Wisconsin Comparative Market Analysis - PDF

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Wisconsin Comparative Market Analysis - PDF Powered By Docstoc
					                InnoVia’s


 Super CMA


Create a Comparative Market Analysis
     presentation in PDF format!




  REALTORS® Association of Northeast Wisconsin
        Multiple Listing Service (MLS)


                                                 September, 2005
                     Table of Contents
 3              Begin the Super CMA
 3-5            Enter Information for your Subject Property
         5        Add Photos of your Subject Property

 6-7            Search for Comparable Listings
         6        Choosing and Prioritizing your Search Fields

         7        Choosing the Status and Time Period

 8              Selecting your Comparable Properties
 9              Selecting the Components for this CMA Presentation
10-16           Editing the CMA Components
         10       Cover Sheet, Cover Letter, Table of Contents

         11       Subject Property Flyer, Marketing Plan, Recommended Price

         12       Seller’s Estimated Proceeds, Comparables Flyer

        13-14     Price Adjusted Comparables

         14       Picture CMA

         15       Agent Resume, Testimonials

         16       CMA Summary

17-20           Sample Images of the CMA Components as PDF documents




                                         2
InnoVia’s “Super CMA” allows members to create a presentation in PDF format,
using up to 13 different components and unlimited comparable properties!

The components include:
               •    Cover Sheet                              •   Comparables Flyer
               •    Cover Letter                             •   Price-Adjusted Comparables
               •    Table of Contents                        •   Picture CMA
               •    Subject Property Flyer                   •   Agent Resume
               •    Marketing Plan                           •   Testimonials
               •    Recommended Price                        •   CMA Summary
               •    Seller’s Estimated Proceeds



Begin the Super CMA:
   To begin the Super CMA, select Reports - Super CMA




   If you have used the Super CMA before, the subject properties you have entered will be listed as options.
   If you wish to use one of these subject properties, make sure the button for the correct listing is highlighted.
   You can then click the Edit Listing button to change information for that subject property, or click the
   Next button to continue.

   To enter a NEW subject property, click the New button.



Enter a New Subject Property:

   Use the pull-down menu to select
   the property type for the subject
   property. RANW members may
   select from all individual
   Residential (Residential, Condominium, New Construction, Waterfront, Hobby Farm, and Farm),
   Vacant Land, or Duplex/Multi-Family property types.

   Click the Next button to continue.




                                                         3
Enter Information For Subject Property

  Enter information to create your subject property. When you have finished entering information, click
  the Save Listing button at the bottom of the screen.

  Only fields appearing in bold are required. You must enter: Area, Owner Name/Telephone #, Street
  Number, Street Name, Municipality, City/State, and Zip code.

  Important Note: The Super CMA will use the information entered here to search for comparable
  properties. You do not need to complete every field, however, it is important to enter as much
  information as possible; the more fields you complete, the more field choices you can use in your
  search for comparable properties, and the better listing choices you will have in your search results.


                  Remember: InnoVia’s “time out” function also applies to the Super CMA. If you need to
                  spend more than 15-20 minutes completing the Subject Property information, keep the
                  clock running by saving your partially completed information and editing the listing to add
                  more data! (Keep reading for how-to instructions.)



  Additional fields are included on the entry screen (the image below does not show all fields). Some
  fields, such as room dimensions/descriptions and levels, and the Remarks field, are used primarily for
  display purposes. Information entered on this screen will appear on the Subject Property Flyer compo-
  nent of the Super CMA. (Fields left blank will show field names, but will not show data on the Subject
  Property Flyer.)




   When you have completed this screen, click the Save Listing button.



                                                          4
       The next screen to appear
       contains information that will
       be used on the Cover Sheet
       and Cover Letter of the
       CMA. You may edit this
       information as needed.

       Click the Next button to
       continue.


 Your new Subject Property is now included as a “candidate listing.”




Add Photos of your Subject Property (optional):




    The Photo Upload for your Subject Property works in the same way as InnoVia’s Photo Upload for
    MLS listings (found within InnoVia under Misc. - Photo Upload).

