Good afternoon. My name is Josh Hernandez, and today we are going to be taking a look at the full CMA in Flexmls. Now the topics that we’re going to look through for today are going to deal exclusively with setting up and completing a full CMA. So I’m going to start on the search where I’ll find and select comparable listings. We’ll go through the full CMA. And if you attended last week’s class on the three minute CMA, I’m going to go into a lot more detail on the screens this time around. And then we’ll also look at saving or editing a saved CMA once you have that and where those are located. With that, let’s go ahead and start the process of looking for comps. Now I’m gonna exit the full screen mode, just so I have Flexmls up over on my other tab. But if you are new to the real estate industry or using CMAs in Flexmls, I’m starting at the very beginning. And what the CMA is, that comparative market analysis, it’s going to help us estimate the value of a property by comparing similar or recently sold properties. So a full CMA will include our subject property and then the comparable listings or the comps, as I’ll refer to them today. So the subject property, that’s the property we’re evaluating. So that’s the one that we are hoping to get a contract on, hoping to put on market and and set that for sale. So as I’m looking at the subject property, I want to take some things into consideration. Number one, the statuses of our comparable listings. You need to include closed listings. Those are the important ones because I want to find listings that are similar that were recently closed so I see what they sold at. We’re going to also consider location. I’ll show you how to just draw a radius on the map today, but you could do other things as well. And then any relevant listing information.
And I’ve got some basics here listed, bedrooms, bathrooms, square footage, stories may be included as well. And in today’s example, we’re going to use ten sixty one Wildflower Lane West, and this is going to be done in West Fargo, North Dakota. So what I’m showing on my screen, you might not be able to replicate exactly as far as my example, but all of the processes that I show, you will be able to replicate in your version of Flexmls. And just some pertinent information I put out here, it’s a single family home, four bedrooms, three baths, twenty three hundred approximately square foot above ground, and two stories. So you can put in other things in the search, but that’s what we’re going to be looking for today. So I’m just going to show you how do we start that search for comparable listings. So I’m actually going to begin this process in the quick search. Now there are different ways to start a CMA or to find comps, but I’m going to take what I know about my subject property so far. So maybe I did a tax lookup on it, or maybe it’s been on the MLS previously, and I know this basic information about it. And what I’m going to do is I’m going to locate it on a map and start searching for nearby listings that have been sold within the past year. So I’m going to start this whole process for my CMA from the quick search screen, and I’m just going to build my search from scratch in today’s example. There are quick comparable searches that you can do. And if you attended the three minute CMA class or if you go to the Flexmls Academy and look for that three minute CMA class, you can see some other ways to start a CMA. But this is the most fundamental and easiest way to start it. We just start on the search, taking what we know about the subject, and searching for comps. So number one, I select my property type here. I’m looking for residential, so that’s already in by default. And then statuses to include. You can choose a single status, so the most important status when trying to find comparable sold listings is looking for that closed status, or some MLSs may have it labeled as sold rather than closed. But and when I have that selected, I have my off market dates underneath, and it’s going back one year in most MLSs by default. But double check. Each MLS has a different standard that they use. Most use one year back by default, but you can always double check-in the dates at the bottom.
If you want to include multiple statuses, the ones that are used to create the suggested selling price for our subject property are only going to be the solds. But if I want to include, say, hey. There are some active listings that are out there right now just so people can see what the active ones are listed at as well or pending listings, You could always hold your control key and make multiple selections here. You don’t need to. I’m just going to do that to show you on the CMA where things get broken down into different sections based on status. But, again, the most important one that you need are sold listings. So I’m look including those closed listings one year back. And then I’m in North Star MLS right now, so I want to start looking on my map or within my search template for listings in West Fargo. If you’re using your map to search, you can bounce back and forth between your search template and the map at any time. So that’s what I’ll do right now. I’m just going to close this, and I’m going to use my map tools, and I’m going to find the address on the map. This works great regardless of if the listing has been on the MLS previously or not, because this is just you looking for the US postal address location for that property. So it doesn’t matter if it’s been on the MLS previously. I use my map tools, click on that red push pin, and when I click that red push pin, I get my locate address box that comes up. So this is where I start typing in that address. Ten sixty one Wildflower Lane West, and then my zip code. In this case, it’s going to be five eight zero seven eight. And I’ll click on locate. And you can see that it has actually drawn a one mile or it pinned that on the map. I’m just gonna zoom in on this. I’m gonna draw a radius after this. But as I’m zooming in my on my map, you can see where that push pin is located. And I am just using the scroll wheel on my mouse when you see that screen zooming in, but you didn’t see me clicking anything. My mouse has a scroll wheel, so I was using that. But as I’ve zoomed in, I’m just going to see that pin on the map where we’ve already pinned it to that location. And in that map bubble that comes off of the push pin, there’s the option for radius search. So I could always draw a shape specifically around a neighborhood, or I could search and use fields. If my MLS has a subdivision search or a neighborhood search, I could type that in over here. But what I’ll do right now is just create a one mile radius from the tip of where I’ve of the push pin. That’s where it’s located the property. So I’ll just keep that one mile default, although you can change it to whatever you’d like. And I’ll click create radius. And now you’ll see as I zoom out, it’s going to be looking for listings within that one mile radius that I’ve drawn. Now I haven’t put in any search criteria yet.
