CMA – What’s It All Mean?

By Diane Ives

MRIS, May 5, 2008-CMA (competitive market analysis) is covered in the Matrix class offered in both Hands On and Virtual Classroom Settings. This week looks at the associated terminology. Next week we’ll discuss the mechanics of completing a CMA using Matrix.

CMA Glossary

AppReg - Application registered. Listing status indicating the property is available but a rental application has been registered.

Advertised Subdivision – This is the “known as” name for the subdivision. It may be edited by the listing agent.

CKO - Contingent with kick out. This listing status indicates the property is available but has a ratified contract with a least one pending contingency. One of the contingencies must include a kick out clause.

CMA - Competitive Market Analysis – a study of local market activity that looks at similar properties in multiple statuses for the purpose of assisting buyers or sellers (or prospective buyers or sellers) in deciding a listing or offering price range.

CMA Search Screen - allows you to set up a default to use when completing a CMA. The CMA Search Screen sorts the results by two items, status and close date.

CMA Button - After you have selected properties click the CMA Button to continue with your CMA. The CMA button is unavailable if more than 100 properties are chosen.

CNKO - Contingent with no kick out. Listing status indicating the property is available but has a ratified contract with at least one pending contingency; none of the pending contingencies include a kick out clause.

Comp Purposes Only – A yes/no answer when entering a listing in Keystone. If this is a listing, leave the answer as NO (the default). If you have sold a property that was not listed in MRIS it may be entered in Keystone as a Comparable (after the property has settled). In this case, change the NO to YES and continue to input the information, click submit.

DOMM - Days on Market – MLS# – Number of days the property (as identified by the MLS#) has been on the market.

DOMP - Days on Market – Property – a cumulative number of days the property has been on the market (as identified by tax ID). This may reflect multiple MLS#’s or Agents. DOMP will reset to 0 (zero) after a sale or if the property remains off the market for more than 90 days.

Expired - Listing status indicating that the listing end date (specified in the listing agreement) has passed.

Legal/Recorded Subdivision - The recorded Legal subdivision name for the property. It may be different from the advertised or commonly known subdivision/neighborhood name. Auto-filled from the tax records if available.

Seller Subsidy - Closing cost credit from the seller to the purchaser, paid at settlement.

SOLD - A status that indicates property is sold and settled.

Subject Property - the property being evaluated.

On www.mris.com, there are several places to find definitions of terms, (1) Public Records Data Dictionary and (2) Profile Sheet Definitions. On the left side of the screen, hover over “Products and Services,” on the submenu, move the cursor over “Public Records”, click (1) “Public Records Data Dictionary.” On the top right corner of the MRIS.com screen, click in the Orange Box on the “Advanced Search” link. There you will find a bulleted list of items. One of the bulleted items is (2) Profile Sheet Definitions.
Another bulleted link, “Style of Home” will take you to Realtor® Online Magazine. Look in the top right corner of this page for the “search site” field. Enter the words, “real estate glossary”, click search. Find the link “Learn the Lingo: Glossary of Industry Terms.” This helpful resource will provide many definitions of real estate related terms.

Diane Ives, CRB, CRS is an MRIS Instructor.

Real Estate Hot Topics

Profit Center: Real Estate Tips, Training & Events

RISMedia Solutions

RISMedia on the Go

Today's Featured Listing