CMA – Automatic Adjustments and Customizations

Josh is a Flexmls trainer at FBS.

Your trainer

Josh

Josh joined FBS in 2013 as a member of the CPR team where he enjoys working on conversions, doing member training, and documenting new features in Flexmls. Over the past 12 years he has lived in Texas, Mississippi, Louisiana, and Washington, D.C and North Dakota. Although he recently moved to Texas, Josh considers himself an honorary southerner and enjoys attending anvil shoots, crawfish boils, and using the word y’all with impunity.

This class assumes you already know the basics of running al CMA and will build on that knowledge. We’ll look at creating an automatic adjustment list, saving subject property templates, using the “price per calculation,” and more!

Good afternoon everybody. My name is Josh Hernandez and today we are going to be taking a look at CMAs in Flexmls, focusing almost exclusively on adjustments. And I’ll cover both automatic adjustments as well as manual adjustments and adjustment lists that you can make. Let’s take a look at the topics that we will cover today.

Number one: this is the third class in a series of CMAs, so I’ll show you where you can find some of the previous classes on those CMAs, but we’re going to assume that anybody watching today has a base understanding of how a CMA is created in Flexmls. So while I’ll review that information, I won’t spend a lot of time there.

Instead, I’m going to focus on the adjustments, because in our previous trainings we did a little bit of that, but we’ll go into more of a deep dive today. So we’ll start with the basics of what is an adjustment. I’m going to show you how to make manual adjustments, kind of one at a time.

And there are also adjustment lists, so you can do automatic adjustments or have a list for manual adjustments as well. And I’ll show you how to use those in Flexmls.

With that, let’s start off with the basics before I get into my Flexmls screens. What is an adjustment? And an adjustment is just when you’re creating a CMA, it’s a dollar amount added to or subtracted from the close price for your comparables. And it’s meant to account for the differences between the comp and the subject property.

Ideally, all of the comps that you find would be almost identical to your subject property, but in real life, that’s not something that can always happen. So it might not always be a four bedroom subject property. Maybe you have a comp out there that is really close but it’s got five bedrooms or three bedrooms. And the idea of using the adjustments, number one, it’s one hundred percent optional.

It doesn’t need to be done in Flexmls. You can skip it entirely. However, if you do have the information to make the adjustments, it allows for more accurate suggested list prices for that subject property, because you’re accounting for those differences that there may be between your comp and your actual subject property.

So I kind of put this table here on the screen just to illustrate that, if you’re not familiar with adjustments or just learning how to make adjustments, I have our subject property here, and then comp one, comp two, and comp three. And my subject property has four beds, comp one has three, comp two has four, comp three has five. Now my subject property doesn’t a closed price yet.

That’s what we’re trying to figure out what would we price our list price at for the subject property. And comp one sold for ninety thousand, comp two sold for one hundred, and comp three sold for a hundred and ten. Now I put in numbers that are not realistic. Again, this isn’t real world, but just so you can easily see on screen.

And when we think of are we adjusting, are we adding to the closed price or subtracting for the closed price for comp one, two, and three, I compare what we’re making the adjustment for, in this case number of beds. Comp one has three, the subject property has four.

So if comp one would have had four, and this example I’ll say a bedroom is worth ten thousand, That is not an actual price. Don’t write that down. I’m just using that as an example number. But one bedroom is worth ten thousand dollars that means that sold price would have increased by ten thousand. So then you’ll see the adjusted close price, ninety thousand plus ten, is a hundred.

Comp two, we’re not making any adjustments for because it has the same number of beds as our subject property. They both have four. And comp three has five. So that means if it was actually closer to the subject property, it would have four.

So we’ll subtract that ten thousand dollars, and remember that’s just an example number, and we’ll see the original closed price was a hundred and ten, minus ten, and now these are all adjusted sold price of one hundred thousand dollars. And again, things don’t work out this neat and evenly in the real world.

I just wanted you, if you’re just starting off with adjustments, to get an idea of why you’re making the adjustment. Now I’m going to move on here. I just did an example here for beds. And before we get into Flexmls, just going through some of the fields that are most common to make adjustments on because you’re looking for comps that are similar to your subject, but they may not be perfect matches.

So you’ll see people making adjustments on number of bedrooms, bathrooms, and that might be full bathrooms or half bathrooms or three quarter bathrooms, whatever that is. Square footage, and again, that might be square footage above ground, below ground, finished square footage, different ways. Lot size, how big is that actual property that it’s on.

If there are conditions or upgrades, maybe something has a new roof, you want to take that into account because the subject property’s roof needs to be replaced. Location or view, maybe something sitting on the edge of a lake but your subject property is back a little bit further and doesn’t have that lake view. You can make those adjustments based on location view.

And then last, you’re looking at the close date as well. And this is where people really start getting into the weeds and coming in. You want to find sold listings that are recently sold so it’s reflective of your current market.

And depending on how much that market has fluctuated in the past three months, six months, nine months, year, two years, three years, you can make adjustments based on the date of sale.

Now the one hundred percent most common question I get in every training is, Well what are the adjustments to make for these? So before we get into their Flexmls screens, I just want to be clear: today’s training is not going to be providing you with the actual adjustments, because I do not have that information for your particular market areas. What I’m going to do is show you how to use the tools.

But if you’re looking to get a start on where can I find information on what some of these adjustments could be? Number one, I always recommend starting with your broker. They may have resources already, or they may have resources or connections to lenders that may be willing to share some of their information, or appraisers that are worked with commonly, they work with commonly.

Now the longer you are in the industry and start getting a feel for this, you’ll hear oftentimes people say the adjustments almost as much art in there as science. So again, it’s based on your market, what anything is worth. So I’m not going to give you actual numbers for your market. I’m just going to show you how to use the tools today. And with that, let’s go ahead.

I’m going to exit my full screen And let me just get that large on my screen here. And we’re going to start with manual adjustments in a CMA. Now I’m going to start a CMA and I’m going to kind of rush through the beginning of it because I want to get to the adjustments tab. So I’m just going to take about three minutes and start a CMA.

So whenever I start a CMA in Flexmls, I start on a quick search and I start just looking for comparables that I may want to use for my subject property. So in this example today, I know where my subject property is located. It’s going to be ten sixty one Wildflower Lane in West Fargo. So I’m going to begin a search, and when I’m searching again, make sure that I have the right property type selected.

You may have subdivisions or locations that you want to use to start locating things that are nearby. I’m going to just look up my property on the map. So I’m going to look at the map tools over on the right hand side of the screen, click on the red push pin, and then my locate address box pops up.

So I’m going to type in that ten sixty one Wildflower Lane West, and this is in West Fargo, North Dakota, so I’m going to type in the zip code on that, five eight zero seven eight, and I’ll click on locate.

And what this does, let me just zoom in on my screen a little bit, is it takes that push pin, uses Google Maps to go in, and place the tip of that push pin where Google Maps believes that property is. You can drag and drop the pushpin around if you would like, but when you have the area that you wanted to use and you click use that location, the radius search comes up.