So there are actually, if you look over on my search template, two hundred and twenty five listings that are populated here. So now I’m going to start, since I’ve got my subject property located and I drew a radius around it to find nearby listings, and I’m looking at active, pending, and sold, I might come in and start putting in some of my basic search criteria. What do I know about that subject property? So maybe I did a tax search on this, and then I see it’s got twenty three hundred twenty nine square foot above grade. So as I’m looking on my search template, I see it’s got an above grade. Now your MLS might have something different for total square footage fields, but in this MLS, I’m just searching total above grade or above ground. And since that has right around twenty three hundred, I’m going to look a little bit on either side. And so I’ll just go twenty one hundred to twenty six hundred. And you can always start big and start narrowing things down. You’ll notice my results now, I’ve gone through from a few hundred listings to twenty nine listings. And I know that my subject property has four bedrooms. So I might say, well, let’s look at four plus. And if I’m getting too many results, maybe I’ll just say a max of four, but I’m gonna start kind of general right now. And total baths, again, I’m going to just start. I know I have three total baths on my subject property. So I’m going to say three. You can cap that at four, or you could cap that at three. I’m just gonna use plus right now, just look at results, and we can always come back and change our search criteria in a moment. And as I’m looking at things here, I’ve got bedrooms, I’ve got bathrooms total. You may have a property subtype or in this MLS, it’s called style. But here’s where they have single family And maybe you’re built. And I know my subject property was built in twenty fifteen or twenty sixteen. So maybe I’ll just say, let’s look for twenty ten plus.
And again, if there’s not if there’s something that I want to search on, but it’s not here, I can always click add a field. I think with this one, I am going to add stories. This MLS has a stories group field. So I’m just going to say two stories. I know my subject has two stories, so now I’m down to sixteen.
Now with those sixteen results, some are active. I can see those in blue in the radius we’ve drawn, or excuse me, the actives are in green, the closed or sold are in blue, and the pending are orange. And if you want a key just to look at that, I’m just going to look at this color wheel on my map options, and that just tells me the statuses I have selected out here and what those colors mean. You could also look at this by price per square foot. So I can see approximate pry price per total square foot right here as well, and they just get darker the more expensive it is. I’ll go back to looking at that by status though. And at any point in time, as I’m ready to start evaluating these, I can move from edit search and start viewing these in list form, detail form, photos, map, whatever that is. So I’m looking at these in the list right now. I have a custom view that I made earlier that just changes those columns of information. Now I’m not gonna get into how to make custom views today, but I will point out there is a little tutorial right next to that, and you can click on the guided tour to walk you through creating your own custom views here. But as I’m looking at this, I’m looking I see my original list price, sold price. So as I start getting down in my sold listings, I’ll see that sold price, price per square foot. Their subtype right here, single family, stories, these are all two. And then I see my total square footage above grade or above ground square footage, bedrooms, bathrooms, full baths, half baths, garage stalls. So as I’m looking at these, I might just start briefly analyzing a few saying I’m going to grab a few actives just to show show some that are on market currently that are active where they’re priced at. If you’d like to, you can include those pending ones. I’ll do that just as an example today. The active and pending listings aren’t going to really come into play as far as our suggested list price when we use the full CMA. So those are totally optional for you to include. The important ones to include are going to be the sold listings as I’m evaluating those. So as I’m looking at it, I see maybe four thousand five hundred and eleven Sunset Boulevard, and I know my subject has a total square footage. I looked this up earlier. It had thirty one ninety. So this is pretty pretty close right here. Above ground, my subject had twenty three twenty nine. Again, pretty close, so I’m going to select this one. And I’m going to just grab a few of these right now. We’ll grab about five.
