Real Estate Marketing – Stop Offering A CMA | Comparative Market Analysis
Real estate marketing is stuck in the seventies I swear! For the love of pete, please, please, please stop offering a CMA as your big free offer! There are so many other things you can give as lead magnets or offers!
What Is A CMA?
Because things are called differently around the world, a CMA is a “Comparative Market Analysis”.
This is where you show the recent selling price, square feet, number of bedrooms, condition and other metrics of similar sold property in a neighborhood or town (depending on the size of the populations).
Because of CMA software, it is super easy for a real estate professional to pull that info and put their prospect on a “drip email campaign” to automatically send that every now and then from most MLSs.
So why I am so hateful about CMAs?
The Top 5 Reasons You Should NOT Offer A Comprehensive CMA As Your Free Giveaway 1. All Real Estate Agents Are Giving CMAs
I have talked with HUNDREDS of agents and the first thing that pops out of their mouth when I ask them what their free offer is, (said all chirpy), “a free CMA”.
If EVERYONE is giving something away for free, it has no value!
2. “CMA” Is Industry Jargon
What if I told you, “Sign up for my stuff and you can have a free PDQ!” Said in a chirpy voice or not, you probably have NO idea what that is because I just made it up.
Many homeowners do not know what CMA stands for and so you are just spinning your wheels. They are not going to say they don’t know, they are just going to be confused and confused people don’t sign contracts.
Even worse, they do ask and you start talking about subject property and comparable homes and their eyes glaze over.
Remember that they are only selling their home on average every 6 years and so they DO want to know about the local market, they just don’t need a vocabulary lesson to get it!
3. There Are So Many Valuable Things You Could Give Them
Real Estate Marketing has moved on! There are scads of things that you could give them like:
- Moving guide
- Free relocation guide
- “Thanks for listing with me” pack of coupons from local moving companies, handy men and organizers
- Brochure about how to get their home ready to sell
I KNOW, it is easy to do a CMA for them, that is why you are offering it. If your offer is easy and everyone is doing it, it has no value!
If you have to give a CMA away, why not call it something that people actually want like:
- Spy On Your Neighbors, Find Out What Their Homes Are Worth
- Get Monthly Updates On What The Homes In Your Neighborhood Sold For Last Month
- How Much Could You Sell For TODAY? Your Home May Be Worth More (or Less) Thank You Think!
All of those are something that homeowners might actually care about! You have to know that they cannot extrapolate your acronym (CMA) to what it actually does.
5. It Is Lame
Offering a CMA makes you look boring and sad. With just a few of the agents in your marketplace offering something better, your little “Get A Free CMA” offer looks worse than doing nothing at all!
Now, I am not saying you have spend a fortune or have a fancy gimmick (one of my favorite examples is the agent in Florida who has separated himself from the competition by planting a flat of flowers around his sign posts to make them look less icky on the high end properties he lists).
With a good portion of the population thinking that agents are akin to used car salesmen (there are almost 3 MILLION results when you search “used car salesmen realtors”), hearing “get a free CMA!” sounds just like “nobody beats a dealing doug deal, nobody!”
I LOVE Real Estate Agents, Heck I WAS An Agent
Now this may sound a bit harsh but I am just telling you for your own good!
My besty is a real estate agent and it is what I tell her, another besty is an agent too, same song and dance.
Having a powerful message and offer that you can explain to potential clients is vital. Getting prospective sellers onto your real estate marketing list is vital.
Looking like all the other agents out there is the LAST thing you should do! Stop following the pack, stop offering a Free CMA and start doing REAL MARKETING!
ADDITIONAL RESOURCES FOR REAL ESTATE AGENTS
- Check out all my Real Estate articles! – https://marketingartfully.com/category/realtor-marketing/
- Get 100 Free Marketing Ideas for real estate agents – http://100freemarketingideas.com
- All my best worksheets & planners for real estate agents –
https://marketingartfully.myshopify.com/collections/realtors - Listing Agent Marketing Membership Site – http://reagentmastermind.com
The post Real Estate Marketing – Stop Offering A CMA | Comparative Market Analysis appeared first on Marketing Artfully.
Source: https://marketingartfully.com/realtor-marketing-stop-offering-a-cma-comparative-market-analysis/
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