And I’m just going to draw a radius. And again, you might have subdivisions within your MLS that you could search in or neighborhoods if those are fields that your MLS uses. But for this example, I’ll just show you I’ll draw a radius. I’m going to go out one point three miles. The default is one mile. You want to find listings that are nearby.

Again, we’re looking for nearby listings sold recently, and I’ll click create radius. And then I’m going to use my search template over on the left hand side of the screen to type in some of the information and search for listings that are similar to what I know about my subject property. Number one: status.

You can select any statuses you want, but for the purposes of adjustments and trying to find suggested list price for the subject property, we want to always include sold listings. So I’ll select closed. This MLS goes back by default one year when I’m starting. Many MLSs do. You can always adjust those dates if you need.

And so I’m looking at sold listings within one point three miles of that center of the pushpin, and I want to make sure also that I’m getting other relevant information. So I know my subject property has four bedrooms. I could say, Let’s only look for four bedroom listings, or in today’s case, I’m going to make an adjustment based on bedrooms.

So I will come in and say, let’s look at four to five bedrooms. And I’m going to come down and say total baths. I know my subject has three total baths, so maybe I’ll say three to four total baths.

And we can always winnow these things down a little bit and whittle it down, but just to get this moving, I’m gonna say above grade total square foot, my subject property, I looked it up before class today, has two thousand three hundred above grade square foot, and your MLS may have different fields or field names for that, but I’m just going to put in a range.

Since my subject has two thousand three hundred, maybe I’ll do two thousand to two thousand six hundred. So we’re getting things that are close approximately in size. And I could also, depending on what your MLS uses, here they have a subtype under style. I’ll make sure single family stories.

Your MLS may have levels or something like that, so you can always go in and make sure number of garage spaces, whatever it is, start getting those comps as close as possible. Now I’ve got ten listings right here, it says right at the top of my search.

And normally when I demonstrate a CMA, we go through, we look at the list, we compare on the detail, we look at the photos, and we want to select our best comps. Now today I’m going to purposefully kind of select some comps that are a little bit different than, so maybe not the best comps, because I’m gonna make some adjustments.

So I’m going to select this one because it has, I see in this column, four bathrooms. We can do a an adjustment based on bathrooms. As I scroll down here, maybe I’ll grab this one, it has five beds, so I’m going to grab that. And again, I can see looking at these sold prices, they’re kind of all over the place.

I am not going to get necessarily the best comps as I’m finding them today, just because I want there to be differences so we can see when we make an adjustment how that plays out. So I am going to go in and I’ll just grab a total of five listings. I’ve heard some people refer to like a rule of three.

You want at least three comps that are really good comps as close as possible to the subject property. I always demonstrate with five, but some people will do more if you can find more. Of course, more is better because if you can find a lot of listings nearby that were sold recently, that gives you a better idea of what to price your subject property at.

Now I’m going to go up and we’ll just go to the CMA, and I’m going to use that top half, use the ones I’ve selected. I’ve selected five, and I’m going to quickly go through the steps until we get to our adjustment tab. So we’ll click on full CMA Statistical Average field. I can show you, or if you watch other videos you’ll see where that appears at.

Cover page, maybe I’m preparing this for Jeff Frank, and maybe I’m meeting him today. I can keep today’s date. Or if I know I’m going to print this off on Saturday when we meet, I can just print it off on Saturday and use that current date. And then I’ve got my business card.

You can select if you have multiple business cards available in your MLS, or you can type in your name if you want it to appear differently than it appears on the business card. And, of course, comments here as well.

I’m just gonna say, These are the comments on the cover page, just so we see where that’s at. And then I’ll move to my subject tab. With my subject tab, of course, you can type that information in manually. I can change any of these out here that if there are fields that I don’t want to compare.

So maybe I’m going to take off map letter, currency code. I’ve got total bedrooms, total bath, square footage. We’re going to compare those. And if it’s never been on the MLS before, you type in the information manually. Just click in the box, type in whatever that information is. You can also auto populate it from an existing listing. So I’m going to go ahead and do that now.

I’m just going to grab the MLS number because that will be required.

And I’m just gonna come out here, make sure that’s the one that I wanted to use. That’s a sold listing. Closed. I’ll copy that MLS number. And back in my CMA, I’ll just click to auto populate the fields from that previous version of the listing. So I’ll paste in the MLS number and click submit, and then that auto populates from that previous version for me.

If I have the information for lot dimensions, it wasn’t on the previous listing, I can type it in or I can take that off. Same thing with acres, I can take that off if I don’t have that information. We don’t need to compare it. And then I’m going to come to our comps tab. We had selected these from our search, so they’re all five sold listings are there.

And finally, we come to the whole purpose of today’s class, the adjustments. So with the adjustments, I’m going to come out here and we’re gonna first talk about manual adjustments.

So if you just want to make some adjustments on the fly, this screen for adjustments has a top half, and I scroll down, and a bottom half. And the top half displays the subject fields, the fields that were on our subject tab, or all fields are available.

But if I click on one, I’ll just click on bedrooms, for example, I can see my subject has four, and I can see that eleven seventy Drive has five. And so the adjustment is saying, I would like to adjust the sold price for eleven seventy Jill Drive West. And so then that’s where the knowledge of your market is going to be coming into play. What is a bedroom worth in this market?

And again, I’m going to use just my example number of ten thousand. That is not what a bedroom is worth in your market, so don’t write that number down in particular. That’s just my example number to illustrate this. And when I put that number in and move away from adjustments to my summary screen, I am going to see my closed listings at the top.

I’ll see the sold price, and then I’ll see the adjustments, and then the adjusted price. And that will also come into play for the recommendation. It’s using any adjustment, so it’ll use the adjusted sold price. Now, right now, only one listing has adjustments, so it would be using just the adjustments. Everything else for the adjusted price is the same as the actual sold price.

So this is making those adjustments manually on the fly. If you have that information, Some people have been doing this for years and years in their market and they can answer those questions very quickly and know the adjustments that they want to make. So this makes it easy to do that.

Now at the bottom of the screen, I’m going to come down, and I talk about the top half and bottom half, and I’ll go to eleven seventy Jill Drive. And I’ll see, when I select that, I’ll see there is one adjustment that was made. So if I have multiple adjustments on a single listing, they’ll all be listed here.

And as a matter of fact, we’ll actually go in and do that for right now. Let’s see our total baths, beyond some other ones that’ll have that.

So let’s go ahead and talk a little bit, not about those manual adjustments that I think we demonstrated in our last basic CMA class, But now, let’s talk about the adjustment lists. If you have the available data to create adjustments and saying a bedroom is worth this much in this market Square foot, I want to do adjustments based on square foot in this market.

You can use the automatic adjustment list. There is also a manual adjustment list. So I’m gonna do the automatic adjustment list first. And some notes with this: number one, this automatic adjustment list will only be able to use numeric fields.

