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Table of Contents
Comparative Market Analysis for sale and rent
Once the due diligence process has been completed and the property passes DD checks you will move on to creating the CMA reports and the ARI Cashflow sheet.
These reports outline crucial information about the region, the suburb, the street, the property itself from a research and due diligence perspective. Following this up with the analysis of sales and rental market pricing and a cash flow analysis for now and into the future to understand what this property looks like in the big picture.
All of this information and the different reports allows for the client to make an informed decision and feel comfortable and confident in our recommendation.
First up, personalising your CoreLogic account
This guide provides a clear step-by-step process for setting up your CoreLogic RP Data templates for both Comparative Market Analysis (CMA) and Rental CMA reports. Once completed, the system will automatically use this template for future reports.
Here’s Nikita to walk you through how to do it:
Here’s the steps from the video:
1. Log in to CoreLogic RP Data
Use your individual username and password to log in, see below:
South Australia PAAs - Please use Nick's login below:
Queensland PAAs - Please use Mehul's login below:
Victoria PAAs - Please use Caleb's login below:
New South Wales & Western Australia PAAs - Please use Sam's login below:
Important Notes
- Arjun’s login is NOT to be used
- If you experience any login issues or conflicts, please email [helpdesk@investorkit.com.au]
- When sharing passwords with each other it is important we do this in a secure manner using 1Password, reach out to me if you need assistance with this.
2. Search for Any Address
- Enter any address in the search bar to access the system.
- This step is just to navigate to the required options.
3. Open the CMA Section
- Click on the CMA option at the top of the screen to begin setting up the template.
4. Proceed Through the Standard Steps
- Add comparable sales and comparable listings as you normally would.
- Once you reach the Customize Report section, proceed to edit the details.
5. Edit Report Details
Click on Edit Details:
- Update the following fields:
- Agent Name: Replace your name with Arjun Paliwal.
- Agency Name: Enter InvestorKit.
- Address: Use the company address: 81-83 Campbell Street, Surry Hills, NSW 2010.
- Mobile Number: Replace with Arjun’s = 0481 129 806
- Email Address: Replace with arjun@investorkit.com.au
Remove Unnecessary Fields:
- Untick the landline field.
Double-Check:
- Ensure all details are correct before saving.
6. Save the Updated Template
Once all the edits are completed:
- Click Save to confirm the changes.
- The system will now remember these details for future reports.
7. Add the InvestorKit Logo
Edit Image:
- Click on Edit Image and then Add Image.
- Upload the InvestorKit logo.
Position the Logo:
- Drag the logo to the center of the page.
Save Changes:
- Click Save to finalize the logo placement.
8. Untick the Profile Blurb
- Ensure the profile blurb option is unticked each time you create a report.
9. Repeat for Rental CMA
After completing the setup for the Comparative Market Analysis (CMA):
- Repeat the same process for the Rental CMA.
10. Final Review
Double-check the following are included for both CMA and Rental CMA templates:
- InvestorKit logo.
- Arjun Paliwal’s details:
- Name
- Agency
- Address (81-83 Campbell Street, Surry Hills, NSW 2010)
- Mobile Number
- Email Address.
Ensure no profile blurb is applied.
Final Note
- Once these steps are completed, the template will auto-populate for all future reports.
- If assistance is needed, reach out for support.
Next is, the correct formatting for the CMA report
The same data could share 2 different stories based off how it is presented. Making sure we have all the correct information in the right order with the right commentary is crucial to providing accurate pricing.
Watch AJ running through how to format your CMA report
Here’s the correct formatting in text below:
1. Setting Up CoreLogic and Navigating Reports
Access CMA Reports:
- Log in to CoreLogic and select the property you want to analyse.
- Go to the CMA Report section and click "Create Report".
Select Comparable Properties:
- Choose at least three comparable properties for your report.
- Ensure they are relevant in terms of bedroom count, land size, property type, and recent sale dates.
Ensure Notes Are Displayed:
- Tick the Notes Box: Before proceeding, tick the "Notes" checkbox for every selected comparable property to ensure your commentary appears in the downloaded report.
- Without this, your detailed input will not show in the final report.
2. Reviewing Comparable Sales and Listings
Comparable Sales:
- Review the already sold properties and ensure they align with your property’s features.
- Prioritise sales within the last 3 months to reflect current market trends.
Comparable Listings:
- Skip this section unless necessary. Listings only reflect asking prices, which may not align with market reality.
- If you include listings, note that they are speculative and not as reliable as sold properties.