    For each Subject Property photo you wish to include, click the Browse button. Navigate to wherever
    you saved the property photos on your computer. Select the photo you wish to upload, and click
    Open. (At this time, only the main property photo is used in the Super CMA.)

    When you have finished selecting photos for your Subject Property, click the Upload button. The
    Subject Property photo can be included on the cover sheet, and will also appear on the Subject
    Property flyer and Price Adjusted Summary components.

    As noted at the top of the window above, please allow up to 30 minutes for processing before your
    Subject Property photos are available for use in the Super CMA.


                                                     5
Search for Comparable Listings
 The “Available Fields” column contains those fields or features for which you entered information in creating
 your Subject Property. You may use any or all of these fields to search for comparable
 properties.

 The “Selected Fields” column contains those fields or features you have selected to use in the CMA search for
 comparable properties.

 Select the fields you would like the CMA function to consider when it searches for comparable properties.
 The CMA will use the Selected Fields, in your specified order of importance, to find and rank the comparable
 properties. The priority order you select for the fields is just as important as the fields themselves.


                       1.



                                                      2.


              3.
                                                                       4.

1. Selected Fields/Available Fields:

 •   To select a field, click on the field name in the Available Fields column to highlight it, and then click the
     <<Add button to move that field into the Selected Fields column.
 •   To remove a field, click on the field name in the Selected Fields column to highlight it, and then click the
     Remove>> button to move that field into the Available Fields column.

 Items at the top of the Selected Fields list carry more importance when searching for comparable properties. For
 example, if you rank the number of bedrooms higher than the style, the CMA will try to match the number of
 bedrooms before matching the style.

 To move Selected Fields up or down the list and determine their importance in your search results, click on the
 field name and then click the Up or Dn buttons to move that field up or down within the Selected Fields column.

 For the best search results: Use 8 to10 of the Available Fields (move them to the Selected Fields column), and
 rank their importance very carefully. The comparable properties in your search results (most searches return
 approximately 70 listings) will be ranked on a scale of 0 to 100 based on how closely they match the fields you
 have selected, in the order of importance you have selected.

 If you are not careful in selecting and ranking the search fields, you may have 70 listings to choose from but
 very few will be similar to your subject property. (For example, you may match the municipality and property
 type, but the features of the comparables will not match those of your subject property.)

 (Note: All Selected Fields must contain data from the Subject Property. The default fields that appear in the
 Selected Fields column may not be required fields; if you did not enter data for a Selected Field, you must
 remove that field or you will see an error message when executing your search for comparable properties.)

                                                        6
2. Status and Time Period:

   The default settings when using the Selected Fields in the search for
   comparable properties is to find listings that have Closed within the
   past 6 months.

   •       You may choose another status with a click.
   •       If you require multiple status selections, you may hold down the Ctrl key on your keyboard and click to
           select or unselect statuses.
   •       Use the pull-down menus as necessary to select different time periods for Closed or Expired
           listings.


3. Adding Comparable Listings by MLS Number:

                          To ensure that certain comparable listings appear in your search results, you can enter the
                          MLS number(s) for those listings.

                          The Super CMA will still use the Selected Fields, Status, and Time Period in the search for
                          comparable listings. Listings entered by MLS number will appear at the top of the list of
                          search results.

       Including listings by MLS number can help when the subject property has unusual features or when you know
       you want to include a listing that would not be a match to the Selected Fields. Examples might include a re-
       cently-sold home in your client’s neighborhood that does not match the age or other features of the subject
       property, or a home of the same style (tri-level) in a different market area.


             To begin searching for comparable listings, click the Next
             button to continue.

             Depending on the fields selected, the status and time period, this
             may take a few moments.


4. Manual Search:

       INSTEAD of using the Selected Fields and/or MLS Numbers, you can click the Manual Search button to
       perform a standard InnoVia search for comparable listings.