So if there’s a text field or if there’s a field out there that says Lakeview yesno, it’s not going to be able to make an adjustment based on that field. It’s going to be able to make adjustments on fields like total number of bedrooms, bathrooms, square foot, lot size. Any numeric field, we can set it up in that automatic adjustment list. And then I have this caveat on screen, don’t run the list multiple times.

It’ll accumulate every time you run that. So it’ll make sense here. I’m just going to come back here, and I’m going to come in.

If you have an adjustment list already, you don’t need to do what I’m about to do, but since many people are attending this, learning more about it, I’m gonna go to the bottom half of my screen, and I’m going to select adjustment lists. Here in the adjustment list, I’m just gonna remove this one.

Yours will be blank when you come here and if you’ve never done anything before. So I’m going to say, let’s add a new automatic adjustment. There’s manual adjustments you can create as a list here as well, and I’m gonna come to that in a few moments. But first, let’s cover the automatic adjustments. So click on add new, and then I can say what property type.

Once you select that, then you get those numeric fields that are available within that property type. So as I look at this, I can come in and say baths total and I can put in whatever adjustment I want to make. Now many times people are adjusting based on full baths or half baths. I didn’t put that on my template today.

So this is just saying one bathroom is worth x amount, and I put in that value here. And again, I’m going to put in my default value right now of just ten thousand. Again, that’s not reflective of what it would actually be in your market, but I’m going to click on save.

And I can add as many items as I would like here as well. So I don’t have to just base this on total baths. I can create a long comprehensive list.

Again, maybe I want acres, full baths, half baths, bedrooms, square footage above ground, square footage below ground, whatever it is that we’re going to come in here and create. I’m going to do one for bedrooms here. I’m gonna erase our current adjustment out there, and I’ll just do we’ll just do nine nine nine nine for this so we can see something slightly different than our bathrooms. So we’ll see that, and I’m going to return to the CMN.

Now, I already made an adjustment here manually. If you want to remove adjustments at any point in time, whether it’s an automatic adjustment that we’re about to do or anything that I’ve done manually, just click on remove all adjustments. So right at the bottom of that top half of the screen, remove all adjustments, and you’ll see that gets cleared out.

So now I’m starting from scratch again. Now I’ve got an adjustment list with total baths and bedrooms on it with those numbers that we just entered entered.

To go in and actually apply the adjustments, I’ll click again at the top half of the screen, auto adjust our comparables. And when I click on this, I get a warning. Auto adjusting is going to change the sold price. It’s gonna give it an adjusted sold price. Do you really want to do this? So I’ll click okay. And it tells me four adjustments were made.

And, again, now if I click on bedrooms, I’ll see we had erased that ten thousand for this one previously and replaced it with our automatic one of ninety nine ninety nine. So I see minus ninety nine. It’s adjusting that sold price down because it has one more than the subject. It’s removing that adjustment from our comp here.

So that sold price is trending downward by or me, adjusted downward by ninety nine point nine nine. Total baths, I’m going to be able to see subject has three, these have four. Again, that’s minus on those that have four versus three. If something had five, it would say minus twenty thousand in this example.

And at the bottom of the screen, as I come in and select any of these items, it’s going to show me adjustments that were made for that address. And now some of these have no adjustments, like forty five eleven Sunset. Some have one adjustment on here. And, again, when I go to the summary tab, I’m going to see all of those adjustments reflected here.

That adjustment, if it’s positive or negative, gets added or subtracted from the sold price and provides an adjusted price.

And again, that will come into play over here on our recommendation tab. It takes the average of that high and low and puts in our recommended price right here. Now we’ve got a pretty big range. These were not great comps, but I wanted to get things that were a little different so we can see things happening when we make those adjustments. I’m going to go back to my adjustment screen.

Now I warned you about clicking auto adjust comparables multiple times. If I click this again, it’s going to run through that entire list and it makes four additional adjustments. So I’m just going to click here, our bathrooms, or as we come down here, you’ll be able to see it a little bit better at the bottom.

I can see that it made two adjustments for bathrooms or bedrooms. So it ran through that adjustment list twice and it duplicates. And we don’t want to duplicate things. So for this example, I’m just going to remove all of those adjustments. And again, everything gets blanked out. Now if I want to restart, run that adjustment list, I just click auto adjust comparables.

It takes the list that we’ve already created. And once you create it, you can use it on any CMA that you’re completing. So now we’ll go back, and now it’s only been run once essentially since we removed the adjustments. Now that’s the automatic adjustment list, and it’s only available for numeric fields, and you don’t want to run it multiple times.

Otherwise, it keeps accumulating those adjustments multiple times per listing, which you do not want. But if you paid attention, when we were creating our automatic adjustment list, there was a tab for manual adjustment list. And I just put a note in here. This is really ideal for adjustments on items that are not included as MLS fields.

So again, maybe there’s something like water view that I want to put in, or maybe I know that something just had a new fifty year roof with experimental shingles and solar panels and everything installed, and that’s why it’s sold for more. That might not necessarily be a field that I can select and make an adjustment on. So I can create my own adjustments and have them available in a list to add manually.

And I have a note here about comments. We’ll see the comments when we create the adjustments here.

So as I’m looking at these, I’m gonna come in and what did I want to select? Yeah. Let’s do this one. Forty nine twenty eleventh Street West. So this one already has one adjustment from our automatic adjustment list. Total baths has one more, so it reduced the sold price by ten thousand. For that adjusted price, I can see that here.

If I want to add in a new adjustment, When I click this new adjustment, I’m going to see this option. I can just start typing something in. And so maybe I want to say geothermal heating and just make that adjustment myself. Now I can also I’m gonna take that out. I can also click new adjustment.

And if I click that lookup, it’ll say edit list or I can see any ones that I’ve already created. And that list, it’s the same list that I saw when we clicked on edit the adjustment list and we made the automatic adjustment list. Manual adjustments, that’s the list that it’s referring to. So I put one in here already for solar panels, and I’m just saying solar plant panels in this particular market are worth x amount. And that’s again just an example number.

So if I want to add additional items here, add new. Now it’s not an MLS field. I’m not selecting a field from the MLS, I’m just putting it in here. So maybe I want my geothermal heating, that’s probably one word, and whatever that value happens to be. And again, I’m just putting in an example number just so we can see that. Or I can have additional ones here.

So you can have as many manual adjustments in the list as you would like to use, and maybe I’m going to just put in lake view. In the particular market that I’m in, some have lake views, some don’t have lake views perhaps, and so I like to be able to make that adjustment because I know everything with the lake view sells for more.

And, again, this is where that art versus science comes in, where you can go through and start looking at search results, seeing the ones with the lake view, looking at the closed price, trying to figure that out yourself, or finding resources from your broker. Maybe they’re, like, able to tell you what that is and what it should be.

