How do I run a CMA for appraisals?
We'll show you how to use the Comparative Market Analysis (CMA) tool to generate professional CMA reports for your appraisals.
Generate a CMA
- Navigate to the Property Report and select Sales CMA or Rental CMA under Appraisal Tools
You can also select CMA Report from the Quick Search bar.
- Confirm the Property Features
The Property Features tab allows you to confirm the attributes, and if necessary change the address that displays on the report. Select Next Step to continue
- Update your Cover Page & Letter
Tip: You can exclude any section of the CMA Report that isn't relevant by unchecking the box next to the section name.Select the Cover Page to be included - a preview of the cover will load to the right.
Complete the Cover Letter details - or select Use Default Letter for a generic option.
If you make changes to the letter, you can save this as the default letter by selecting 'Save letter content'
- Include Research Charts & Maps
The Research Charts & Maps allows you to include visual aids or statistical charts in your Appraisal.
Select the options relevant to your appraisal. There are four options to choose from:
Suburb Profile (ABS Statistics)
- Add Comparable Properties
The CMA allows you to include For Rent, For Sale and/or Recently Sold properties within your report.
For each section, adjust the search criteria as necessary then select Search for view the results
A list of comparable properties will appear and the system will then automatically select 10 properties it considers a best match.
You can update the properties that are included by selecting (or unselecting) the tick box on the photo for each individual property.
Click Sort by: to sort the properties in order of best match, most recent, highest or lowest price, or closest.
Once you are happy with the included comparable select Next Step and repeat until you have selected all three comparable options.
Tip: If you have not completed the search to select comparable properties the system will still include the properties it considers a best match.
- Add a Summary Page
This Summary Page allows you to enter a Sale and/or Rental Price estimate for the property.
You can either enter the price manually (using a Pricefinder Estimate, or your own price indication) or select the generated price range based on your comparable properties.
The generated price range is calculated as ∓5% of the mean sale price of your selected comparable properties. The may be useful if you have a unique property or located in an area with low sales activity.
- Select Finalise CMA to generate the report as a PDF
Frequently Asked Questions
- Within the CMA go to the Property Features Tab
- Select the image under Property Photo
- Scroll through the photo carousel to the image you wish to make the main photo
- Select the 1 in the top right corner of the viewer to update the main image
- Select the x in the top right to exit the photo carousel
The main photo will be updated
You can update the image that is displayed by:
- Select the current photo for the comparable property you wish to update
- Scroll through the photo carousel and click into the image you wish to make the main photo
- Select the ‘1’ in the top right corner of the viewer to update the main image
- Select the X in the top right to exit the photo carousel
The main image will have updated within your search results list
See our article that shows you how: I want to set up branded reports
Simply search for the address under Add Comparable Sale and select the matching sale from the drop down. It will then be included in your search results.