The results of the second annual Best Practices for CMAs and Listing Presentations Survey are in—and a lot has changed since 2020! After a brief pause in the market in April-May 2020, we’ve seen one of the hottest markets ever...with markets hitting close to a 19% yearly appreciation rate in late 2021. With market trends, the continued strain of a pandemic, and seller interest at an all-time high, how real estate professionals approach CMAs and listing presentations has changed as well.
With Cloud CMA being real estate’s leading report generating tool for over 10 years, the idea for the first edition of the Best Practices for CMAs and Listing Presentations Survey was born. The main goal was to get a better understanding of real estate professionals' best practices for CMAs and listing presentations, to continually provide updates and enhancements that meet their needs—now and in the future.
Last year’s results gave us a benchmark to start with, and now 2021’s results are all the more interesting. As expected, the Covid-19 pandemic and low inventory market forced real estate professionals to shift their focus—which will be evident in this year’s findings.
This year, nearly 5,000 real estate professionals completed the survey—a 49% increase over 2020. We asked questions from how real estate professionals find their comps to putting together a CMA report, to their behaviors at a listing presentation. This year we also asked how the pandemic has changed their business—like if they plan to deliver a virtual listing presentation in the next 6 months.
What’s changed from last year
As you’ll see in more detail in the full report, there were some stark differences from 2020’s results.
To name a few:
The use of expired listings as comps in a CMA is down 16%
The number of agents who include a suggested list price in their CMAs grew by 11.7%
Fewer agents are including Zestimates in their CMA reports this year
To see the full results as well as what this all means for your business as we continue to look forward, download the full Best Practices for CMAs and Listing Presentations Survey report here.