But, again, I’m just gonna put in that arbitrary number, random number today here. So I’ve got three that I could come in and potentially use.

And then I’m going to click on go back to my CMA.

So now when I come in here actually, let me just load my screen again.

I see the adjustments that are available for geothermal heating, lake view, solar panels. So I can take one of those that wasn’t a field that I’m comparing up at the top, or maybe it’s not a field that’s really available in my MLS, and I can apply it here. Now you will note that it automatically says it’s going to add that amount to the sold price. So it’s adjusting upwards for the sold price.

And in this case, if my subject does not have a lake view, but this one, five thousand four hundred eighty nine Lorie Lane, does have the lake view, then this, always double check. Do you want that added or subtracted for the adjustment? So if this one does have the lake view and it did not, it would have sold for x amount less, so I’ll put that minus sign in manually here.

And you’ll see as I change this, I’m gonna go back and say plus, you’ll see this number is five seventy nine. And if I just come in and change that to a minus, it changes real time on the screen with me. So I can see that adjustment that we’re making. And I see the actual sold price here at the top, and then each time I make an adjustment, it just comes in and adds there.

So and again, I could come into this one and maybe I wanna do that geothermal heating again. So we can make multiple adjustments. And I can come in to any of these other sold listings that we’re using as comparables, and I could just say, well, let’s make an adjustment here.

Again, you can type something in, but if you have the list, the manual list, again, the items in the manual list don’t automatically happen.

You would just pick and choose which one you want to apply. Double check whether that is plus or minus, because, like I said, if this one, forty nine point two zero, has the solar panels, my subject doesn’t. We’ll have to pretend this one doesn’t, so we make that price adjustment downward.

So that is just manually making the adjustments. I can type them in up here or delete them up at the top. I can create my adjustment lists at the bottom, manual or the actual automatic adjustment lists. And when you have the automatic adjustment lists, it’s just right in the center of the screen to auto adjust the comparables.

And if you’re doing this and just playing around right now and you want to get rid of everything, all those adjustments that you made as you’re trying this out, you can just remove all adjustments by clicking that, and it will take all of those adjustments out. Now, where do these adjustments end up displaying?

So I’m just going to move here to our Finish tab. So this has all of the different areas where we’ll see where those adjustments are reflected. So there’s a statistical summary information. That’s the summary screen right here. I’m just gonna click and we’ll say let’s view our CMA.

So we’ve got that CMA.

And as I scroll down, I am going to see that in the actual summary page. So here’s our summary of sold listings. I’ll see all the adjustments, the total adjustments, sold price, plus or minus those adjustments for that, and then the adjusted price. So I’ll see it here in that summary page for our sold listings. Gonna whoops gonna come back.

And our list price recommendation, that is based off of our adjusted sold price. So when we look on our recommendation page, it’s taking the high, the low, and basically averaging everything together and giving us a recommended list price.

I could also say based on our average here, let’s recommend a low list price and high list price based off a percentage above or below the recommended price. So I’ll just do that. So it’ll take our average of five seventy nine. Our low recommended then becomes five sixty five, high five ninety four, actual.

And remember, those are not hard coded numbers, so you can always come in and make them look a little bit nicer and neater so they’re not just those weird random calculating numbers. So I’m going to see that on the recommended price. And you see that recommended, page in your CMA as well.

And then we’ll also see it in our side by side comparison of listings, the list price recommendation, basic it’s based off that adjusted sold price, so we just saw both of those, and the listing detail reports. Now actually, let me come back here. I’m gonna close this because I forgot to point out one thing on our adjustment tab.

And that is when I come in and I look at the bottom for all the summary information for adjustments on any particular listing, there is a section for comments. And I’m just gonna type in, these are the adjustment comments. So I want to show you where that appears because I will sometimes get that question, where do those comments appear? I don’t see that when I’m looking at things.

So now I’ll go back to my finish tab and we’ll just click view again.

So those comments, as I come down and start looking at things, I will see any adjustments in our side by side comparison. So in the side by side, if you’ve attended any of the other classes, I emphasize that the subject property, no matter how many rows I have, will always display in the left hand side so they don’t have to flip back a page to see how something compares to the subject.

But I will also see those adjustments that were made. So I see fifty four eighty nine Lori Lane, minus ten thousand here, minus nine ninety nine for our lake view, minus nine ninety nine for our geothermal heating, and then our adjusted price here. So I see all of the adjustments in that side by side comparison.

As I’m scrolling down, we see that adjusted sold price in our summary of the sold listings. You see that here.

And, again, our recommendation, that’s based off of the adjusted sold prices that we’re using. And finally, I am going to see those adjustments on our listing detail options. I opted to include the comps that I used in the listing detail report.

So in this section, I can say let’s include the adjustment summary for each listing, and I can also say which report, So which MLS report. Your MLS may have different report names than what I’m showing here, but that’s just the listing detail report. Public version or private version. So I can include that for Jeff as I present that to him.

And back here, when I’m actually looking at this, I’m gonna type in the word comments, control f, and I just wanna show you, as I’m looking at the listing detail report, and to come back down on this one, I’m going to say it will always include the standard disclaimer that your MLS uses, but it also includes the comments that you typed in on the adjustments that’s just listed directly after the disclaimer at the bottom of the listing report.

So if you’re wondering where that section says comments, it’s only going to display on the listing report for whichever listings I type that in for. Right now I’ve got that at four thousand five hundred eleven Sunset Boulevard. But if I wanted different comments here on four thousand nine hundred twenty eleventh Street, I can type in different comments.

And that just displays, excuse me, on the actual listing report for that particular listing. So those comments are whatever for whatever listing I select in that drop down list, that’s where those comments will appear on that listing report.

And, again, if I want to save the CMA, I can do that from the Finish tab. Before that, you saw there was a save icon right at the top here. I could email it, print it off, put it in as part of my presentation for Jeff.

But that is a little bit more we’ll just call this Jeff Frank, and I’ll put in a little bit on the address, ten sixty one, just so when I look at that saved CMA name, I can pull it out of a list and know which one is which at a glance by just seeing who it’s for and the address. You don’t have to name your CMAs like that. I always just do to make it easier for me to recognize things.

But that concludes what I had wanted to talk about today. Just a little bit more detail since whenever we present a CMA class, we always kind of show you how to make an adjustment, but don’t go into details on some of the tools that you can use from the automatic adjustment list, the manual adjustment list, or just manually going in and making adjustments one by one yourself without using any of those lists.

So covering those three things that you can use to customize and create better CMAs. If you are interested in seeing any of the previous classes, maybe you jumped into this one and it’s the deep end of the pool, remember inside Flexmls, you can always click on Help in the upper right corner, go out to the Flexmls Academy, and just look at the recorded trainings in the menu at the top of the screen.

Here’s the Flexmls Fundamentals CMA that we did a few weeks ago, the three minute CMA that we did a week or so before that. So there’s kind of a series here, but you can get to any of those previously recorded trainings here as well. Thank you so much, and have a great rest of your day.

