A CMA is a powerful tool that is used by many real estate agents to ensure an equitable sale. But even more than that, agents can integrate real estate CMAs into their marketing strategies to supercharge campaigns, get more leads, and win more business.
This article offers four suggestions agents can use to leverage the power of a CMA to get better results from their marketing efforts.
How to use a CMA to enhance your marketing campaigns
Below, we take a look at a few different ways to use a comparative market analysis as part of your digital marketing campaign.
1. Discuss important details in your campaigns
A CMA can prove beneficial to your digital marketing campaigns in a number of ways. For example, you can create a static website, host a webinar, record a podcast episode, or create other digital content that highlights the details of a CMA most important to your audience.
Such details can include:
- An assessment of the quality of the neighborhood
- An assessment of the original listing (if available)
- Property value estimates from large home-listing sites
- Evaluations of homes with the same number of bedrooms and baths
- Evaluations of homes that have sold or been listed in the past six months
. . . and so on.
As you can see from the image above, your first step is to gather as much information as you can about the subject property.
Here are some data points you might consider including in your research:
- Location (street, neighborhood, county, etc.)
- Total square footage
- Acreage (if privately owned)
- Number of bathrooms and bedrooms
- The year the home was built
- Major changes or renovations since the last time it was sold
- Any interior finishes of note
- Swimming pool, barn, or any other extraordinary features
- Current taxes paid/millage rate
2. Share content across email and social media
Developing your CMA expertise for curating neighborhood information and property valuations is an effective way to grow your sphere of influence in the industry, and channels like email, social media, and others will help you showcase that expertise more effectively. There are a significant number of real estate micro-influencers to collaborate with as well.
Not only can you use a CMA to power up your social media campaigns, you can also use it as a way to prospect and stay connected with potential clients so you can maintain client loyalty.
Creative agents have also developed ways to streamline and automate their email and social media outreach strategy in order to generate more leads with less effort.
3. Transform content into infographics and other visuals
Another way to make fast connections and engage prospects while cutting variable costs associated with content creation is to transform CMAs into impactful infographics and other graphic-based media that you can easily cross-share across multiple platforms.
Infographics use both text and images to give users a cool way to visualize your information. This makes your marketing more interesting and memorable.
On social media, you’ll be able to stop users in their tracks with appealing visuals that are more powerful than words or imagery alone.
By cross-sharing these visuals on different platforms, you’ll generate a consistent flow of leads for your real estate business while developing trust and building a community around your brand.
Pro Tip: Create CMA videos to add value to homeowners
With more and more people consuming video every day, this is arguably one of the best ways you can use to provide immense value to homeowners right now. It will also help boost your pipeline because once you create a listing opportunity, it will likely be followed by a buyer-side opportunity.
How do you create CMA videos? Provide an updated analysis of their home, but instead of doing it the traditional way with a printed copy, rather do a screen recording of yourself creating an explainer video of the updated evaluation.
You can then email this to the seller, past clients, contacts you’ve met through your marketing activities, or anyone who has told you they’re interested in selling in the future.
4. Sell CMAs
CMA results can also be compiled and sold in reports to create a lucrative revenue stream for real estate agents who are already doing this work for their own needs.
As long as you can create accurate pricing structures on your listings, you’ll be able to present it to your sellers with confidence and get paid for your work.
Another thing to consider is creating courses to teach others how to create, use, and strategically share their own CMAs. There are dozens of online course platforms you can use to help you build, monetize, and share these courses.
This produces a lucrative passive income stream, and it also differentiates your real estate brand from others in your area.
Instead of selling property or land like everyone else with a real estate license, you can distinguish yourself by also offering educational content that humanizes your brand and helps make you stand out as a real estate subject matter expert in your sales area and beyond.
The take away
A CMA is necessary for situations where you want to get a more accurate sense of a home’s value in advance of a listing appointment.
With a CMA on hand, you’ll be able to answer any questions a prospect may have about a home’s market value. It’s also great to have a CMA when finding a good deal for a buyer, particularly if you’re working in an unfamiliar area.
But, best of all, you can use a CMA to enhance your digital marketing campaigns and bring in more revenue for your real estate business.
Ron Stefanski is a website entrepreneur and marketing professor who has a passion for helping people create and market their own online business. You can learn more from him by visiting OneHourProfessor.com.