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2 Ways a CMA Can Generate Leads

April 20 2012

Give me one moment, and I'll get to the lead generation. First, I think a brief definition of CMA will be helpful. A CMA is a competitive market analysis. It provides information about recent sales, homes currently for sale, and other data about a specific geographical area. When used in a listing presentation, your CMA will combine this data with your pricing recommendation and your strategy for selling the home.

Okay, okay, you want leads. Let's get to it.

1. Use a CMA to encourage repeat business.
Let's say you helped Mr. and Mrs. Smith purchase a home last year. On the anniversary of that transaction, prepare a CMA for the home that they purchased. You don't need to put a price on their home for this CMA. Instead, you can allow the prior sales and homes currently listed to demonstrate the price spectrum in the neighborhood.

Mail (or email) this CMA to Mr. and Mrs. Smith with a heartfelt note. Use the data in your CRM to remind you about the specifics of the clients and the transaction. Provide specific details to show that you remember them.

This will remind Mr. and Mrs. Smith about you and, if they're thinking about buying or selling, may earn you their repeat business. If the CMA is favorable, it may even inspire them to consider listing their home. If this year isn't "the time," you can send your CMA again next year (and the year after that, etc. etc. etc.).

2. Use a CMA as a prospecting tool.
Hopefully you have lead capture forms on your website. If you don't, set those up first. Then, when someone enters their address into one of your lead capture forms, create a CMA for their home.

This may also help when you're doing some door-knocking. Prepare a CMA for some homes in a neighborhood where you're already helping someone buy or sell a home. Then, knock on some doors and say something along the lines of, "I'm working with someone on a property down the street from you. In doing research on the neighborhood, I created this report. Would you like to see the details on your home and your local real estate market?"

Once again, including a price estimate or selling strategy isn't necessary here. Those can come later, when the grateful prospect has asked you to help them list their home.

Choosing a CMA
You have a variety of options for CMAs. Check out a full list in our product directory. If you're having trouble finding a solution that's the best fit for you, please contact us and we'll help.

Have you found a way to generate business with a CMA? Have either of these techniques worked for you? Share your experience in the comments section below.