Focus on Accuracy:
- Avoid selecting properties with very high days on market as they may indicate overpricing or lack of demand.
- Ensure land sizes are within a ±50 sqm range to maintain consistency.
3. Customising the Report
Cover Page:
- Remove Introductions:
- If the report auto-populates with “Introducing [Name],” untick the checkbox to remove it.
- Alternatively, rename it with your own name or relevant title.
- Ensure the address of the target property is clearly displayed.
Map Section:
- Adjust Zoom Levels:
- Zoom in or out on the map to highlight the closest comparable properties.
- This visually supports your narrative by showing proximity and relevance.
Feature Comparables:
- Manage Photo Layouts:
- Untick the “Feature Comparable” box unless you want one property to stand out.
- Keeping all photos equally sized ensures a clean and professional layout.
- Adjust Main Photo:
- Select the most relevant photo for each property (e.g., house front for overall comparison, kitchen if focusing on renovations).
Input Valuation Range:
- Manually input your valuation range based on the comparables.
- Avoid using the default values CoreLogic might auto-fill.
Rental Report Adjustments:
- If creating a rental report, delete sale price ranges and replace them with rental pricing.
- CoreLogic may accidentally copy the sale range into the rental report, so ensure this is updated.
4. Downloading and Presenting the Report
Finalise Edits:
- Review the customisation page for any last-minute tweaks to:
- Notes visibility.
- Selected photos.
- Comparable property order (e.g., highest to lowest value).
Download the PDF:
- Save the report to your computer for easy sharing or printing.
Prepare for Presentation:
- Highlight key points such as:
- The most comparable property and why it was chosen.
- Your reasoning behind the valuation range.
- Any standout features or renovations that justify your conclusions.
5. Tips for Streamlined Reporting
Photos and Commentary Alignment:
- Use photos that align with your notes to create a cohesive narrative (e.g., a superior kitchen photo when mentioning renovations).
Standard Photo Defaults:
- For efficiency, default to the house front photo unless specific features are central to your commentary.
Consistency Across Reports:
- Follow the same structure for all reports to maintain professionalism and efficiency.
Notes Are Critical:
- Always double-check that the “Notes” box is ticked. Your commentary adds significant value to the report.
6. Troubleshooting Common Issues
Formatting Issues:
- If text or photo sizes appear inconsistent, ensure you’ve unticked the “Feature Comparable” option.
- Adjust the map or photo layouts for a balanced presentation.
Text Size:
- CoreLogic does not allow direct font size changes. If text appears small on your device, check your display settings or use a larger screen.
Missing Comparables:
- If comparable properties don’t appear as expected, ensure you’ve selected the correct filters (e.g., sold properties vs listings).
Cheat Sheet and Tips
Don’t you love it when the complex is made simple. Welcome to the cheat sheet and tips. This is a break down of what you need to know, what it means and provide the most accurate pricing reports.
AJ running through our CMA Cheat Sheet and some final tips:
Here’s the list below:
Exterior:
- Type of car space: lockup garage (single/double) or carport.
- Facade: rendered or standard brick.
- Street appeal and building materials.
For example: When comparing two properties, one may have a car port and the other a lock up garage
Kitchen:
- Bench top condition: upgraded or standard.
- Flooring and lighting: modern or dated.
- Layout and size.
For example: When comparing two properties, one may have all new appliances and one may be old
Bathroom:
- Flooring, lighting, and fixtures.
- Size and overall condition.
For example: When comparing two properties, one may have a bath shower and small and one may have seperate bath and shower that has been recently renovated.
Bedrooms:
- Air conditioning, fans, or neither.
- Flooring: condition of timber or carpet.
- Built-in robes or no robes.
- Bedroom size comparison.
For example: When comparing two properties, one may no built in robe and smaller dimensions and one may have a walk in robe and larger dimensions.
Lounge:
- Flooring type, lighting, and air conditioning.
- Size of the lounge.
For example: When comparing two properties, one may have a an odd shape and smaller dimensions the other may be rectangular and larger.
Backyard:
- Presence and quality of outdoor sheltered space or shed.
- Size and usability of the backyard.
- Block shape: clean rectangle or odd-shaped.
For example: When comparing two properties, one may be quite small and odd shape the other may be larger and rectangular.
Factors Influencing Property Value
- Type of car space (garage or carport).
- Land size and block shape.
- Location: proximity to busy roads, train tracks, or other detractors.
- Floor plan differences (e.g., extra study or living space).
- Condition of kitchen, bathroom, and other key areas.
Key Language for Valuing Properties
- Use terms such as:
- Slightly superior or slightly inferior for nuanced differences.
