How to Create a CMA (Comparative Market Analysis)

Overview

A Comparative Market Analysis (CMA) helps determine a property’s estimated market value by comparing it to similar recently sold, active, or pending listings in the area.
This report assists agents in setting accurate listing prices and providing professional guidance to clients.

Steps to Create a CMA

1. Gather Property Details

   • Address, lot size, number of bedrooms and bathrooms, condition, and any upgrades or special features.

   • Confirm the property type (single-family, condo, multifamily, etc.).

2. Access CMA Tools

   • You can use MLS systems such as OneKey MLS, Staten Island MLS, or other regional MLS platforms where the listing is located.

   • Many MLS systems offer built-in CMA generators that allow you to select comparable listings and generate a report automatically.

3. Select Comparable Properties (“Comps”)

   • Choose 3–6 properties that are:

     • Located near the subject property (preferably within 0.5–1 mile)

     • Similar in size, age, and features

     • Recently sold (within the last 3–6 months)

   • Avoid selecting comps that differ too much in location, condition, or style.

4. Analyze Data and Adjust Values

   • Compare the subject property with each comp and note any differences in price based on square footage, amenities, or updates.

   • Adjust for these differences to estimate a fair market range.

5. Prepare the CMA Report

   • Include:

     • Subject property details

     • Comparable property list with photos and sold data

     • Market statistics or neighborhood summary

     • Agent’s analysis or notes

   • Use your MLS’s report feature or the provided templates.

6. Present to Client

   • Explain your findings clearly and emphasize that a CMA is an estimate, not an appraisal.

   • Highlight how market trends, property condition, and competition influence pricing.

CMA Resources and Templates

You can access sample CMA templates and guide files through the link below:

CMA Resources Folder – Google Drive

This folder includes:

• Step-by-step CMA creation guide

• Sample CMA reports

• Template forms and worksheets

Quick Tip

Keep your CMA simple, clear, and data-driven. Always verify MLS data accuracy before sharing the report with clients.