Using Domus Analytics in your CMA processes
The Pricing Insights dashboard is a great tool to assist you with listing your client’s property at the best, most competitive price. While the dashboard is not a substitute for a CMA or an appraisal, it assists you with creating a visual price analysis. Using the dashboard, you can see where your proposed list price falls within the local market.
The dashboard will display 2 black intersecting lines. Where these lines meet is the middle of the market. After adding your filters for Property Type, Region, City/County, Area and Status, enter your Proposed List Price and Total Square Feet for your listing. You will then see 2 blue intersecting lines which represent where your proposed list price falls in relation to the rest of the market. The dots on the chart represent actual listings.
You will see 2 gauges at the right of the chart which will tell you the percentage of current similar listings that are below your Proposed List Price and the percentage of current similar listings that are below your Total Price Per Square Feet. For example, if the gauge to the right of the chart shows 80% for Proposed List Price, that means your proposed list price is higher than 80% of the market. Similarly, if the gauge for Total Price/SqFt shows 80%, that means your dollar/sqft is higher than 80% of the market. You can then make a decision as to what steps to take to bring your proposed list price more in line with what the local market dictates.