And I can always start looking at these, the details, the photos, making sure they are good comps for what we’ve what we want to use in our CMA. Now I’m not gonna go through and look at all the details and photos and and really pair these down. But one thing that I do want to point out to you, One, as I’m comparing these, whatever listing I highlight on the left, that’s what displays on the right. But right now, I’ve got ten listings that are selected, three active, two pending, and the rest are sold listings. But I’ve got sixteen search results. To see only the selected, you just click right at the top of that view column, and now it’s just showing me those selected ones. So that can make it much easier to compare these. As I go through and look at the photos for this and say, okay. I think that’s a good one. And then I come and look at the photos for this one. I’m gonna use that.
But that way, I don’t have to worry about anything coming in that I haven’t already selected. I’m just viewing those that I’ve selected. And when you select listings, if I go back and edit my search, and if I change things entirely, maybe I’m just going to look at this and say, let’s look at things that are above twenty six hundred.
I’ll say above twenty six zero one, and we’ll see there’s two listings that have come in. And those would not have been in my original search. If I look at the search results now, I can always just use this navigation row and edit my search at any point in time. And if I want to pick something out of here and just add it to my selected, now I’ve selected this one, It’s been put in with those selected listings. And you can select up to two hundred listings. You’re probably not going to use that many for a CMA. I’m going to use five sold listings in today’s. And as I go through and look at these and evaluate, I might say, oh, this one that we just selected, that is not the best option. I’m going to take that off. And now we’re back to ten. And also as I’m viewing these, I can come and say, well, this is probably my best comp. So I’m going to move this up to the very well, first, let’s do this. I’m gonna sort these by status. So I’m gonna put my closed listings at the top and then my pending and active. And then I might say which ones are the best comps, which ones are comps that are a little bit on the edge. And from here, I can drag and drop when I’m viewing just those selected listings. So if I want to come in and say that one’s a little better than this one, this one maybe is even better than that first one I chose, whatever that is, I can change the order. So we can change the order of our comps when we actually get to the CMA module, but you can also do it before you send the listings there. So I just wanted to show you here, as we build that search, we look at the listings that in the list page, the detail page, the photos. Maybe I want to look at them on the map and see where things are located.
And, again, I make my selections based on what are what I believe are the most appropriate comps, the ones that are most similar to my subject property. And I just pointed out where we can modify that search at any point in time, keep the ones that you’ve already selected, change your search entirely, and only those selected listings will remain. So you can keep going through and kind of as a recursive process to that search, always just going back to edit search, tweak things here, and seeing new results that you get.
If there’s any you’d like to keep, then you can always put a check mark next to those and just keep adding them to this. Now from here, I’m actually going to go and send those listings to the full CMA. So I’m going to click back on my search results screen and I’ll show you where the CMA option is. And when we get there, I’m going to see all of these parts to the CMA. So I’ll just work my way basically across the top of the page when we get there, select the CMA type, set up my cover page, my subject property, my comps, adjustment summary, recommendation, and finish. So what that looks like from here, I’m going to take my selected listings, my ten selected listings, and I’ll go up to my actions at the top of the screen. I will select the CMA option, and then I’m going to use the top half of my CMA menu. Some MLSs out there may have a one line CMA option like you see on my screen. I won’t go into that today, not all MLSs use that. But all have the ability to run the full CMA that I’m about to do. So I’m going to say, let’s just use the listings that I have selected. I’ve got ten selected. And then on my next page, I am going to see three options, the full CMA, the quick CMA, and a statistical CMA. Now the full CMA is what we’ll do today, where we have a subject property, we have a recommended listing price. The quick CMA looks similar to the comparison page on the full CMA, but there’s no subject property. There’s no recommended price. This is just a side by side comparison of listings. And then lastly, there’s a statistical CMA that just gives me the stats for my search results, how many have been sold within the past three months, six months, nine months here, and a little bit of that statistical breakdown. But I’m going to use the full CMA today. And then once I select full CMA, your MLS likely has a statistical average field option here. Your options may not be the same options that I have.
