Every agent could use more listings. In fact, many agents pay up to $45 a month for software that provides Comparative Market Analysis reports (CMAs) just to attract more seller leads. But what if you could easily create CMAs for no extra cost? Today, we’ll explore how you can save money on CMAs while attracting more seller leads.
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How Do CMAs Fit Into a Lead Generation Strategy?
We often talk about attracting new leads in marketing. In other words, we offer something our target clients are likely to find valuable to draw them in. Then we can move them to the next stage of the sales process. So if we want more sellers, we need to have something they want.
Look at sites like Zillow, and you’ll quickly realize that people want information about their homes’ values. That’s where the CMA comes in. We provide value by estimating their home value, and then our leads start thinking about the possibilities. For instance, what if we could cash in on our home’s value? Or what if we could downsize and simplify our life? What if we were able to upgrade to a nicer home? In turn, these thoughts can move potential leads towards ultimately listing their home.
In short, your CMA jumpstarts a conversation with people who are in the ideal state of mind for listing.
How Do I Get a Free CMA For a Potential Seller?
Lots of companies try to sell agents on software that will generate CMAs, but most agents don’t realize that they can easily create CMAs for free. As a member of the National Association of Realtors® (NAR), you have free access to the Realtors Property Resource (RPR) app. The RPR can create a seller’s report in just a couple of minutes. Here’s how.
Generating a Seller Report in RPR
- First, log in to your RPR account: https://www.narrpr.com/. RPR can also be accessed as an app on Android and iOS devices.
- Next, click the ‘Reports’ tab. You can find this in the upper right-hand corner on desktop devices.
- Enter the seller’s address.
- Then select the Report Type. For a basic CMA, you can use the seller’s report.
- After choosing the type of report, select the elements you want to include in your report. Remember, you’re trying to start a conversation so don’t overwhelm the client with too much information. Save the comprehensive 85-page report for your impressive listing presentation! Instead, we suggest sending a report that’s approximately 6-10 pages long, with only the most relevant information like:
- Subject Property Summary (including listing price, estimated value changes, and comp analysis result
- Your comps
- Market Activity: Active Listings
- Market Activity: Recently Sold
- You can also include custom pages like your biography or customer testimonials by attaching PDF files to the beginning or end of the report. These can be saved for reuse on other CMAs to save time, too. Simply click “Manage Custom Pages,” and upload your PDF file.
- Finish up your CMA with a tailored message inviting your lead to get in touch for a listing presentation. Now you’re ready to send!
- Last of all, enter the recipient’s e-mail and click “Run Report.”
How Do I Get People to Request Their CMA?
A free home valuation can be a powerful tool for attracting new listings, but you also need a strategy for making people aware of this service. Otherwise, they will default to using familiar tools like Zillow’s Zestimate to get their home values.
This is where advertising comes into play. By placing advertising in the places potential leads frequently visit, you build awareness of your free service. Usually, social media and search engine advertising offer the best combination of large audiences and low prices, but you still need a place that you can send the people who click on your ads.
Services like Home Value Leads Tool provide great value here. This service gives you a landing page that automatically captures their contact info when they request a home value report, so you can easily follow up. Even better, a whole year of this tool costs the same as one month of other CMA tools.
Using Your Home Value Leads Landing Page in Ads
When setting up ads on popular sites like Facebook or Google, you’ll need a web address (URL) to send the people who click your ads. The Home Value Leads Tool creates a web page perfect for moving people down your leads pipeline. If you already know how to set up internet ads, simply use this URL when creating your ad.
If you have never used internet ads, Facebook’s post boosting offers an easy way to get started. The Home Value Leads Tool automatically creates posts on your Facebook business page to encourage your followers to request a CMA. Then you can easily turn this into an ad by visiting your Facebook page and clicking “Boost Post” and following the prompts.
If you don’t feel comfortable setting up ads or you don’t have the time, you can always hire a marketing professional to launch and maintain campaigns for you. For instance, the Turnkey Suite service includes the Home Value Leads tool plus an account manager who can set up Facebook ads for you (your ad budget is included in the cost).
The Bottom Line
As a real estate agent, you have enough costs eating into your profit margins, so why spend money where you don’t need to? By combining the free reports available in RPR with the Home Value Leads Tool, you could save almost $500 every year. That’s money you could be investing in reaching more leads and growing your business.
Home ASAP is not affiliated with or endorsed by Realtors Property Resource® or the National Association of Realtors. This information is provided solely for your convenience, and Home ASAP does not guarantee the accuracy of any information provided by RPR. Trademarks are owned by their respective holders.
Meet the Author
Jonathan earned his Masters in Mass Communications from the University of Florida. He specializes in online communications and web design. When he’s not developing marketing strategies, he enjoys hiking and playing the guitar.