Josh is a Flexmls trainer at FBS.

Josh

Josh joined FBS in 2013 as a member of the CPR team where he enjoys working on conversions, doing member training, and documenting new features in Flexmls. Over the past 12 years he has lived in Texas, Mississippi, Louisiana, and Washington, D.C and North Dakota. Although he recently moved to Texas, Josh considers himself an honorary southerner and enjoys attending anvil shoots, crawfish boils, and using the word y’all with impunity.

This class assumes you already know the basics of running al CMA and will build on that knowledge. We’ll look at creating an automatic adjustment list, saving subject property templates, using the “price per calculation,” and more!

Good afternoon everybody. My name is Josh Hernandez and today we are going to be taking a look at CMAs in Flexmls, focusing almost exclusively on adjustments. And I’ll cover both automatic adjustments as well as manual adjustments and adjustment lists that you can make. Let’s take a look at the topics that we will cover today.

Number one: this is the third class in a series of CMAs, so I’ll show you where you can find some of the previous classes on those CMAs, but we’re going to assume that anybody watching today has a base understanding of how a CMA is created in Flexmls. So while I’ll review that information, I won’t spend a lot of time there.

Instead, I’m going to focus on the adjustments, because in our previous trainings we did a little bit of that, but we’ll go into more of a deep dive today. So we’ll start with the basics of what is an adjustment. I’m going to show you how to make manual adjustments, kind of one at a time.

And there are also adjustment lists, so you can do automatic adjustments or have a list for manual adjustments as well. And I’ll show you how to use those in Flexmls.

With that, let’s start off with the basics before I get into my Flexmls screens. What is an adjustment? And an adjustment is just when you’re creating a CMA, it’s a dollar amount added to or subtracted from the close price for your comparables. And it’s meant to account for the differences between the comp and the subject property.

Ideally, all of the comps that you find would be almost identical to your subject property, but in real life, that’s not something that can always happen. So it might not always be a four bedroom subject property. Maybe you have a comp out there that is really close but it’s got five bedrooms or three bedrooms. And the idea of using the adjustments, number one, it’s one hundred percent optional.

It doesn’t need to be done in Flexmls. You can skip it entirely. However, if you do have the information to make the adjustments, it allows for more accurate suggested list prices for that subject property, because you’re accounting for those differences that there may be between your comp and your actual subject property.

So I kind of put this table here on the screen just to illustrate that, if you’re not familiar with adjustments or just learning how to make adjustments, I have our subject property here, and then comp one, comp two, and comp three. And my subject property has four beds, comp one has three, comp two has four, comp three has five. Now my subject property doesn’t a closed price yet.

That’s what we’re trying to figure out what would we price our list price at for the subject property. And comp one sold for ninety thousand, comp two sold for one hundred, and comp three sold for a hundred and ten. Now I put in numbers that are not realistic. Again, this isn’t real world, but just so you can easily see on screen.

And when we think of are we adjusting, are we adding to the closed price or subtracting for the closed price for comp one, two, and three, I compare what we’re making the adjustment for, in this case number of beds. Comp one has three, the subject property has four.

So if comp one would have had four, and this example I’ll say a bedroom is worth ten thousand, That is not an actual price. Don’t write that down. I’m just using that as an example number. But one bedroom is worth ten thousand dollars that means that sold price would have increased by ten thousand. So then you’ll see the adjusted close price, ninety thousand plus ten, is a hundred.

Comp two, we’re not making any adjustments for because it has the same number of beds as our subject property. They both have four. And comp three has five. So that means if it was actually closer to the subject property, it would have four.

So we’ll subtract that ten thousand dollars, and remember that’s just an example number, and we’ll see the original closed price was a hundred and ten, minus ten, and now these are all adjusted sold price of one hundred thousand dollars. And again, things don’t work out this neat and evenly in the real world.

I just wanted you, if you’re just starting off with adjustments, to get an idea of why you’re making the adjustment. Now I’m going to move on here. I just did an example here for beds. And before we get into Flexmls, just going through some of the fields that are most common to make adjustments on because you’re looking for comps that are similar to your subject, but they may not be perfect matches.

So you’ll see people making adjustments on number of bedrooms, bathrooms, and that might be full bathrooms or half bathrooms or three quarter bathrooms, whatever that is. Square footage, and again, that might be square footage above ground, below ground, finished square footage, different ways. Lot size, how big is that actual property that it’s on.

If there are conditions or upgrades, maybe something has a new roof, you want to take that into account because the subject property’s roof needs to be replaced. Location or view, maybe something sitting on the edge of a lake but your subject property is back a little bit further and doesn’t have that lake view. You can make those adjustments based on location view.

And then last, you’re looking at the close date as well. And this is where people really start getting into the weeds and coming in. You want to find sold listings that are recently sold so it’s reflective of your current market.

And depending on how much that market has fluctuated in the past three months, six months, nine months, year, two years, three years, you can make adjustments based on the date of sale.

Now the one hundred percent most common question I get in every training is, Well what are the adjustments to make for these? So before we get into their Flexmls screens, I just want to be clear: today’s training is not going to be providing you with the actual adjustments, because I do not have that information for your particular market areas. What I’m going to do is show you how to use the tools.

But if you’re looking to get a start on where can I find information on what some of these adjustments could be? Number one, I always recommend starting with your broker. They may have resources already, or they may have resources or connections to lenders that may be willing to share some of their information, or appraisers that are worked with commonly, they work with commonly.

Now the longer you are in the industry and start getting a feel for this, you’ll hear oftentimes people say the adjustments almost as much art in there as science. So again, it’s based on your market, what anything is worth. So I’m not going to give you actual numbers for your market. I’m just going to show you how to use the tools today. And with that, let’s go ahead.

I’m going to exit my full screen And let me just get that large on my screen here. And we’re going to start with manual adjustments in a CMA. Now I’m going to start a CMA and I’m going to kind of rush through the beginning of it because I want to get to the adjustments tab. So I’m just going to take about three minutes and start a CMA.

So whenever I start a CMA in Flexmls, I start on a quick search and I start just looking for comparables that I may want to use for my subject property. So in this example today, I know where my subject property is located. It’s going to be ten sixty one Wildflower Lane in West Fargo. So I’m going to begin a search, and when I’m searching again, make sure that I have the right property type selected.

You may have subdivisions or locations that you want to use to start locating things that are nearby. I’m going to just look up my property on the map. So I’m going to look at the map tools over on the right hand side of the screen, click on the red push pin, and then my locate address box pops up.

So I’m going to type in that ten sixty one Wildflower Lane West, and this is in West Fargo, North Dakota, so I’m going to type in the zip code on that, five eight zero seven eight, and I’ll click on locate.

And what this does, let me just zoom in on my screen a little bit, is it takes that push pin, uses Google Maps to go in, and place the tip of that push pin where Google Maps believes that property is. You can drag and drop the pushpin around if you would like, but when you have the area that you wanted to use and you click use that location, the radius search comes up.

