Key 2.2 Produce CMAs for buyers as well as vendors
John Duncan MBA BCA Licensed Real Estate Salesperson (REAA 2008)
If you can provide a vendor-approved CMA for buyers using selected similar properties you should do so, but a list of recent sales in the area of properties with a similar number of bedrooms should always be made available. The range of properties in a CMA for buyers should include recent sales of properties similar in size, age, and location but the range of selling prices could be wider than you would use for a vendor CMA.
CMAs for buyers illustrated with recent sales give them the confidence to bid and equally importantly, enable them to defend their bid level among family and friends who have a different view of the market.
Experience will demonstrate that buyers buy properties on emotion and then justify with logic. The buyer CMA you provide should be designed to reinforce that logic. It will also be a point of difference for you as a salesperson and will allow you to more readily market properties without a price.
Tip: Use the save arrow to keep a copy of your buyer CMA in a listing's Media folder.