- Similar but slightly better/worse when unsure.
Final Tips for Commentary and Reporting
- Always prioritize closest proximity and most recent sales for comparables.
- Focus on the highest-priced inferior and lowest-priced superior properties to set valuation boundaries.
- Filter comparables by:
- Closest sales date.
- Most expensive properties (scroll down to find the lowest-priced superior).
- Ensure comparables match the subject property (e.g., brick vs. timber, single-story vs. two-story).
Bonus Reminders
- Ensure high attention to detail by comparing apples with apples.
- Select properties that align with the subject property in terms of material, structure, and layout.
- Consider all factors holistically to ensure accurate, data-backed valuations.
- Always prioritise the majority of comparable data over individual outliers.
- Ensure selections reflect the overall market trend in the suburb.
- Review additional properties to strengthen the case and provide a well-rounded analysis.
- Continuously validate selections with new findings.
- Ensure each selection includes justification for its inclusion or exclusion.
How to provide sale and rental estimates with confidence
In the below video AJ walks you through how to evaluate properties and create detailed reports using CoreLogic RP Data and REA. First, you’ll learn how to set up your tools and workspace to make the process smooth. Then, we’ll go over how to assess a property’s features, like its size, condition, and key amenities, and generate a CMA Signature Report. You’ll see how to find and compare similar properties by narrowing down search results based on location, date, and type, and we’ll dive into analysing their quality and features. We’ll also cover how to adjust property prices for market trends and check recently sold properties to keep your estimates accurate.
For rentals, you’ll learn how to review listings, vacancy rates, and demand. By the end, you’ll know how to pull all this together into a clear, professional report with accurate valuations and helpful insights.
Check out the 2 videos below of AJ explaining this in detail
Here are the steps below
1. Preparation: Setting Up the Environment
- Open required software: CoreLogic RP Data and REA.
- Split the screen for easier access, with photos on the right and CoreLogic on the left.
- Ensure all tools and materials (notes, templates, etc.) are accessible.
2. Reviewing the Target Property
Identify key features:
- Bedrooms, bathrooms, land size, and structure (e.g., low-set brick, rendered façade).
- Amenities like LED lighting, ducted air conditioning, timber flooring, ceiling fans.
Categorise quality:
- Determine if the property is renovated, flashy, middle-tier, or basic.
Document details:
- Save key metrics (e.g., 4-bed, 2-bath, 612 sqm) for reference.
3. Using CoreLogic: Generating Reports
Search and Cross-Verify:
- Input the property address into CoreLogic.
- Verify listing details like bedrooms and land size for accuracy.
Generate a CMA Signature Report:
- Use this as the basis for comparisons.
4. Refining Comparable Sales
Set Search Parameters:
- Timeframe: 3 months (adjust to six or nine if needed).
- Radius: 1.5 km for proximity.
- Property Type: House.
Filter Results:
- Sort by highest to lowest sale price for comparisons.
- Prioritise proximity for more relevant matches.
Select Comparables:
- When selecting properties it is recommended to start with 7-9, then finalise notes and refine to at least 3 properties (one superior, one inferior, one similar).
- Match key features (e.g., number of bedrooms, land size, condition, sale date).
- If needed, include a fourth "filler" property for completeness.
5. Valuing Land Size Differences
Sales CMA Reports
Determine Similar Land Size:
- Variance within ±50 sqm is considered similar.
- Example: For a 570 sqm property, similar includes 540 to 600 sqm.
Slightly Larger/Smaller:
- Variance between 51–75 sqm (e.g., 510 or 640 sqm for a 570 sqm property).
Superior/Inferior:
- Variance of more than 75 sqm (e.g., 470 or 670 sqm).
Adjust for Smaller Properties:
- For land sizes around 400 sqm, even a ±50 sqm variance can be significant.
- Prioritise closer matches, like 410–430 sqm, over larger differences.
Rental CMA Reports
Deprioritise Land Size:
- Focus on factors like floor plans, internal condition, outdoor spaces, and features (e.g., sunrooms, sheds).
- Variances in land size (even 100 sqm) are less impactful for rentals.
Prioritise Functional Features:
- A smaller yard with better outdoor amenities is more relevant than just size.
6. Analysing Comparable Sales
Exterior:
- Note façade type (e.g., rendered vs brick).
- Compare street appeal and overall condition.
Interior:
- Evaluate flooring, lighting, kitchen layout, bathroom quality, and finishes.
- Compare floorplan, bedroom sizing, shape, study or nook, living area sizing.
- Identify superior, similar, or inferior features.