But I am going to just select total finished square footage. We will see this I’ll show you where it comes into play on the CMA itself. It’s going to be kind of on our stats page with the CMA, and it’ll give me a price per finished square foot, sold price, list price per finished square foot. So that statistical average field, you can select. Again, it might see different fields for your MLS. But then I just select the option for next. And that takes me to the actual CMA page where I have my cover page, subject, comps, adjustments, summary. So we’ll work our way across these and create our CMA. Now the first page we start, as you see, is the cover page. And it’s got a title already, comparable market analysis. You can modify that if you would like. And then who is this for? I’m gonna create this for Jeff Frank. And then the CMA date that prints with this. I can say as of today, right now, maybe I’m meeting with Jeff later today. I’m going to print this out, take this to him, let him look it over as he’s looking at and considering putting his house on market here. So I’m taking this maybe as part of a presentation. Or maybe I plan to do this. I’m meeting with Jeff after Thanksgiving right at the end of the week on Friday. I’ll just say use the current date so I can print it off that morning, and it will have Friday’s date on it. And then I’m going to send this. I can use my signature card here. You can make a custom signature for that and just type in what you want that to say as well, but I’ll just use my basic business card. And then also on the cover page are my comments. And I can type in whatever I want is comparable market analysis. I can give a little explanation for it. And you’ll notice it tells me that I have three thousand characters available here. As I start typing in, it tells me how many characters I’ve used. Now this page, the cover page, most frequently asked question as people are using the CMA module is, can I save the comments section and just use that as a template? So when I begin a new CMA, I don’t have to type in the same thing again and again. And there is no option to save those comments here. So what I always suggest in my classes is if you type in a good summary of basically what you’re doing in the CMA, something that you can tweak and customize in the future, just highlight it, copy it, paste that into a word document or something that you can copy and paste back into here. So the next time you create a CMA, you can just copy it from your document, put it in here, tweak it a little bit if necessary, and then we go on to our next page. And you can do that by clicking next at the bottom. You can also just click between tabs at the top. You don’t need to click on next, but I’m just working my page top down.
Now on this page, I can type in the information manually.
So I can type in ten sixty one Wildflower Lane West, West Fargo, North Dakota five eight zero seven eight, and I can manually put in the information that I want to compare. But there is also the option to auto populate that. So if the listing has been on or if the property has been on the MLS before as a previous listing, you can always auto populate that. Before I auto populate though, I want to look at my subject property additional information. These are the fields that we’re going to be kind of comparing side by side as we go through and look at our comps. So you can see your default template may look a little bit different than what mine does. Mine has bedrooms, total baths, total square footage, lot dimensions, acres, style, your built. And then a few fields, map, letter, currency code. I’m not really sure what those are used for. I’m not going to use those in my CMA.
So if you see something here that you don’t want to use, you can always just click that trash can icon next to it and remove that from your fields that you’re about to compare. If you want to add something that’s not there, I have a total bath, but maybe I want full bath and half baths. And maybe I want my above ground finished square footage or total square footage. I can always just click on new item.
And then I have all of those fields that I could put on here. So example on this one, I’m going to go through and add my bathrooms full. I’m going to add baths half. So I’ll just go down to that b section again and half baths in here as well. And then maybe I’ll click on some of our total finished square footage, or maybe it’s right at the top above grade.
Above grade, unfinished, above grade total square footage. I’m just gonna add that one here as well. Now if you add in fields or remove fields, you can also change the order. So I’ve got my bathroom fields at the bottom, but I have total baths here. You can always say, let’s put full total baths, full baths, half baths. And then I have my total square foot, but I also want my above grade finish or total square foot. Now bring that in right here. Lot dimensions, acre, style, year built. So you can rearrange things that way. Now I’m going to go in and auto populate this. And you can only use the auto populate if it’s been on the MLS previously. If it hasn’t been, you would have to go in and manually type in all of the information that you’ve found for this. But this one has been on the MLS previously. I did not write down the MLS number, which I’ll need to use for auto populate. So as a sort of trick here, I’m going to just use that search bar at the top of the screen, and I’ll do ten sixty one Wildflower Lane. And I see it here. I could jot down the MLS number if I’d like. But just to make sure, I’m gonna click open in a new tab. So as I hover, open in a new tab. And then I just wanna double check. This is the one that I want to use to auto populate the previous version here. So I’ll look at this ten sixty one Wildflower Lane, look at the listing information, look at the photos. That is the one that I want. So now I’ll just highlight the MLS number, copy, go back to my original CMA tab over here. And now when I click on auto populate, I can put in the MLS number. If your MLS participates in data shares, you might be able to select a different MLS to use. But I’m just going to click my default one. And then you see it auto populated that for me.