And I’m just going to draw a radius. And again, you might have subdivisions within your MLS that you could search in or neighborhoods if those are fields that your MLS uses. But for this example, I’ll just show you I’ll draw a radius. I’m going to go out one point three miles. The default is one mile. You want to find listings that are nearby.

Again, we’re looking for nearby listings sold recently, and I’ll click create radius. And then I’m going to use my search template over on the left hand side of the screen to type in some of the information and search for listings that are similar to what I know about my subject property. Number one: status.

You can select any statuses you want, but for the purposes of adjustments and trying to find suggested list price for the subject property, we want to always include sold listings. So I’ll select closed. This MLS goes back by default one year when I’m starting. Many MLSs do. You can always adjust those dates if you need.

And so I’m looking at sold listings within one point three miles of that center of the pushpin, and I want to make sure also that I’m getting other relevant information. So I know my subject property has four bedrooms. I could say, Let’s only look for four bedroom listings, or in today’s case, I’m going to make an adjustment based on bedrooms.

So I will come in and say, let’s look at four to five bedrooms. And I’m going to come down and say total baths. I know my subject has three total baths, so maybe I’ll say three to four total baths.

And we can always winnow these things down a little bit and whittle it down, but just to get this moving, I’m gonna say above grade total square foot, my subject property, I looked it up before class today, has two thousand three hundred above grade square foot, and your MLS may have different fields or field names for that, but I’m just going to put in a range.

Since my subject has two thousand three hundred, maybe I’ll do two thousand to two thousand six hundred. So we’re getting things that are close approximately in size. And I could also, depending on what your MLS uses, here they have a subtype under style. I’ll make sure single family stories.

Your MLS may have levels or something like that, so you can always go in and make sure number of garage spaces, whatever it is, start getting those comps as close as possible. Now I’ve got ten listings right here, it says right at the top of my search.

And normally when I demonstrate a CMA, we go through, we look at the list, we compare on the detail, we look at the photos, and we want to select our best comps. Now today I’m going to purposefully kind of select some comps that are a little bit different than, so maybe not the best comps, because I’m gonna make some adjustments.

So I’m going to select this one because it has, I see in this column, four bathrooms. We can do a an adjustment based on bathrooms. As I scroll down here, maybe I’ll grab this one, it has five beds, so I’m going to grab that. And again, I can see looking at these sold prices, they’re kind of all over the place.

I am not going to get necessarily the best comps as I’m finding them today, just because I want there to be differences so we can see when we make an adjustment how that plays out. So I am going to go in and I’ll just grab a total of five listings. I’ve heard some people refer to like a rule of three.

You want at least three comps that are really good comps as close as possible to the subject property. I always demonstrate with five, but some people will do more if you can find more. Of course, more is better because if you can find a lot of listings nearby that were sold recently, that gives you a better idea of what to price your subject property at.

Now I’m going to go up and we’ll just go to the CMA, and I’m going to use that top half, use the ones I’ve selected. I’ve selected five, and I’m going to quickly go through the steps until we get to our adjustment tab. So we’ll click on full CMA Statistical Average field. I can show you, or if you watch other videos you’ll see where that appears at.

Cover page, maybe I’m preparing this for Jeff Frank, and maybe I’m meeting him today. I can keep today’s date. Or if I know I’m going to print this off on Saturday when we meet, I can just print it off on Saturday and use that current date. And then I’ve got my business card.

You can select if you have multiple business cards available in your MLS, or you can type in your name if you want it to appear differently than it appears on the business card. And, of course, comments here as well.

I’m just gonna say, These are the comments on the cover page, just so we see where that’s at. And then I’ll move to my subject tab. With my subject tab, of course, you can type that information in manually. I can change any of these out here that if there are fields that I don’t want to compare.

So maybe I’m going to take off map letter, currency code. I’ve got total bedrooms, total bath, square footage. We’re going to compare those. And if it’s never been on the MLS before, you type in the information manually. Just click in the box, type in whatever that information is. You can also auto populate it from an existing listing. So I’m going to go ahead and do that now.

I’m just going to grab the MLS number because that will be required.

And I’m just gonna come out here, make sure that’s the one that I wanted to use. That’s a sold listing. Closed. I’ll copy that MLS number. And back in my CMA, I’ll just click to auto populate the fields from that previous version of the listing. So I’ll paste in the MLS number and click submit, and then that auto populates from that previous version for me.

If I have the information for lot dimensions, it wasn’t on the previous listing, I can type it in or I can take that off. Same thing with acres, I can take that off if I don’t have that information. We don’t need to compare it. And then I’m going to come to our comps tab. We had selected these from our search, so they’re all five sold listings are there.

And finally, we come to the whole purpose of today’s class, the adjustments. So with the adjustments, I’m going to come out here and we’re gonna first talk about manual adjustments.

So if you just want to make some adjustments on the fly, this screen for adjustments has a top half, and I scroll down, and a bottom half. And the top half displays the subject fields, the fields that were on our subject tab, or all fields are available.

But if I click on one, I’ll just click on bedrooms, for example, I can see my subject has four, and I can see that eleven seventy Drive has five. And so the adjustment is saying, I would like to adjust the sold price for eleven seventy Jill Drive West. And so then that’s where the knowledge of your market is going to be coming into play. What is a bedroom worth in this market?

And again, I’m going to use just my example number of ten thousand. That is not what a bedroom is worth in your market, so don’t write that number down in particular. That’s just my example number to illustrate this. And when I put that number in and move away from adjustments to my summary screen, I am going to see my closed listings at the top.

I’ll see the sold price, and then I’ll see the adjustments, and then the adjusted price. And that will also come into play for the recommendation. It’s using any adjustment, so it’ll use the adjusted sold price. Now, right now, only one listing has adjustments, so it would be using just the adjustments. Everything else for the adjusted price is the same as the actual sold price.

So this is making those adjustments manually on the fly. If you have that information, Some people have been doing this for years and years in their market and they can answer those questions very quickly and know the adjustments that they want to make. So this makes it easy to do that.

Now at the bottom of the screen, I’m going to come down, and I talk about the top half and bottom half, and I’ll go to eleven seventy Jill Drive. And I’ll see, when I select that, I’ll see there is one adjustment that was made. So if I have multiple adjustments on a single listing, they’ll all be listed here.

And as a matter of fact, we’ll actually go in and do that for right now. Let’s see our total baths, beyond some other ones that’ll have that.

So let’s go ahead and talk a little bit, not about those manual adjustments that I think we demonstrated in our last basic CMA class, But now, let’s talk about the adjustment lists. If you have the available data to create adjustments and saying a bedroom is worth this much in this market Square foot, I want to do adjustments based on square foot in this market.

You can use the automatic adjustment list. There is also a manual adjustment list. So I’m gonna do the automatic adjustment list first. And some notes with this: number one, this automatic adjustment list will only be able to use numeric fields.