Overall:
- Consider land size, outdoor spaces, and structural vs cosmetic factors.
- Write objective commentary, noting superior/inferior aspects for each property.
7. Accounting for Market Trends
Calculate market heat:
- Use campaign period (days on market) to backdate sales.
- Apply the monthly growth rate (e.g., 1.75%) to adjust historical prices to current market values.
Update property values:
- Adjust comparable sale prices accordingly and add notes in the analysis.
8. Trusting Majority Data in Tricky Scenarios
Identify Outliers:
- Compare selections and look for anomalies, e.g., a superior property priced lower than expected.
Expand Comparables:
- If data is conflicting, add 4–5 recent and nearby sales to establish a broader dataset.
Focus on Majority Trends:
- Let the majority of data guide your valuation, outweighing inconsistent outliers.
Analyse Days on Market (DOM):
- Low DOM (<10 days): Indicates urgency or limited marketing, potentially undervaluing the property.
- High DOM (>60 days): May suggest underlying issues.
9. Evaluating Sold Properties
Include sold properties:
- Search for relevant sold properties and use them for validation.
- Contact agents to confirm sale prices if needed
Analyse condition and features:
- Compare differences and align findings with current market trends.
Check REA and CoreLogic:
- Sometimes recent sales may not appear on CoreLogic but will on REA.
10. Evaluating Listings
Review live listings:
- Use active listings sparingly for additional context.
- Focus on similar configurations and proximity.
Validate pricing with agents:
- Reach out to agents for approximate sale prices, if necessary.
11. Rental Analysis
Prioritise tenant-relevant features:
- Focus on cosmetic appeal (e.g., kitchens, bathrooms, lighting) over land size.
Select comparables:
- Choose rentals close in proximity, matching configurations and conditions.
Adjust for market trends:
- Use similar steps as for sales to align rental values with current market conditions.
Add confidence ratings:
- If data is limited, recommend appraisals and note confidence levels.
12. Finalising the Report
Validate selections:
- Ensure comparables reflect the subject property’s characteristics.
- Adjust the order, placing superior properties at the top and inferior at the bottom.
Review maps:
- Check the proximity and clustering of selected properties.
- Adjust ratings for external influences like busy roads, creeks, or train stations.
Provide a valuation range:
- Include clear upper and lower bounds, justified by data and market trends.
Add notes:
- Include insights on over/under-listing, rental demand, or unique market factors.
Summarise findings:
- Comment on superior, similar, or inferior features to justify the final valuation.
Prefer a checklist? Click the drop down
Steps and Tasks | PAA has checked |
1. Preparation: Setting Up the Environment | |
Open required software: CoreLogic RP Data and REA. | |
Split screen for easy access: photos on the right, CoreLogic on the left. | |
Ensure tools and materials (notes, templates, etc.) are ready. | |
2. Reviewing the Target Property | |
Document bedrooms, bathrooms, land size, structure (e.g., low-set brick, rendered façade). | |
Note amenities (e.g., LED lighting, ducted air con, timber flooring, ceiling fans). | |
Determine if the property is renovated, flashy, middle-tier, or basic. | |
Record key metrics for reference (e.g., 4-bed, 2-bath, 612 sqm). | |
3. Using CoreLogic: Generating Reports | |
Input the property address into CoreLogic to verify details. | |
Cross-check listing data (bedrooms, land size, etc.). | |
Generate a CMA Signature Report for comparisons. | |
4. Refining Comparable Sales | |
Timeframe: 3 months (adjust to 6–9 if necessary). | |
Radius: 1.5 km. | |
Property Type: House. | |
Sort results by highest to lowest sale price. | |
Start with 7–9 comparables, then refine to at least 3 (superior, similar, inferior). | |
Match features: bedrooms, land size, condition, and sale date. | |
5. Valuing Land Size Differences | |
Sales Reports: Variance ±50 sqm. | |
Slightly Larger/Smaller: 51–75 sqm. | |
Superior/Inferior: >75 sqm. | |
Rental Reports: Focus less on land size, more on floorplans and features. | |
6. Analysing Comparable Sales | |
Exterior: Compare façade, street appeal, and condition. | |
Interior: Assess flooring, lighting, kitchen, bathrooms, and layout. | |
Overall: Review land size, outdoor space, and structural vs cosmetic factors. | |
7. Accounting for Market Trends | |
Backdate sales using campaign period (days on market). | |
Apply growth rates (e.g., 1.75%) to adjust historical prices to current values. | |
8. Trusting Majority Data in Tricky Scenarios | |
Identify and exclude outliers. | |
Add 4–5 recent sales if data is inconsistent. | |
Use majority trends for valuation guidance. | |
9. Evaluating Sold Properties | |
Review recent sales for alignment with the subject property. | |
Validate sale prices with agents if needed. | |
10. Evaluating Listings | |
Review live listings sparingly for additional context. | |
Validate pricing with agents for active properties. | |
11. Rental Analysis | |
Focus on tenant-relevant features like kitchens and bathrooms. | |
Select rentals with similar configurations and conditions. | |
Adjust rental values for market trends. | |
12. Finalising the Report | |
Validate comparables reflect property characteristics. | |
Check proximity maps for external factors (e.g., busy roads, train stations). | |
Provide a valuation range with justification. | |
Add notes on market factors and summarise findings. |
How to create a CMA: Putting the knowledge into action
What’s an InvestorKit quality CMA report look like?