Now I’ve got the MLS photo from the previous version of the listing here. If I have my own photo that I took, maybe I did a nice drive by here, got a good photo, You could always upload the photo here and replace that as well, but this is just using it from the previous version of that listing. And then you’ll see bedrooms, total baths, full baths, half baths. And I might look at this and say that information from the previous version didn’t have full baths and half baths broken out. But I happen to know that it has two full baths and one half bath. It had total baths, but it didn’t have that in the previous version. So I can always modify what was auto populated. And for also, lot dimensions is blank. If I have that information, I can type it in, or I’ll just click that. I didn’t write that down earlier. I didn’t get the acreage earlier, so I’m just gonna take those off now.
So you can modify the template after the fact as well.
And from here, I am going to just move on to my next tab, which is my comps tab. Now when I’m on the comps tab, this has those ten listings that we had selected previously. And I changed the order on our search results so they come in in that order that I had arranged on my search results. If you did not change the order in your search results before I started this process, I can always click and drag and drop to rearrange the order here as well. So, again, I can just move things wherever I want them, but you’ll notice I’ve got all of my closed listings. I grabbed two pending just to see what’s currently under contract there. Those don’t have a sold price yet, so they’re really not going to be included in our recommended price or adjustments really. Same with the actives. We have them there for reference, but they’re really not going to be included when calculating our our recommended list price for this property. Now those are there just kind of for comparison’s sake, but don’t really have an effect on when we get to the recommendation tab, that’s just looking at the sold listings that we’re using. Now the adjustments tab. This tab is one hundred percent optional. So if you’d like to skip it entirely, you definitely can. It is much better to just skip this tab and not put in information if you do not have reliable information to make those adjustments. So, but to show you how this works, I’m going to click on bedrooms, for example, and I see my subject property has four bedrooms.
And I see that fifty four fifty two West eleventh Street or West eleventh Street West has five bedrooms. Now this is if I’m looking at it and I want to think, if it only had four bedrooms, that price would be the the sold price would have been lowered by x amount. Because instead of having five, it would have four.
So if I knew the value of a bedroom for this particular area, I could put that adjustment in here and say the adjustment is adjusting the sold price for that particular field based on that. Because this has more than our subject. It would have sold for less. So I’m going to put in an adjustment. Now I’m putting in the figure of ten thousand. That is not accurate for this market. It’s not accurate for your market. I’m just using that as an example so we’ll be able to see what that looks like when we get to our recommendation tab, our summary tab. We’ll see the recommended or the adjusted sold prices, and you’ll see where that comes into play.
Same thing here as I’m looking at bathroom information. I see my subject has two full baths. Ten fifty one only has one full bath. If it would have had two full baths, would it have sold for more? Probably. So then I need to know what is a bath worth. And again, maybe I’m gonna use that ten thousand figure. Maybe I’m just gonna say, so if it’s ten thousand per bathroom, we’ll just do that plus ten thousand. And again, that ten thousand figure is not an accurate figure. That is going to be just a figure that I’m using for an example today. So the number one question that people have is going to be, well, how do I know what to make for my adjustments? So best place to start is with your broker.
And any anybody that they work with as far as lenders, as far as appraisers that may have information that they provide and provide to your broker, they may be able to say, well, full bathroom is worth x amount, or this neighborhood is, I would say, it’s based on two hundred and twenty five dollars a square finished square foot. So they can make those adjustments here, but I just wanted to show you how the adjustments work. And again, you see I put in a few adjustments here. Since this one has two, this one only has one. The adjusted price for this would if this would have had two, the sold price would have been x amount more. And again, I’m just using ten thousand as an example, and that’s only going to be necessary. I’m only making adjustments on my first five. Those were my sold listings. Those are the ones that an adjusted price makes a difference here as well. I could do the same thing on the half baths. I could do square footage. We do have a separate class coming up after the holiday here, and that is going to be taking a look, more in-depth look at the adjustments tab because I’ve just shown you how to manually come in and type in those adjustments with a plus or minus sign.