So if there’s a text field or if there’s a field out there that says Lakeview yesno, it’s not going to be able to make an adjustment based on that field. It’s going to be able to make adjustments on fields like total number of bedrooms, bathrooms, square foot, lot size. Any numeric field, we can set it up in that automatic adjustment list. And then I have this caveat on screen, don’t run the list multiple times.

It’ll accumulate every time you run that. So it’ll make sense here. I’m just going to come back here, and I’m going to come in.

If you have an adjustment list already, you don’t need to do what I’m about to do, but since many people are attending this, learning more about it, I’m gonna go to the bottom half of my screen, and I’m going to select adjustment lists. Here in the adjustment list, I’m just gonna remove this one.

Yours will be blank when you come here and if you’ve never done anything before. So I’m going to say, let’s add a new automatic adjustment. There’s manual adjustments you can create as a list here as well, and I’m gonna come to that in a few moments. But first, let’s cover the automatic adjustments. So click on add new, and then I can say what property type.

Once you select that, then you get those numeric fields that are available within that property type. So as I look at this, I can come in and say baths total and I can put in whatever adjustment I want to make. Now many times people are adjusting based on full baths or half baths. I didn’t put that on my template today.

So this is just saying one bathroom is worth x amount, and I put in that value here. And again, I’m going to put in my default value right now of just ten thousand. Again, that’s not reflective of what it would actually be in your market, but I’m going to click on save.

And I can add as many items as I would like here as well. So I don’t have to just base this on total baths. I can create a long comprehensive list.

Again, maybe I want acres, full baths, half baths, bedrooms, square footage above ground, square footage below ground, whatever it is that we’re going to come in here and create. I’m going to do one for bedrooms here. I’m gonna erase our current adjustment out there, and I’ll just do we’ll just do nine nine nine nine for this so we can see something slightly different than our bathrooms. So we’ll see that, and I’m going to return to the CMN.

Now, I already made an adjustment here manually. If you want to remove adjustments at any point in time, whether it’s an automatic adjustment that we’re about to do or anything that I’ve done manually, just click on remove all adjustments. So right at the bottom of that top half of the screen, remove all adjustments, and you’ll see that gets cleared out.

So now I’m starting from scratch again. Now I’ve got an adjustment list with total baths and bedrooms on it with those numbers that we just entered entered.

To go in and actually apply the adjustments, I’ll click again at the top half of the screen, auto adjust our comparables. And when I click on this, I get a warning. Auto adjusting is going to change the sold price. It’s gonna give it an adjusted sold price. Do you really want to do this? So I’ll click okay. And it tells me four adjustments were made.

And, again, now if I click on bedrooms, I’ll see we had erased that ten thousand for this one previously and replaced it with our automatic one of ninety nine ninety nine. So I see minus ninety nine. It’s adjusting that sold price down because it has one more than the subject. It’s removing that adjustment from our comp here.

So that sold price is trending downward by or me, adjusted downward by ninety nine point nine nine. Total baths, I’m going to be able to see subject has three, these have four. Again, that’s minus on those that have four versus three. If something had five, it would say minus twenty thousand in this example.

And at the bottom of the screen, as I come in and select any of these items, it’s going to show me adjustments that were made for that address. And now some of these have no adjustments, like forty five eleven Sunset. Some have one adjustment on here. And, again, when I go to the summary tab, I’m going to see all of those adjustments reflected here.

That adjustment, if it’s positive or negative, gets added or subtracted from the sold price and provides an adjusted price.

And again, that will come into play over here on our recommendation tab. It takes the average of that high and low and puts in our recommended price right here. Now we’ve got a pretty big range. These were not great comps, but I wanted to get things that were a little different so we can see things happening when we make those adjustments. I’m going to go back to my adjustment screen.

Now I warned you about clicking auto adjust comparables multiple times. If I click this again, it’s going to run through that entire list and it makes four additional adjustments. So I’m just going to click here, our bathrooms, or as we come down here, you’ll be able to see it a little bit better at the bottom.

I can see that it made two adjustments for bathrooms or bedrooms. So it ran through that adjustment list twice and it duplicates. And we don’t want to duplicate things. So for this example, I’m just going to remove all of those adjustments. And again, everything gets blanked out. Now if I want to restart, run that adjustment list, I just click auto adjust comparables.

It takes the list that we’ve already created. And once you create it, you can use it on any CMA that you’re completing. So now we’ll go back, and now it’s only been run once essentially since we removed the adjustments. Now that’s the automatic adjustment list, and it’s only available for numeric fields, and you don’t want to run it multiple times.

Otherwise, it keeps accumulating those adjustments multiple times per listing, which you do not want. But if you paid attention, when we were creating our automatic adjustment list, there was a tab for manual adjustment list. And I just put a note in here. This is really ideal for adjustments on items that are not included as MLS fields.

So again, maybe there’s something like water view that I want to put in, or maybe I know that something just had a new fifty year roof with experimental shingles and solar panels and everything installed, and that’s why it’s sold for more. That might not necessarily be a field that I can select and make an adjustment on. So I can create my own adjustments and have them available in a list to add manually.

And I have a note here about comments. We’ll see the comments when we create the adjustments here.

So as I’m looking at these, I’m gonna come in and what did I want to select? Yeah. Let’s do this one. Forty nine twenty eleventh Street West. So this one already has one adjustment from our automatic adjustment list. Total baths has one more, so it reduced the sold price by ten thousand. For that adjusted price, I can see that here.

If I want to add in a new adjustment, When I click this new adjustment, I’m going to see this option. I can just start typing something in. And so maybe I want to say geothermal heating and just make that adjustment myself. Now I can also I’m gonna take that out. I can also click new adjustment.

And if I click that lookup, it’ll say edit list or I can see any ones that I’ve already created. And that list, it’s the same list that I saw when we clicked on edit the adjustment list and we made the automatic adjustment list. Manual adjustments, that’s the list that it’s referring to. So I put one in here already for solar panels, and I’m just saying solar plant panels in this particular market are worth x amount. And that’s again just an example number.

So if I want to add additional items here, add new. Now it’s not an MLS field. I’m not selecting a field from the MLS, I’m just putting it in here. So maybe I want my geothermal heating, that’s probably one word, and whatever that value happens to be. And again, I’m just putting in an example number just so we can see that. Or I can have additional ones here.

So you can have as many manual adjustments in the list as you would like to use, and maybe I’m going to just put in lake view. In the particular market that I’m in, some have lake views, some don’t have lake views perhaps, and so I like to be able to make that adjustment because I know everything with the lake view sells for more.

And, again, this is where that art versus science comes in, where you can go through and start looking at search results, seeing the ones with the lake view, looking at the closed price, trying to figure that out yourself, or finding resources from your broker. Maybe they’re, like, able to tell you what that is and what it should be.

But, again, I’m just gonna put in that arbitrary number, random number today here. So I’ve got three that I could come in and potentially use.