In this video, we'll walk you through the gold standard of InvestorKit CMAs - it's the perfect way to understand exactly what we're aiming for in terms of quality and presentation.
Check it out:
Breakdown of steps in video below
1. Understand the CMA Structure
- The structure of the CMA is consistent regardless of the property type or location (e.g., Melbourne, Adelaide, or Townsville).
- Follow the same steps for all CMAs: selecting properties, analyzing data, and preparing commentary.
2. Start with Property Details
- Gather key information about the target property (e.g., address, land size, number of bedrooms, bathrooms, unique features, and price range).
- Example:
- Address: 30 Phillips Street, Vermont
- Specifications: 4-bedroom + study, 630 sqm land, auction range $1.3M–$1.4M.
3. Select Comparable Properties
Key Criteria:
- Closest geographical proximity (1.5km radius max)
- Most recent sale dates (ideally within the last 3 months; avoid going back further than 6 months unless necessary)
- Price range and asset similarities (start with 9-10 properties, then narrow to 3)
- Click "target suburb box", comparables should always be in the same suburb
- Update filters - Sale date / highest price or closest property
Ordering:
- Arrange properties from most expensive to least expensive.
- Selections must include:
- Superior property (highest price).
- Similar property (middle price).
- Inferior property (lowest price).
- All possible selections include:
- Superior property
- Slightly superior property (tough call but more superior).
- Similar property
- Slightly inferior property (tough call but less superior).
- Inferior property
4. Prepare Commentary for Comparables
Break Down Commentary into Three Categories:
- Exterior:
- Façade
- Materials (brick, timber)
- Carport/car space
- Street appeal
- Overall design
- Interior:
- Kitchen
- Bathrooms
- Floor plan
- Additional features (e.g., outdoor space, garage type)
- Overall:
- Summarize why the property is superior, similar, or inferior
- Language Tips:
- Use consistent, professional terminology (e.g., "superior kitchen with high-end finishes").
- Provide specific reasons for your assessment (e.g., "smaller land size and no study").
5. Apply Adjustments for Market Heat (if applicable)
What is Market Heat?
Market heat factor is a % per month subject to location. The Buying Markets tab in Attio has a separate section which provides %’s Under ''Market Heat'' for each region.
- Example: If a comparable property was sold 3 months ago for $500k. We would have to calculate 3 months of 1.5% (therefore 4.5%) growth then factor it into its true value = ($500k X (Amount of months) x 1.5%) + 500k = $522k
- Note the sale date / Distance away from subject property / comparable features
- Listing comparables (second page of Sale CMA) - Contact agent to ask what it sold for roughly (some are iffy with sharing, try your best) = purpose: To double-check if our valuation is in line with the market by reviewing live data
- *When typing out commentary, you’re limited to 350 words per box (be mindful and shorten sentences/words where possible)
6. Use the CMA Cheat Sheet for Point Scoring
- Score properties based on key attributes:
- Add points for superior features (e.g., better façade, larger land).
- Subtract points for inferior features (e.g., no garage, smaller rooms).
- Final Score:
- Positive: Superior.
- Neutral: Similar.
- Negative: Inferior.
7. Refine Final Selections
- Follow these rules:
- Choose the highest-priced inferior property.
- Choose the lowest-priced superior property.
- Ensure your final 3 selections represent a logical range.
8. Establish the Pricing Range
- Use the selected properties to create a range:
- Inferior property price = lower limit.
- Superior property price = upper limit (minus buffer, e.g., $20K–30K).
- Example:
- Inferior property: $1,489,000.
- Superior property: $1,555,000.
- Final range: $1.5M–$1.525M.