And you can actually create an automatic adjustment list as well. I’m not going to get into the automatic adjustments today. We do have a separate class coming up, and we’ll spend a good thirty plus minutes talking just about some of the customizations you can make on the CMA, like automatic adjustments. But I’m going to move from here and go into our summary tab. Now my summary tab, as I’m looking at this, I see it’s broken down by statuses. I see my sold listings or closed listings, my pending listings, and my active listings. And then I’m also going to see those adjustments that were made on any of those listings. So I see, ten fifty one sixty first Avenue, original sold price, the adjustment we made based on bedrooms, bathrooms, whatever it was, and then that adjusted price would have been ten thousand more. So it’s increasing that sold price to an adjusted sold price to make it more comparable with our subject. And again, I see that same thing happening here on fifty eight seventy five eleventh Street West, and the same thing here on this fifty four eighty nine Lori North or Lori Lane. So I see all those adjusted prices. These are the adjusted prices, and that’s if you did make adjustments, those adjusted prices are going to come in to play here on our recommendation tab, the next page over. I did put in those pending listings and the active listings just so we can see what things are on market for right now. We have our low average, median, and high comparable or comparisons here. So I can see all of my sold listings, pending listings, and active, and what the low is, average and median, and high for that as well. And then we have our market analysis.
So on the summary tab, the market analysis, if you remember when we started this process and I chose the CMA type, and I said the total finished square footage, that will come into play here on our summary tab. So I’m going to see this broken down by status, and each status is going to have the average total finished square footage. So I see my average average list price per square or per total finished square foot, average sold price. So that’s where that comes into play, that summary tab right at the bottom. And finally, there’s nothing for me to do on this particular page. This we can include in RCMA, we could exclude it from RCMA, but this is just giving me a little bit of that summary information right now, so I have that.
And our next tab over, the recommendation tab, this is using the information from the adjusted sold prices only with the sold listings, not with the actives or the pendings. Like I said, the sold listings are the important ones. So it’s taking the closed price. There’s my high closed price. There’s my low closed price. And then the average of those five listings is going to be five forty six four eleven. So that’s my recommended, and that’s just the average. Now this is a pretty big spread, four fifty nine to five eighty nine. I might take the average of my comps and just say, let’s do a low recommended price and a high recommended price based on a percentage above or below that averaged out adjusted sold price. So, right, the default’s two point five percent. I can click recalculate. And there I have an adjust or adjustment that’s been done here. So my low recommended price for this listing, ten sixty one Wildflower Lane, is going to be five thirty two seven fifty one on the low end. That’s a strange number. You can come in and say, let’s just change that to five thirty five even.
High recommended price, five sixty even.
And then our actual recommended list price, we can put this maybe we wanna put it at five forty six even right now. And maybe I meet and I see that there are tons of upgrades and they’ve made a lot of improvements. I could come in and change that. So things aren’t hard coded in, but the default recommended list price is based on your adjusted sold price average for those sold listings. And then the low and the high, that’s just gonna give us our range that we might price this between, and we’re just kind of saying five forty six is where we left.
Now it’s not necessary for you to include the recommendation tab. So I know sometimes people like to meet with somebody, give them a presentation first, and then make the recommendation because maybe you come, you meet at the property, and you see that there are things that would cause you to change the recommended price.
So when we get to the finish tab, you get to choose what you do and don’t want to include. So if I want that cover page, make sure the cover page is checked. The map, maybe I’m looking maybe something’s located by a golf course or a body of water, and that would show better from the satellite view of the map rather than just kind of that street map. Subject property description, side by side comparison of listings. I’ve got active, pending, and sold in this particular example, so I’m going to sort them by status. And then we have the search parameters. I’m gonna take that off. The statistical summary, I’ll show you where where this comes into play. The display listing price, that is going to be the recommendation tab. And the display charts is going to come right after that summary information. I’ll show you what the display charts looks like because this isn’t very descriptive. And then since I’ve got ten listings here that we’re using, five of those are sold listings that we’re using to base our suggested list price on, I can print out the details, the detail pages for any or all of those comps that I’m using. So I can say use the detail report, the public or private version, and then I’m going to come through here to see what it looks like. I’ve got my options at the very bottom of the page. View, save, print, or email. It’s gonna come right here. So we’ve got email, save, view, download that as a PDF. I’ll come right out here. I’ll click on view first just so we can see what that looks like. And I’m going to just kind of show this what it would look like similar to what we would print it, although when we print it, it’s gonna be paginated. So we would have our cover page, the comments section right here. Note that there is always a disclaimer at the very bottom that lets you know this is not a formal appraisal. It does not meet the requirements for the uniform standards of appraisal practice. This is just a CMA, it’s not a formal appraisal. I included that satellite view, so I see my subject property, the push pin, tip of that is where it locates the subject. And then I’m going to see I have different statuses selected, active in green, sold in blue, pending are going to be in that yellow color. And so I can see where those are at in relation to our subject. I also see how far they are from the subject property. These are all very close. I was fortunate enough to look for something today. Those are all within one mile, which is expected since I did have one mile radius. Then we have our subject page, our address, and then those fields that we selected for comparison. And then we have our comparables. And on the first column of the comparables will always be the subject property. And so you’ll notice that this is going to be there’s no list price or original list price here because that’s what we’re trying to find for our subject property.
