InnoVia’s “Super CMAâ€‌ - January 2011 Page 1...

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Transcript of InnoVia’s “Super CMAâ€‌ - January 2011 Page 1...

  • Updated January 2011 Page 1 of 21

    The Opening Screen of the Super CMA

    The opening screen of the Super CMA includes: A list of all of the Subject Properties saved under this login Buttons to create and manage new Subject Properties A Delete option to remove unneeded Subject Properties

    Follow the instructions in this training manual to create a new Subject Property and work with the various components to create your own Super CMA presentation.

    InnoVias Super CMA Create a comparative market analysis presentation, using up to 14 different components, and save it as a PDF file. This training guide is a supplement to RANW MLSs instructor-led training course. Find course dates and times at www.ranw.org and contact RANW to reserve your space in class.

  • Updated January 2011 Page 2 of 21

    Enter a New Subject Property:

    Click the NEW button. Choose the Property Type for this CMA. Available property types are: Residential, Duplex, Multi-Family (3+ Units) and Vacant Land. No CMA option is available in InnoVia for Business, Industrial, Commercial properties.

    The next screen to appear should be completed with information about the Subject Property. This screen mimics an MLS data sheet, however NOT ALL INFORMATION needs to be completed. Much of the information is used only for display purposes, and only appears on the Subject Property Flyer which members may or may not choose to include. (Unless all fields are completed, the Subject Property Flyer is not attractive.) Fields that MUST be completed are: Seller Name/#, Area, Street Number, Street Name, City/State, and Zip.

    Recommended additional fields are any that may need to be used in a direct comparision between the Subject Property and compa-rable listings: # Bedrooms, # Bathrooms, all Finished Square Footage fields. The Subject Property Informa-tion screen can be re-edited to add, remove, or change informa-tion at any time during the CMA process.

  • Updated January 2011 Page 3 of 21

    Save Early, Save Often..

    As Subject Property information is entered, members can save the partially completed information and then continue editing and entering information. This is a recommended procedure if more than the basic data (required fields plus bedrooms/bathrooms/square footage) is being entered. Saving and editing helps to prevent losing ALL information entered if a members hits the time out limit, as well as issues with incorrectly inputted data (often room dimensions and levels) causing an error.

    At the bottom of the Subject Property information screen, click the Save Listing button. The FIRST TIME the Subject Property information is saved, a TEXT screen will appear. The text included will appear on the Cover Sheet of the CMA presenta-tion if a cover sheet component is used. This text can be edited at this time, or edited during the selection of the Cover Sheet component. If the Subject Property information is edited, this text screen will not appear upon subsequent saves. Click the Next button to complete the process and be returned to the opening CMA screen.

    To continue editing the Subject Property, click the Edit Listing button. The Subject Information entry screen will reappear, with all previously entered data included. Edit the information as needed, and click the Save Listing button to save any new/changed infor-mation.

  • Updated January 2011 Page 4 of 21

    Add A Photo of the Subject Property

    One cover sheet option includes a photo of the Subject Property IF the member has uploaded one. Using this cover sheet is recommended. If a member does not have ac-cess to a photo of the property, the company logo can be used instead.

    Uploading a photo for the Subject Property uses the same process and specifications as any other listing photo (JPG only, under 2Mb in size). Click the Browse button Navigate to wherever you have the photo

    file saved and select it Save the photo to the CMA program An option to upload another photo will appear BUT there are no displays in the Super CMA that show more than one property photo, so uploading additional photos is unnecessary. The photo will be immediately view-able in the CMA on any screen or component that uses an image for the Subject Property.

    When finished entering Subject Property information, click the Next button to begin the process of searching for comparable listings.

  • Updated January 2011 Page 5 of 21

    The Search for Comparable Listings:

    For the easiest, most reliable search ONLY use the MANUAL SEARCH option.

    The Manual Search will take you to the normal InnoVia search screen for the property type you chose when setting up your CMA. You can use the normal search criteria fields and get the most reli-able search results possible. When you execute the normal search, your search results will be limited to only those listings that exactly match the criteria you have entered. As such, any or all of the resulting listings could be a good match and be used in the CMA.

    When you execute the normal search and are satisfied with the number of listings returned (usually no more than a dozen or two depending on the crite-ria used) - DO NOT worry about reviewing the listings in the search results! On the left side of the results screen, click to put a check mark in the Select All box. Click the Use Checked button This will take ALL of the listings and pull them into the CMA to be reviewed and selected.

  • Updated January 2011 Page 6 of 21

    Review and Select your Comparables

    Benefits to pulling ALL resulting listings into the CMA program: When you click on the MLS number, it brings up the Confidential Full display (not the

    Customer display) which contains all available information about the listings. If you find later in the process that you have chosen poorly and want to change one or more

    of the comp properties you selected, you will not have to do a completely new search and lose all of the information youve entered. You can simply return to this screen, unselect a chosen comp, select another, and then click the Next button to get back to the Components screen.

    Review the listings: Basic information appears on the Oneliner display (see above) Clicking the MLS number link will open the Confidential Full display for that listing where members

    will find all available information regarding the listings. Select the Comp Properties to use in the CMA: The checkmark in the Select box indicates which listings will be used in the CMA. Click to select or

    unselect any individual listings. MLS recommends that members print the Confidential Full display for any listing(s) chosen as a

    comp property. This will assist you if/when completing the Price Adjusted Comparables component. Click the Next button at the bottom of the screen to save your selections and advance to the Components screen.

  • Updated January 2011 Page 7 of 21

    Components of the Super CMA

    There are 14 different components that can be chosen as part of any individual Super CMA. Members can choose which components they wish to include within each separate CMA . Some components have default text, but can be edited by members: Cover Sheet, Cover Letter. Some components are simply displays or reports based on listing data: Subject Property Flyer, CMA Summary, Graphical Analysis, Picture CMA, Comparables Flyers. Some components begin as blank documents and are created by members: Agent Resume, Testimoni-als, Marketing Plan. Three components deal with property valuations and monetary figures: Price Adjusted Comparables, Recommended Price, Sellers Estimated Proceeds. IF USED, these three components should be edited in a specific order (instructions follow). The Table of Contents does not exist until the Super CMA presentation is created. The Table of Con-tents component will then list and number the pages for the components that follow it in the list of Se-lected Components. Selected Components are those that will be used in the CMA presentation. Members can add and delete components from the Selected Components column by clicking the indi-vidual component and then clicking Add or Remove as needed. The order of the components within the presentation is set by adding components to this column and then using the Up and Down buttons to re-order them as needed. TO EDIT ANY COMPONENT: Move the component to the Selected Components column, click on it to highlight it, and then click the Edit button on the left side of the screen.

  • Updated January 2011 Page 8 of 21

    The Money Components: 1. Price Adjusted Comparables 2. Recommended Price 3. Sellers Estimated Proceeds

    The point of a comparative market analysis is to determine the market value of a property based on com-paring it to recently sold properties that are substantially the same in type, location, size, detail, etc. No mat-ter what type of property you are working with, there will be differences between the Subject Property and the Comp Properties that affect the value and that should be accounted for. Within the Super CMA, the Price Adjusted Comparables component is the worksheet that assists a mem-ber in accounting for these differences. The value of the Subject Property determined in the Price Adjusted Comparables will flow into the Recommended Price component. If the value is edited in the Recom-mended Price component (to round off a price, to use a price range, etc.) then that edited value will flow into the Sellers Estimated Proceeds component. Thus, these three components should be edited in a specific order. NOTE: Adjustment factors and values are not provided by the MLS or the InnoVia program. RANW MLS recommends that members speak with their company b