9. Conduct Rental CMA
- Follow the same structure as sales CMA except no need to calculate Market Heat:
- Select recent, nearby rentals (last 1–2 months).
- Filter by most expensive to cheapest
- Choose comparables based on rental yield and features.
- Establish a rental range:
- Inferior property rent = lower limit.
- Superior property rent = upper limit.
- Example:
- Inferior: $820/week.
- Superior: $1,000/week.
- Final range: $870–$900/week.
10. Finalise and Document Findings
- Ensure all commentary is clear, concise, and backed by data.
- Present the final CMA with a logical flow:
- Explain the reasoning behind each selection.
- Highlight the key factors influencing the range.
- Use the prepared commentary and range to guide client discussions and decision-making.
Breakdowns of different areas of the property
Now we are getting into the nitty gritty, different sections of the home, room by room, area by area. There’s a lot to look out for when looking to have the most accurate trusted pricing for our clients. Check out how we continue to do this below!
What to check with video walkthroughs?
Review any video walkthrough or online photos/video and scan for if there is anything missing, damaged, broken and if all areas of the property are recorded and the quality of the video/photos are sufficient.
Nick breaks down how to analyse a Video Walkthrough and what to look out for:
Here’s the list of things to watch out for below:
Video Content List:
- Street view
- Front yard including Facade
- All bedrooms
- All Studies
- All Bathrooms
- All Kitchens
- All living areas
- All garages
- All storage spaces
- All laundry’s
- All side yards
- All backyards
- All balcony’s
- All pergola’s
- Any other dwellings on the property (sheds, granny flats)
Internal Items:
- Mould
- Blinds
- Ceiling fans
- Air Conditioning
- Exhaust fans
- Lights
- Door Handles
- Ceiling Fans
- Windows
- Cooktop
- Oven
- Dishwasher
- Sinks
- Shower
- Bathroom
- Toilet
- Microwave
- Small rooms
- Holes
- Stains
- Water damage
- Paint
- Rust
- Flooring
External items:
- Retaining walls
- Shed
- Shelters
- Carports
- Fencing
- Lawns
- Gardens
- Driveways
- Footpath’s
- Facade
- Roof
- Gutters
- Letterbox
- Scan the street for anything that could be a detractor at the front of the closest 5 properties on the left and right i.e messy/unkept lawns, damaged properties, graffitti
Video Walkthrough Checklist.
PAA NAME | Checklist Item | Provided and Sufficient? |
Video Content | Front yard including Facade | |
Video Content | All bedrooms | |
Video Content | All Studies | |
Video Content | All Bathrooms | |
Video Content | All Kitchens | |
Video Content | All living areas | |
Video Content | All garages | |
Video Content | All storage spaces | |
Video Content | All laundry’s | |
Video Content | All side yards | |
Video Content | All backyards | |
Video Content | All balcony’s | |
Video Content | All pergola’s | |
Internal Items | Mould | |
Internal Items | Blinds | |
Internal Items | Ceiling fans | |
Internal Items | Air Conditioning | |
Internal Items | Exhaust fans | |
Internal Items | Lights | |
Internal Items | Door Handles | |
Internal Items | Ceiling Fans | |
Internal Items | Windows | |
Internal Items | Cooktop | |
Internal Items | Oven | |
Internal Items | Dishwasher | |
Internal Items | Sinks | |
Internal Items | Shower | |
Internal Items | Bathroom | |
Internal Items | Toilet | |
Internal Items | Microwave | |
Internal Items | Small rooms | |
Internal Items | Holes | |
Internal Items | Stains | |
Internal Items | Water damage | |
External Items | Paint | |
External Items | Rust | |
External Items | Flooring | |
External Items | Retaining walls | |
External Items | Shed | |
External Items | Shelters | |
External Items | Carports | |
External Items | Fencing | |
External Items | Lawns | |
External Items | Gardens | |
External Items | Driveways | |
External Items | Footpath’s | |
External Items | Facade | |
External Items | Roof | |
External Items | Gutters | |
External Items | Letterbox | |
External Items | 5 houses left and right check. |
What can I learn from an Open Home Video?
There’s no better way to get a idea of interest in a property then an Open Home. When most people are interested in a property they have a look at it. It’s a great method to gain information that will assist with negotiations. So what should you look at for and take note of?
What to check out the front?
What’s the inside look like?
Here’s more of the inside:
Check out the backyard:
Here’s some ideas below:
- What is the vibe of the attendees?
- How many people are there?
- Depending on both of the above you can use this too your advantage.