                                  When you click the Manual Search button (in the lower right corner of the screen)
                                  your screen will change and take you to the InnoVia search screen for the property
                                  type you are working with.

       You can choose from all of the standard criteria selections for your property type search and execute your
       search as you normally do in InnoVia.

       •     Review your search results,
       •     Select the listings you wish to use as comparables in your Super CMA, and then
       •     Click the Use Checked button on the left side of the screen.

       The next screen you see will be your list of comparable properties. ONLY the listings selected from your
       Manual Search results will appear on this list.


                                                              7
Choosing your Comparable Properties




   You will be presented with a list of comparable properties, based on the information entered for your
   Subject Property, the fields/features you selected for the search, and the priority or importance you
   chose for those fields/features.

   The ranking system is based on a 100 point scale where comparables ranked as 100 have the exact
   same values for all of the fields you selected. For each feature that does not match the comparable
   property, points are deducted from 100 at variable rates, depending on the importance or priority you
   placed on each selected field.

   The first four properties are already selected for your CMA because they will have the highest
   “Rank” of the comparables found based on your Selected Fields and field importance. Take note of
   the ranking numbers, however, because there may be additional comparables with an equal ranking.
   Comparable listings with the same rank number are listed in order by the MLS number.

   •   If you would like additional information for any of the comparable properties, click on the
       MLS number to open the Full display for that listing. (Remember, the Full display is for MLS
       members only.) After reviewing the information, use your browser’s Back button to return to the
       list of comparables.

   •   To select a comparable property for your CMA, click to put a check mark in the Include box
       that appears in front of the MLS number of the listing.
       Please note: the check marks you enter in the Include box are not saved until you click the Next
       button at the bottom of the screen.

   •   There is no limit to the number of comparable properties you may use, but the more you select
       the longer your CMA will take to go through the “build” process.


   Click the Next button to continue.

                                                     8
Select CMA Components




   Select the components you would like to include in your CMA presentation.
   • To add a component, highlight the name in the Available Components column and click the
       <<Add button.
   • When you click on a component name, a description of that item will appear below the columns.
   • Note that some components are not editable, but may be previewed after moving them into the
       Selected Components column. (After previewing any document, use your browser’s Back
       button to return to the component screen.)

   After you have selected the components you wish to use, choose the order in which they will appear
   in your CMA presentation:
   • Click on a component name in the Selected Components column and use the Up and Dn
       buttons to move that component up or down the list.

   At this point, you may wish to edit the components for this presentation (see instructions beginning
   on page 10):
   • You must edit the cover letter, resume, testimonials, and marketing plan the first time you
       select them as components. After you have edited these components, they are saved for future
       CMA presentations. (You may re-edit these items at any time.)

   When your components are selected, edited, and in the order in which you would like them to appear
   in your presentation, click the Next button to create InnoVia’s Super CMA.


                 InnoVia will build your CMA
                 presentation.




  Your CMA will appear in PDF format. If, after viewing the finished product, you would like to
  edit any of the contents, just hit the Back button until you reach the desired screen, make any
  changes you wish, and finish out the CMA as you did before.

                                                    9
                          Editing the Super CMA Components:

 Cover Sheet:

    (The cover page for the document.)

         When you choose to edit the cover
         sheet, you have the opportunity to edit
         the document title, client address,
         property location, and your own name.
         This information will be used on the
         Cover Sheet and Cover Letter.


                                                                 You may then choose one of three cover sheet
                                                                 styles. If you have included a picture of the
                                                                 subject property, cover sheet #3 will include that
                                                                 image, as well as your agent photo and company
                                                                 logo (if they are included in InnoVia).

                                                                 Click Next to return to the component list.



 Cover Letter:

     The cover letter must be edited
     and saved at least one time, and
     then the saved version can be used
     for each CMA presentation.

     You may edit the cover letter at
     any time to personalize it. To
     keep the text of your original
     saved cover letter, uncheck the
     “Save As Default” box when mak-
     ing temporary changes for
     use only in the CMA you are
     creating at that time.