But I can see looking at bedrooms, bathrooms, full baths, half baths, how those compare with our comparables.
I can also see as I’m looking at that, if there were any adjustments made on that. So like as I get to the next row, you’ll notice the subject always stays in the left hand side, they don’t have to flip to a previous page to look for information on the subject property. And I can see any adjustments that were made, and then I can see that adjusted sold price at the very bottom here as well. So if there was an adjustment made, I see the adjusted price. If there was no adjustment made, I see that sold price.
And I’m gonna come down the price analysis section. So price analysis, that’s where I said this display charts. That’s the price analysis section. So it’s going to show me the first four comps that I use. That’s one of the reasons that I selected the order that I wanted them to appear in, because this only shows, or excuse me, the first five comps. It may be able to show more, but I think it shows five. It may show up to seven, but I know it shows at least five here. And here it just tells me here’s the property address, list price in green, sold price in blue. If there was an adjustment made, I see that adjusted sold price in orange. So I can see the adjusted sold price and the little blue dash line that goes through here. You see where everything compares to our actual actual recommended list price, five forty six. I also see our low average, median, and high sold prices and how that compares. You see again that dash line with our recommended price, how that compares. It’s right in that median to average range right here for our recommended list price. Our summary page, we already saw this back when we were looking at our summary page when setting up the CMA. Same page appears here. And then the next page is our listing price recommendation. So it has again that photo of our subject property, low recommended, high recommended, and our actual recommended price of five forty six. And then I did choose the option to include all of those listing reports here as well. So when I hand this to Jeff Rank, he could look through those things that I’ve used as comps, and maybe he knows, oh, this one probably sold for more because it has geothermal heating and it has solar panels. So it probably sold for, you know, twenty, thirty thousand more than some of these others, and that’s the reason why. So I could always go back in and make another adjustment if necessary. But I just pointed that out so Jeff can look at those that we’ve used as comps.
Now I’m going to wrap this up by looking at how do we save the CMA? How do we access the same the saved CMA? And how can we edit the saved CMA? So from here, again, we have our actions at the bottom. We had just clicked on view. I could print this or email that to Jeff, but I’ll click on save. And when I click save, I’m just going to give this a name, and I’m going to give Jeff Frank and type in a little bit of the address here, ten sixty one. You can name it whatever you’d like. I always like to include the name of who I would may be working with as well as the address, just so it’s easy for me to see in a list and and kind of know which one I’m about to look at. So I’ll click on save. And now that’s in my saved CMAs.
So here’s Jeff Frank ten sixteen or sixteen ten, excuse me. I need to change that. That should have been ten sixty one. I’m gonna click on this. I’ll click rename, and ten sixty one. There we go. Sometimes as I’m talking, I’m not looking at what I’m typing on screen, so I just rename that there. So all of your saved CMAs will be here. And when you go to your menu and you click on under the search column CMAs, you’re going to see all of your saved CMAs. Now this is my training account, so I don’t have a lot of saved CMAs here. But you’ll also see there are draft CMAs. And when I’m completing a CMA, every time I’m moving from one tab in that CMA module to the next tab, it saves a draft for me. So if I’m creating that CMA and I get distracted, I accidentally leave, my computer crashes, it saved a draft form for me. So every time you move from one tab to the next tab in the CMA, it saves the draft for you. Those will just roll off. It kind of keeps like the first five or so drafts, and those just roll off. But when you have a lot of saved CMAs, can always select them, edit them, rename them, you saw me do that, or I could even go in and remove that. Maybe I’ve have hundreds of CMAs out here that I’ve done throughout the years. You can clean things up by just selecting them and clicking that remove option.
And, we began all of this from a search. If I click right up at the top left underneath my menu, it says return to my search results. Remember, we began all of this from a search. I had modified my search criteria. I think I went above grade twenty six zero one. I think our initial search that we did was somewhere around twenty one hundred to twenty six hundred. So if I did all of this and created the CMA, and maybe I’m not meeting with Jeff until next week, and I want to run this search again and just see if there’s anything else that’s sold in this neighborhood. Maybe there’s a lot of activity right here. I’m gonna run it again next week just to look to see if anything else has been sold. You can always go in and save that search. I just went to my top actions row on the search. Click the search, and maybe I’ll just call this potential comps.