For example: If there is a lot of people - show the client there is high interest (create the excitement)
What to check in the kitchen:
Kitchens are often the most used, and most desirable room of a property. A well presented and maintained kitchen is high on the list of desirable features for a tenant, and a future buyer. Knowing what to look for is key, as the functional nature of a kitchen can lead to lots of wear and tear. In this video, our team will show you how to properly check the condition of the kitchen.
Here’s the steps to assess a kitchen below:
1. Introduction and Setup
Prepare the Workspace:
- Ensure tools like images, notes, and analysis software are ready for evaluation.
- Use side-by-side comparisons for efficient review.
2. Evaluating Kitchens
Focus on Key Features:
- Start with appliances: check for cooktops, range hoods, and dishwashers.
- Consider the layout, countertop quality, cabinetry, and overall modernity.
- Lighting: LED lights are superior to fluorescent or minimal lighting.
Detailed Analysis:
- Left vs Right Comparison:
- Assume appliances (e.g., dishwashers) are present if likely, based on renovation quality.
- Evaluate the height of ceilings for a spacious feel.
- Examine countertop quality; newer materials (e.g., stone or varnished timber) are superior.
- Cabinetry and Storage:
- Assess the quantity and quality of storage. Cabinets with more functionality and better finishes are preferred.
- Conclusion:
- Determine ratings: superior, slightly superior, similar, slightly inferior, or inferior.
- Avoid ambiguous terms like "slightly similar."
Example Insights:
- A kitchen with modern triangular range hoods, LED lights, and stone countertops typically outranks one with older materials and minimal lighting.
- Kitchens with islands often provide a better layout and are favoured in comparisons.
3. Evaluating Backyards
Key Aspects:
- Outdoor Shelters:
- Look for covered spaces, lighting (e.g., LED), fans, and quality flooring (e.g., timber or tiles).
- Higher, arched roofs provide a premium feel and increase appeal.
- Sheds and Storage:
- Sheds add significant value, particularly in areas like Queensland where storage for boats and equipment is desirable.
- Overall Layout:
- Larger, well-designed spaces with premium features (e.g., timber ceilings) are superior.
Special Considerations:
- Location Context:
- Properties with sheds are more appealing if near recreational water bodies but not at flood risk.
- Comparative Evaluations:
- Even small differences, like fan presence or lighting, can differentiate two otherwise similar backyards.
4. Comparative Techniques
Left vs Right Evaluation:
- Focus on direct comparisons for features like lighting, cabinetry, and appliances.
- Identify superior features for each property and weigh their importance in context.
Key Metrics:
- Use quality of materials, functional layout, and modernity as benchmarks.
- Simple layouts (e.g., an L-shape with no island) are less desirable than more open, functional designs.
5. Finalising Evaluations
- Conclude Rankings:
- Assign clear ratings based on the analysis:
- Superior: Best in class with clear advantages.
- Similar: Comparable with slight trade-offs.
- Inferior: Lacking key features or quality.
- Document Findings:
- Summarise insights for each comparison and highlight the reasoning.
- Note standout features that influenced the decision (e.g., superior lighting or countertop).
6. Learning Points
- Appliances Matter:
- Kitchens are heavily influenced by cooktop, range hood, and dishwasher quality.
- Aesthetic and Functional Balance:
- Prioritise features like modernity, functionality, and layout while considering aesthetic appeal.
- Outdoor Features Enhance Value:
- Premium elements like sheds, lighting, and roofing significantly impact property appeal.
- Consistency is Key:
- Maintain uniform criteria for evaluation to ensure objective and reliable assessments.
What to check in the bathroom:
Just like the kitchen, understanding what to look for when inspecting a bathroom is crucial, as the high moisture levels and daily use can cause significant wear and tear over time. In this video, our team will guide you on how to thoroughly inspect the condition of a bathroom to ensure it meets the standards for long-term functionality and appeal.
Here’s the steps for evaluating a bathroom:
1. Initial Preparation
Prepare the Workspace:
- Ensure images are visible side by side for direct comparisons.
- Zoom and adjust images to clearly display key features (e.g., tiles, fixtures, layout).
- Use annotations or highlight features for discussion, if applicable.
Set Evaluation Criteria:
- Focus on main elements: tiles, fixtures (e.g., showers, bathtubs, vanities), lighting, and layout.
- Avoid distractions like decorations or added features (e.g., plants, paintings).
2. Key Elements of Bathroom Evaluation
Shower and Bathtub Configuration:
- Evaluate if the shower and bathtub are separate or combined. Separate setups are often superior.
- Assess the quality and size of the shower enclosure (e.g., glass coverage, full or partial).
