W+R Studios’ 2020 Survey of Best Practices for CMAs and Listing Presentations

Got a few nice write-ups on a recent survey W+R Studios put out.

From Andrea Brambila of Inman News – Most agents aren’t including Zestimates, iBuyer info in CMAs

“W+R Studios, whose flagship product is comparative market analysis software Cloud CMA, fielded the survey “2020 Survey of Best Practices for CMAs and Listing Presentations” online from May 18 to May 31. The company sent the survey to its 298,520 Cloud CMA agent and broker subscribers, of which 3,325 completed the survey. Survey respondents hail from 46 states nationwide.

“Any agent creating a comparative market analysis wonders whether they are ‘doing it right’ or is curious about what other agents include or don’t include in their CMA. This survey gives agents an inside peek at the best practices of what goes into creating a winning CMA,” said Frances Wiseman, director of marketing for W+R Studios, in a statement.”

I was also surprised that most agents were not including Zestimates in their CMAs. Less so about iBuyer offers, since the number of iBuyer markets is still limited.

From Victor Lund of the WAV Group – Survey Results: Best Practices for CMA

“A powerful data component that is affirmed by the report is that agents interrogate all listing statuses in their CMA. Active listings are important to understand what is available to buyers today, but pricing is particularly influenced by pending, sold, expired, and withdrawn listings. The CMA may be one of the reasons why homes are selling so much faster (lower days on market) than ever before. It is hard for a listing to hide when the listing price is too high. Surprisingly, the report indicates that the properties included in a CMA range from 5 to 11. Agents focus on the Days on Market Comparison more than 61% of the time, making it one of the most vital calculations in the CMA report.”

Yup, Days on Market (DOM) is a huge deal for agents. Which I know is a battle at most MLS organizations.

Check out the full results here. If you are at an MLS organization this would be a perfect thing to share, since a lot of agents wonder whether they are doing a CMA “right”.

I would love to hear any suggestions to make the report better for next year. Are there any questions you want to ask? Let me know.