info_outline
E06: What Am I Missing in My CMA Process?
02/12/2025
E06: What Am I Missing in My CMA Process?
In this episode of the Hey Tiff Show, hosted by seasoned property management expert Tiffany Bowtell, we delve into the essential tool that every successful property manager needs to master: the Comparative Market Analysis (CMA). Learn how a well-crafted CMA is not just about numbers; it's about providing valuable insights and building trust with your clients. What exactly is a CMA? Understand the core purpose of a CMA and how it determines a property's market value by comparing it to similar properties in the area. Step-by-step CMA creation: Follow a clear, actionable process to build your CMAs from the ground up. Gathering essential property details: Learn what information is crucial to collect for an accurate comparison, including property address, bedrooms, bathrooms, square footage, and recent upgrades. Identifying comparable properties: Discover the criteria for selecting truly comparable properties, focusing on size, location, condition, and recent sales history (within the last 3-6 months). Utilising reliable data sources: Find out the best resources for real estate data, including databases and local listings, to ensure your CMA is based on solid information. Analysing market trends and pricing metrics: Learn how to evaluate current market conditions and calculate key metrics like price per square metre to refine valuations. Creating a professional CMA report: Understand how to compile your findings into a clear, professional report using visual aids like tables and charts for easy understanding. A strong CMA is more than just a report; it's a foundation for strategic decision-making in property management. By mastering the CMA, you can confidently navigate the market, optimise your operations, and achieve outstanding success. For a more detailed guide and a full example of a CMA, visit the blog.
/episode/index/show/the400/id/35251295