selected listings, click on the View Selected drop-down. Here, you can curate the list you want to present to the seller. Hitting the Trash icon will remove them from the list.
You can also use the map and select the checkbox if you would like that property to display, or use the tools in the top-left to search by Neighborhood or Radius and you can even draw an area on the map if that works best.
Click on the Continue button to the final list of the properties in case you want to remove, reorder, etc.
At the top, you have the ability to choose the Final Estimated Price as well as customize the suggested price range. You will have a summary Price Guide that can show low, median, high, etc. to give you an idea of what to use.
Click the next Continue button when you are ready to move forward.
You can then Customize the layout of your CMA report. You can reorder, delete, and re-add pages. This will also allow you to preview what your CMA will look like to your client. You can add a total of 17 different pages to use. We also offer four pre-built CMA templates that can be used, each focusing on different themes:
Click the next Continue button, then be presented with a page where you can access the CMA via an online link or a downloadable PDF.
You can also Edit, View, Download, or Delete any CMAs that you have created via Campaigns > CMA:
When an edit is made to the following pages, that edit will be saved for the next time that page is utilized in a new CMA built in the future. Those changes will not affect previous CMAs created and their content.
- Title Page
- About Company
- Agent Resume
- Marketing Action Plan
CMA Identity Verification
To prevent CMAs from generating false positives for views. In other words, the lead never actually looked at the CMA but the notifications were triggering and timeline logs were being documented incorrectly. Our system will recognize the Chime user's log-in cookies via the browser so that when CMA reports are viewed, it will not trigger as a notification event even when logged in as a lead.
If a lead is logged into a Chime-built IDX website and they click on a CMA link intended for someone else, they will see a pop-up message informing them that the link is private and they do not have access to view it.
The Buyer CMA has no additional content. Some of the existing pages have simply been tweaked to reflect the perspective of a buyer.
There are multiple locations to access a Buyer CMA:
Click on the new icon that has been added for Buyer CMA. When creating a CMA from this option, the property details for that property will be auto-filled as best as possible.
In the Properties section of a lead profile, a new icon is available. When creating a CMA from this option, the property details for that property will be auto-filled if associated with an active MLS listing.
Campaigns > CMA
Just like when you create a CMA from scratch for a seller, you can also choose to create it for a buyer and choose that template.
If you have any questions regarding this topic or any others, please reach out to our Support Team via email at <email@example.com> or by phone at 1 (855) 981-7557.