And then I’m going to click on go back to my CMA.

So now when I come in here actually, let me just load my screen again.

I see the adjustments that are available for geothermal heating, lake view, solar panels. So I can take one of those that wasn’t a field that I’m comparing up at the top, or maybe it’s not a field that’s really available in my MLS, and I can apply it here. Now you will note that it automatically says it’s going to add that amount to the sold price. So it’s adjusting upwards for the sold price.

And in this case, if my subject does not have a lake view, but this one, five thousand four hundred eighty nine Lorie Lane, does have the lake view, then this, always double check. Do you want that added or subtracted for the adjustment? So if this one does have the lake view and it did not, it would have sold for x amount less, so I’ll put that minus sign in manually here.

And you’ll see as I change this, I’m gonna go back and say plus, you’ll see this number is five seventy nine. And if I just come in and change that to a minus, it changes real time on the screen with me. So I can see that adjustment that we’re making. And I see the actual sold price here at the top, and then each time I make an adjustment, it just comes in and adds there.

So and again, I could come into this one and maybe I wanna do that geothermal heating again. So we can make multiple adjustments. And I can come in to any of these other sold listings that we’re using as comparables, and I could just say, well, let’s make an adjustment here.

Again, you can type something in, but if you have the list, the manual list, again, the items in the manual list don’t automatically happen.

You would just pick and choose which one you want to apply. Double check whether that is plus or minus, because, like I said, if this one, forty nine point two zero, has the solar panels, my subject doesn’t. We’ll have to pretend this one doesn’t, so we make that price adjustment downward.

So that is just manually making the adjustments. I can type them in up here or delete them up at the top. I can create my adjustment lists at the bottom, manual or the actual automatic adjustment lists. And when you have the automatic adjustment lists, it’s just right in the center of the screen to auto adjust the comparables.

And if you’re doing this and just playing around right now and you want to get rid of everything, all those adjustments that you made as you’re trying this out, you can just remove all adjustments by clicking that, and it will take all of those adjustments out. Now, where do these adjustments end up displaying?

So I’m just going to move here to our Finish tab. So this has all of the different areas where we’ll see where those adjustments are reflected. So there’s a statistical summary information. That’s the summary screen right here. I’m just gonna click and we’ll say let’s view our CMA.

So we’ve got that CMA.

And as I scroll down, I am going to see that in the actual summary page. So here’s our summary of sold listings. I’ll see all the adjustments, the total adjustments, sold price, plus or minus those adjustments for that, and then the adjusted price. So I’ll see it here in that summary page for our sold listings. Gonna whoops gonna come back.

And our list price recommendation, that is based off of our adjusted sold price. So when we look on our recommendation page, it’s taking the high, the low, and basically averaging everything together and giving us a recommended list price.

I could also say based on our average here, let’s recommend a low list price and high list price based off a percentage above or below the recommended price. So I’ll just do that. So it’ll take our average of five seventy nine. Our low recommended then becomes five sixty five, high five ninety four, actual.

And remember, those are not hard coded numbers, so you can always come in and make them look a little bit nicer and neater so they’re not just those weird random calculating numbers. So I’m going to see that on the recommended price. And you see that recommended, page in your CMA as well.

And then we’ll also see it in our side by side comparison of listings, the list price recommendation, basic it’s based off that adjusted sold price, so we just saw both of those, and the listing detail reports. Now actually, let me come back here. I’m gonna close this because I forgot to point out one thing on our adjustment tab.

And that is when I come in and I look at the bottom for all the summary information for adjustments on any particular listing, there is a section for comments. And I’m just gonna type in, these are the adjustment comments. So I want to show you where that appears because I will sometimes get that question, where do those comments appear? I don’t see that when I’m looking at things.

So now I’ll go back to my finish tab and we’ll just click view again.

So those comments, as I come down and start looking at things, I will see any adjustments in our side by side comparison. So in the side by side, if you’ve attended any of the other classes, I emphasize that the subject property, no matter how many rows I have, will always display in the left hand side so they don’t have to flip back a page to see how something compares to the subject.

But I will also see those adjustments that were made. So I see fifty four eighty nine Lori Lane, minus ten thousand here, minus nine ninety nine for our lake view, minus nine ninety nine for our geothermal heating, and then our adjusted price here. So I see all of the adjustments in that side by side comparison.

As I’m scrolling down, we see that adjusted sold price in our summary of the sold listings. You see that here.

And, again, our recommendation, that’s based off of the adjusted sold prices that we’re using. And finally, I am going to see those adjustments on our listing detail options. I opted to include the comps that I used in the listing detail report.

So in this section, I can say let’s include the adjustment summary for each listing, and I can also say which report, So which MLS report. Your MLS may have different report names than what I’m showing here, but that’s just the listing detail report. Public version or private version. So I can include that for Jeff as I present that to him.

And back here, when I’m actually looking at this, I’m gonna type in the word comments, control f, and I just wanna show you, as I’m looking at the listing detail report, and to come back down on this one, I’m going to say it will always include the standard disclaimer that your MLS uses, but it also includes the comments that you typed in on the adjustments that’s just listed directly after the disclaimer at the bottom of the listing report.

So if you’re wondering where that section says comments, it’s only going to display on the listing report for whichever listings I type that in for. Right now I’ve got that at four thousand five hundred eleven Sunset Boulevard. But if I wanted different comments here on four thousand nine hundred twenty eleventh Street, I can type in different comments.

And that just displays, excuse me, on the actual listing report for that particular listing. So those comments are whatever for whatever listing I select in that drop down list, that’s where those comments will appear on that listing report.

And, again, if I want to save the CMA, I can do that from the Finish tab. Before that, you saw there was a save icon right at the top here. I could email it, print it off, put it in as part of my presentation for Jeff.

But that is a little bit more we’ll just call this Jeff Frank, and I’ll put in a little bit on the address, ten sixty one, just so when I look at that saved CMA name, I can pull it out of a list and know which one is which at a glance by just seeing who it’s for and the address. You don’t have to name your CMAs like that. I always just do to make it easier for me to recognize things.

But that concludes what I had wanted to talk about today. Just a little bit more detail since whenever we present a CMA class, we always kind of show you how to make an adjustment, but don’t go into details on some of the tools that you can use from the automatic adjustment list, the manual adjustment list, or just manually going in and making adjustments one by one yourself without using any of those lists.

So covering those three things that you can use to customize and create better CMAs. If you are interested in seeing any of the previous classes, maybe you jumped into this one and it’s the deep end of the pool, remember inside Flexmls, you can always click on Help in the upper right corner, go out to the Flexmls Academy, and just look at the recorded trainings in the menu at the top of the screen.

Here’s the Flexmls Fundamentals CMA that we did a few weeks ago, the three minute CMA that we did a week or so before that. So there’s kind of a series here, but you can get to any of those previously recorded trainings here as well. Thank you so much, and have a great rest of your day.

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