When building a CMA report using dashCMA it is important to review the data pulled in from public tax records on your subject property in order to ensure that the most accurate comparables will display for your client. You may also review the search criteria that is being used to pull matching comparable properties.
After entering your subject property's address, you will have the opportunity to review and adjust the public information found as well as preview the matching results.
This second step can be broken into two parts:
The subject property's public data and comparable search criteria options to the left.
A map of all matching comparables found in your selected area to the right.
For more information on dashCMA, click here.
Subject Property Data and Comparable Search Criteria
This area holds both your subject property's data and the search criteria that dashCMA will use when searching for comparable listings in the MLS.
It is recommended that you check the subject property's public data so no erroneous information is included in your CMA report.
TIP: If you enter a property address and it displays 0 total matches, adjusting its data points, like bed count or year built, will usually help correct any inaccuracies within the public data and matching comparables will display.
You have the option to adjust the comparable criteria for:
Total Lot Size
You are able to adjust the subject property's data for:
You can also manually enter MLS IDs for listings you would like to use in your CMA.
This will default to pulling comparable listings that match the subject property's listing type initially, but you can change it to include other types, checking as many boxes as you would like applied.
You can change the subject property's type by clicking on the orange pencil icon, choosing another option, and then clicking on the orange checkmark to save it.
The year built criteria option will default to pulling matching comparables for all build years, regardless of your subject property's year.
If you would like to limit the year range, you can choose a starting year and dashCMA will limit the results to anything built after your chosen decade.
You can change the subject property's year built by clicking on the orange pencil icon, typing in the desired year, and then clicking on the orange checkmark to save it.
dashCMA will default to looking for Closed listings within the last 6 months to match as comparables. This sets your report up with a nice wide range of recent properties to display, but you are able to narrow or expand that range as needed for any specific properties.
For instance, if you are pricing a listing in a niche market or a smaller area, you can use the orange line to increase the closed date to 8, 10, or 12 months up to 24 as needed to successfully build an accurate CMA report.
The default number of beds that dashCMA will use to find comparable listings will match the bed count of your subject property. So if public tax records indicate the property has 3 bedrooms, the tool will default to pulling other 3 bedroom listings to compare.
You can set a bed count range similar to the closed date range and easily compare your 3 bedroom property with listings that have 2-3 beds or 3-4 beds in the neighborhood for a comprehensive report.
If the bed count is inaccurate from the public records, you can click the orange pencil icon and type in the correct amount. Remember to click the orange checkmark button in order to save your selection.
The range for this option will default to 20% on either side of the subject property's square footage. You can change the subject property's square footage by using the orange pencil icon and you can adjust the square footage range for comparables by using the orange line to expand or narrow the amount.
This data is pulled from PropertyModal records and only includes the living area size of the home itself, not the total lot size. It is recommended to begin with a narrow range for most accurate comparables and widen it as necessary for more results.
Total Lot Size
The data for total lot size is pulled from PropertyModal as well and includes the entire lot size for the property, including backyard, driveway, etc..the total lot size for a condominium will show the full size of the entire building.
You can adjust the lot size range by clicking on the white "Change Lot Size (optional)" button and adjusting the amount displayed.
Please Note: At this time, dashCMA is unable to set search criteria for comparable listings using acreage. This is on the roadmap for a future platform update, however.
At the bottom of the comparable criteria options, you can easily add any MLS IDs for listings that are not or cannot be pulled to use as a comparable. This is helpful if a Seller or Buyer wants to see a specific property included that does not match your criteria.
There is a section along the top of the criteria list where you can access this section as well.
Map of Matching Comparables
The Area Listings map to the right provides a preview of the matching comparables along with a way to narrow down the location size for pulling matching listings when needed.
This is very useful if pricing changes dramatically across neighborhoods, highways, or other distinguishing features of the area your subject property is located.
You have two choices for narrowing or enlarging a search area:
Adjusting the radius circle.
Drawing a polygon boundary.
To adjust the radius circle, simply click on the drop-down arrow at the top of the map and choose an option from the list of options. The results will refresh to show you the updated map of comparables.
If you need to select a specific area in which to find comparable listings, you can click on the polygon icon to the left of the radius drop-down and draw your desired area.
The listings that appear on the map are color coded for further visibility.
Green = Active
Orange = Pending
Red = Closed
Dark Colors = Not a Match
You can click on any of the location markers in order to pull up more information about that property and add it to the CMA report as a featured listing.
If you have any further questions about dashCMA, please reach out to Customer Support via the blue chat bubble to the right or by emailing firstname.lastname@example.org!