Traditional CMA reports focus mainly on comparable listing details and very broad market trends in order to help you and your Seller price their property or offer effectively. CORE Present, on the other hand, hones in on both comparables as well as specific market trends that directly affect your subject property.
For more information on CORE Present, click here.
After entering the subject property's information when building your CMA report, right under the pricing picture range, CORE Present sorts those market trends into easy-to-understand tiles which will help you set proper expectations with your Sellers and show further support for the price you are suggesting they price at or submit an offer for.
For more information on the pricing picture range, click here.
Article Sections
Market Assessment Tiles
The information in each tile reflects the MLS data found from the search criteria and location area that you originally selected to match comparable listings to, breaking it down into bite-sized chunks.
You can use this information to have a deeper, more meaningful conversation with your Seller or Buyer about their specific property versus the entire area and they will more easily be able to understand how the market may affect their selling or buying choices.
List Price
The supply vs demand scale shows the changes over the last six months. It is calculated by taking all your chosen criteria and comparing it to each month's average days on market and average listing supply, keeping the focus on your subject property.
Fresh/Stale
One of the most important factors to take into consideration when pricing a property is listing competition in the same area. Price too high and buyers will choose a more affordable home in the same neighborhood; price too low and sellers lose part of their return on the initial investment for their home.
The Competition tile plots out other Active comparables in the same location and uses a color code to indicate their days on market.
TIP: You can click on any of the location markers for more information on that particular listing!
Selling Pace
While most traditional CMA reports combine what has happened in the past with current market trends, CORE Present splits those two factors out individually to provide a more accurate depiction of what has happened (Selling Pace) and what is currently happening (Current Active Shelf Life).
The orange dots represent Closed comparable listings while the orange line demonstrates how the length of time a property is listed for will affect its final selling price.
TIP: You can click on any of the orange dots for more information on that particular listing!
Price per SQFT
Similar to Selling Pace, this tile compares how square footage can affect a property's final selling price.
TIP: You can click on any of the colored dots for more information on that particular listing!
Pricing Rate of Change
It is likely that you have experienced a Seller who was absolutely certain that their property would close at a higher dollar amount than their asking price and they were probably disappointed when that was not the case in the end.
Using this graph as a visual aid may be key in setting the correct expectations for your Seller and showing them an accurate projection of closing price based on the last ten Closed listings.
TIP: You can click on any of the 'Click' links under the orange bars for more information on that particular listing!
Current Active Shelf Life
This tile's data combined with the information shown under Selling Pace is one of the best tools you can use to help your Seller understand how market fluctuations can affect the length of time their property is up for sale.
TIP: Hover over any of the colored dots for more information on that specific month.
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If you have any further questions about market assessment tiles, please reach out to Customer Support via the blue chat bubble to the right or by emailing kvcore@insiderealestate.com!
(Keywords: cp, corepresent, core present, CMA, presentation, market assessment)