     The cover letter will use the client name/address information you entered for the subject property,
     and will use your name as it appears in the MLS.




Table of Contents:        The Table of Contents is automatically generated, and includes all of the
                          components you selected that appear on the Selected Components list after the
                          Table of Contents. The Table of Contents can not be edited or previewed.



                                                       10
Subject Property Flyer: The Subject Property Flyer is automatically generated from the information
                                 included for the subject property. It is similar in appearance to InnoVia’s
                                 Customer display, and includes many of the same fields. The Subject
                                 Property Flyer is not editable.



Marketing Plan:

     The Marketing Plan offers ten category and detail fields
     for the member to complete.

     The Marketing Plan is designed as a bulleted list. To
     create each bulleted line, hit the Enter key after each item.

     The maximum length of each line is 62 characters; the
     maximum length of each detail field is 240 characters.
     (If you exceed the line length, the text will overlap. If you
     exceed the field length, an error message will appear when
     you try to save resulting in a % sign at the end of the text.

     Only the information you enter will appear on the market-
     ing plan; blank fields will not display. The Marketing
     Plan is created by member entry; no sample text is
     included.


Recommended Price:
     The recommended list price used in this component is taken from the Price-Adjusted Comparables
     component. It is suggested that you edit the Price-Adjusted Comparables component first (see page
     13 of this guide) in order to create a recommended price based on adjustment values that are accurate
     for your market.

     Both the text and recommended list price are editable on the Recommended Price component.
                                                                            After editing the Price
                                                                            Adjusted Comparables
                                                                            component, members
                                                                            may wish to edit the
                                                                            recommended list price
                                                                            to a round figure, and
                                                                            personalize the text
                                                                            that appears above and
                                                                            below the price itself.

                                                                                     The Recommended
                                                                                     Price saved in this
                                                                                     component will be
                                                                                     used on the Sellers
                                                                                     Estimated Proceeds
                                                                                     component.



                                                         11
Seller’s Estimated Proceeds:

   The Estimated Proceeds worksheet allows members to estimate equity, deductions, and net proceeds
   from the sale of a property.

   The figure used as the Sale Price is the same figure saved in the Recommended Price component.
   All figures can be edited.




   The fields that appear for calculating equity or deductions are also editable. By using the options made
   available by clicking the Edit Text button, members can edit text and default values, delete current or
   add new equity and deduction categories.



Comparables Flyers:

    The Comparables Flyers are full-page displays of each comparable property used in the CMA. The
    flyer is the same layout as the Subject Property Flyer, and is similar to the InnoVia Customer display.

    The only editing option for the
    Comparables Flyers is whether to
    include a particular comparable
    property, therefore printing a flyer
    for that property.

    All comparable properties selected
    for the CMA will have a flyer
    unless the member chooses to
    exclude it by un-checking the
    selection box.


                                                      12
Price-Adjusted Comparables:

  This worksheet allows members to make standard and custom adjustments to the prices of selected
  comparable properties. The adjustment factors used in this worksheet affect the Recommended
  Price calculation used by the CMA.




  To change an adjustment factor, members can simply type a new figure in the Factor area and then hit
  Enter or Tab on their keyboard. All applicable adjustments will recalculate automatically.

  Members may add or remove MLS fields by clicking the Add/Remove Field button.

  Similar to selecting search fields
  and components, use the <<Add,
  Remove>>, Up and Down buttons
  to select and order the MLS fields
  you wish to use as adjustment
  fields.

  Any fields added will display on
  the Price Adjusted Summary page
  of the CMA.

  Not all fields will include an
  adjustment factor; some simply display the MLS/Subject property information for that field.




                                                    13
  Members may choose to include or exclude individual comparable properties by clicking the Add/Remove
  Comparables button.

                                                                          As with editing the Comparables
                                                                          Flyer, all comparable properties are
                                                                          included in the Price Adjusted
                                                                          Comparables worksheet unless
                                                                          specifically excluded by
                                                                          un-checking the selection box.



