Step 1. Follow the CMA Process of a Top Producing Real Estate Agent.Sep 07, 2021
Step 1: Follow the Comparative Market Analysis of a Top Selling and Top Listing Real Estate Agent.
A correctly and thoroughly carried out comparative market analysis is the backbone to a successfully sold property.
Your hard work has paid off. All the prospecting activities have come to fruition, and you have earned the opportunity to give a Listing Presentation to a potential seller! That is amazing! Well done!
Now is the time for you to focus your energy on laying a solid foundation to build your listing presentation off. At this stage, it’s crucial that you now carry out your comparative market analysis thoroughly and correctly.
A correctly carried out comparative market analysis will fully inform you on the current marketplace activity, it will inform you on how your potential sellers’ property is likely to perform in that marketplace and at what sales price.
The CMA will also inform you on what is competing with your potential sellers’ property in the marketplace, and at what sales price a property will not sell in a marketplace.
An unfortunate oversight of many new real estate agents is how many property listings a single well-executed comparative market analysis can bring that realtor.
Consider the following…
To become known as an active real estate agent within your marketplace, you must be seen to actively List and Sell property in that marketplace.
The quickest and surest ways to have potential sellers call you and ask you to meet with them to chat about listing their property for sale – is when the potential sellers see you actively list and sell properties in their marketplace. The activity of successfully listing and selling property in your marketplace makes potential sellers attracted to you as the local real estate agent.
When you correctly and thoroughly carry out a comparative market analysis:
- You will improve your listing presentation
- You will improve your listing presentation script and listing presentation dialogue
- You will perform better at your listing appointment
- You will be so well informed on the local property marketplace that you will comfortably handle and neutralize listing presentation objections
- You will learn to list the right properties for your marketplace.
- You will learn to price your properties correctly, at the right sales price, so they sell effectively.
- You will inform yourself so much on the marketplace that you speak with the air + confidence of a top listing and top-selling realtor.
- You will have such knowledge and understanding of your local property marketplace and its activity, that you will be able to communicate it in such a way your potential sellers, lean in with trust to what you are saying, and they allow you to guide them on the best possible list price for their property.
Carrying out the CMA correctly and thoroughly should take you about an hour and there is a simple step-by-step process to follow.
I have linked below a real estate training video on comparative market analysis training, on how to carry out a CMA to the standard of a top listing and selling real estate agent.
In this comparative market analysis training, I take you through the exact step-by-step process to ensure you build a solid and winning foundation for your listing presentation by carrying out a correct and thorough CMA.