And I’m not saving it to a contact. I could save Jeff as a contact, but I’m just gonna click save. It is now, if you go to your menu, it’ll be under your saved searches, so you can always access that later. Now that does take us to the end of today’s presentation. And before I leave, I see there is at least one question out here asking, could you go back and show and where that listing report is when I’m created the CMA? And I said I’m gonna choose a listing report for Jeff so he could see all of the comps that I chose, the listing reports, the detailed reports. So let’s look at that. I’m going to go to my CMA section. It’s under search, CMA. I’ll see my saved CMAs. There’s the one we have. And I’m going to click on edit.
And the comps that I used, the actual detail report, when I click on the finish tab, in this bottom section, there’s the detail report that’s available. Your MLS, of course, is going to have different detail reports that are available. I can select a different one from the list just to show you that. So when I click on view, I can come through here, and those are going to be right at the bottom of my CMA after our recommended price here. There we have our reports. Your like I said, your MLS has your own listing reports. They may look similar. They may look slightly different than what you see on my screen, but that’s where you select that report option. Also the default, since I’m printing this for Jeff, is that public version. But if I want this for myself or somebody who’s authorized to see all of the private, all of the MLS only information on those listings, like the agent remarks and things, you can always print that private report version as well. Now I’m gonna take a quick look to see if there are any other questions through here.
And I see a question about when I email this, what is the file size that is saved? So this is not a file that I’m going to email. I’ll actually illustrate what happens when I email this right now. So I’ll email this to Jeff. I’ll click on email, and it’s going to say who am I emailing this to? So let me just check to see if I’ve got Jeff in my contacts. I don’t. I’m gonna add a new contact so we can send this to Jeff Frank.
Now you’ll need to put in Jeff’s email address here.
So whatever that may be, jeff frank at gmail dot com or whatever it is. I just added a brand new contact so I can show you what we’re about to send to Jeff. And then CMA, Jeff. Here is a copy of the CMA that we looked at earlier. When I email this, it’s not going to be an attachment. Rather, it’s going to be a link that Jeff received so he can open that. So I’m gonna click on send page. So that went to Jeff. Now I’m gonna bring up Jeff’s inbox. You can’t break into your client’s inbox, so I’m just I have an account for Jeff that I set up before class.
So give me one second, and I’m going to go into that inbox so we can see Jeff’s inbox.
Alright. This is Jeff’s inbox. Again, I set this up before class just in case we needed to see what Jeff receives for anything. So it would say your name via Flexmls. I sent the CMA subject to Jeff. So whatever I typed in here, I’ve got my business card in as well. But Jeff just clicks on the link. So the attachment is not going to be an actual attachment here. This is an interactive link, so you don’t have to worry about Jeff not being able to open this because there’s attachment size that’s too big or anything like that. Jeff will just click view listings, and that comes directly from Flexmls.
So it’s web driven rather than attachment driven when I send that to Jeff. In addition to that, if I go to contact management, I’m gonna leave this screen here, and we added Jeff Frank right now sort of on the fly, I just sent that email to Jeff. And if I look on Jeff’s record in contact management, there is a section for links. And here I can see a link that I’ve sent Jeff. I see he’s opened it one time. Well, we just opened it as Jeff one time when he viewed that. I can come in here, click oops. Click to see that link so I can see what I sent Jeff. That was the CMA link that we sent Jeff. So just wanted to show that as well since I did see that question here.
I do see another question out there. Since I showed you how to save that search, could I show you where to find that search that we just saved? So I saved that search as comps for Jeff. Under menu, your search, yours might be over in the third column here in Jeff’s, It’s in the second column. I see saved searches. So I’m going to click on saved searches. There are three parts to the search page, draft searches, searches that you ran but did not save, favorites, things I’ve marked as favorites. And here’s the one we just saved for Jeff in all of my saved searches, potential comps for Jeff Frank. So I can come in here, click, and open that up and start looking. Here, it’s on the search results, but you can always go in and edit that search, tweak the search, change the dates on the off market dates here as well. So you can always get back in and see that search in the future.
If you haven’t done so already, make sure click on help, go to the Flexmls Academy. We do have another class coming up in just a week or so under, let’s see, upcoming webinars, the CMA automatic adjustments and customization. So we’ll go into more on the adjustments, setting up an automatic adjustment list, as well as some other customizations that you can do for the full CMA. With that, I want to thank you all for attending today. Have a great rest of your day and have a happy holiday weekend.