   Members may also use the Manual Adjust-
   ments button at the bottom of the adjustments
   worksheet to add or remove their own field
   names for listing attributes not included in the
   MLS.

   (If the field you are planning is already included in the MLS use the Add/Remove Fields option
   instead of Manual Adjustments. See page 13.)


                                                After the Manual Adjustment field is saved, members can
                                                use this field to add or subtract value for the Subject
                                                Property as well as the comparable properties.

                                                Because this field is not included in the MLS data,
                                                members must know whether the comparable properties
                                                include the feature for which the value is being adjusted,
                                                and must know the dollar value (+ or -) for the adjust-
                                                ment.




Picture CMA:

   The Picture CMA includes up to four comparable properties per page, with a photo and MLS data for
   each listing.




   As with editing the Comparables Flyer, all comparable properties are included in the Picture CMA
   unless specifically excluded by un-checking the selection box.



                                                      14
Agent Resume:
                The Agent Resume offers ten category and detail fields
                for the member to complete.

                The Agent Resume is designed as a bulleted list. To
                create each bulleted line, hit the Enter key after each
                item.

                The maximum length of each line is 62 characters; the
                maximum length of each detail field is 240 characters.
                (If you exceed the line length, the text will overlap. If
                you exceed the field length, an error message will appear
                when you try to save resulting in a % sign at the end of
                the text.

                Example: Categories could be designated Employment,
                Education, Honors, Certifications, Interests, etc.

                You may edit the Agent Resume at any time to personal-
                ize it, or to update the information.

                Only the information you enter will appear on the agent
                resume; blank fields will not display. The Agent
                Resume is created by member entry; no sample text
                is included.


Testimonials:


                      Like the Agent Resume and the Marketing
                      Plan, the Testimonials display offers ten
                      category and detail fields for the member to
                      complete.

                      The Testimonials detail fields are, however,
                      designed for paragraphs and not as bulleted
                      lists.

                      You may edit the Testimonials at any time
                      to personalize it, or to update the informa-
                      tion.

                      Only the information you enter will appear
                      on the testimonials component; blank fields
                      will not display. The Testimonials display
                      is created by member entry; no sample
                      text is included.




                 15
CMA Summary:

  The CMA Summary is a simple one-
  liner-report displaying summaries of the
  comparable properties sorted by status.

  As with editing the Comparables Flyers
  and the Picture CMA, all comparable
  properties are included in the CMA
  Summary unless specifically excluded
  by un-checking the selection box.




Remember:
   Each of the 13 components of the CMA may be included or excluded by using the
   <<Add and Remove>> buttons on the CMA Layout screen..




  You can also use the Up and Dn buttons to change the order in which the components
  will display and print. Click to select a component from the Selected Components list,
  and then use Up or Dn to move the component as needed.




                                             16
Sample Pages of each CMA Component as a PDF Document:




   Cover Sheet: Option #1 is pictured above.           Cover Sheet: Option #2 is pictured above.
   This option uses a generic design as a cover        This option uses a generic design, as well as your
   image.                                              Agent Photo (if you have included an Agent
                                                       Photo in InnoVia).




                                                                Cover Sheet: Option #3 is pictured
                                                                to the left.

                                                                This option uses both an Agent Photo
                                                                and your Subject Property photo.

    Subject
    Property
     Photo                                                      All three Cover Sheets include your
                                                                company logo if your Broker has
                                                                added it to InnoVia.




                                                                Agent
                                                                Photo




                                                                 Location of
                                                                Company Logo




                                                  17
    Cover Letter                          Table of Contents


            Subject Property Photo




Subject Property Flyer                      Marketing Plan


                                     18
Recommended Price          Seller’s Estimated Proceeds

                               Subject Property Photo




  Comparables Flyer        Price Adjusted Comparables




                      19
Picture CMA         Agent Resume




Testimonials        CMA Summary



               20

				
DOCUMENT INFO
Description: Wisconsin Comparative Market Analysis document sample