Tiles and Flooring:
- Look for modern tile designs (e.g., larger tiles or textured finishes).
- Evaluate the consistency of tile coverage across walls and floors. Partial tiling or outdated tiles reduce value.
Vanity and Sink:
- Check for modernity: laminated or sleek finishes are preferred over dated designs with knobs or handles.
- Consider functionality: larger vanities or double sinks are superior.
Lighting:
- LED lighting is preferred for brightness and modern appeal.
- Evaluate natural light access through windows, ensuring no compromise to privacy.
Overall Condition and Modernity:
- Identify signs of renovation versus original condition (e.g., tile stains, outdated fittings).
- Assess whether the bathroom adheres to contemporary standards (e.g., clean lines, updated materials).
3. Comparison Process
Direct Feature Comparison:
- Compare specific features such as shower size, tile quality, and vanity design.
- Identify which photo has better-quality materials, larger features, or modern aesthetics.
Identify Superior and Inferior Features:
- Highlight specific advantages or disadvantages of each bathroom (e.g., separate shower vs. combined, tile size).
Make a Judgement:
- Assign ratings: Superior, Slightly Superior, Similar, Slightly Inferior, or Inferior.
- Base the rating on functionality, condition, and aesthetics.
4. Special Considerations
Avoid Being Misled:
- Decorations such as plants, paintings, or added features (e.g., timber covers) can be deceptive. Focus on structure and materials.
Structural Details:
- Check walls for tiling versus painted finishes. Full tiling often indicates a higher-quality renovation.
- Assess drainage systems (e.g., grates in showers) for quality and placement.
Windows and Ventilation:
- Larger, modern windows add value, but they must align with privacy and functionality.
- Older, smaller windows or wooden finishes may signal outdated designs.
5. Handling Close Comparisons
When Bathrooms Seem Similar:
- Focus on subtle distinctions, such as tile consistency, lighting quality, and space allocation.
- Determine if minor differences (e.g., brick walls versus tiles) make one bathroom slightly superior.
Balancing Pros and Cons:
- If one bathroom has better tiles but the other has a better layout, consider an overall "Similar" rating.
6. Concluding Evaluations
Summary of Findings:
- Clearly state which bathroom is superior and why.
- Highlight the most significant features influencing the decision (e.g., modern tiles, separate shower).
Learning Recap:
- Reinforce the importance of ignoring decorative distractions.
- Emphasise the role of core elements like layout, lighting, and condition in evaluations.
7. Advanced Tips
Spot Signs of Renovation:
- Look for uniform tiling and clean edges to identify recent renovations.
- Examine the finish on vanities, cabinets, and fixtures to determine age.
Use Context When Available:
- Consider the age and location of the property to predict bathroom conditions.
What to check in the Lounge/Exterior
Below the team will walk through some of the common and uncommon things to look out for when conducting a remote, but thorough, inspection of the living areas and exterior of the property
Here’s the list for evaluating property exteriors and lounges:
1. Preparation
Organise Visuals:
- Ensure clear, side-by-side comparison of property photos.
- Adjust zoom levels to highlight key features like garages, landscaping, and room details.
Set Evaluation Criteria:
- Focus on functional and structural features such as garages, roofing, lighting, air conditioning, and flooring.
- Consider the overall aesthetic appeal as a secondary factor.
2. Evaluating Property Exteriors
Garages:
- Prioritise practicality over aesthetics. A triple lock-up garage is superior to a single or double garage.
- Assess driveway width to verify garage capacity when the photo is unclear.
Landscaping:
- Note landscaping quality but do not overvalue it. Focus on how landscaping complements the property's functionality.
- Superior landscaping adds appeal but does not outweigh functional features like garage capacity.
Roofing and Materials:
- Examine roofing quality and materials. Better roofing (e.g., tiles, modern materials) indicates superior durability and appeal.
- Look for rendered exteriors or other design features that suggest higher investment in aesthetics.
Overall Design and Style:
- Compare features like curves, entrances, and additional design elements. These indicate a higher-quality build.
3. Evaluating Lounges
Air Conditioning Systems:
- Ducted AC: The best option, providing uniform cooling/heating.
- Split AC: A mid-tier option, effective but less integrated.
- Wall-Mounted AC: Older and less efficient.
- Fans: The least valuable for temperature control.
Lighting:
- LED lighting is the gold standard for modern appeal and energy efficiency.
- Evaluate the quantity and distribution of lights in the lounge for a brighter, more inviting space.
Flooring:
- Timber or high-quality flooring is superior to carpets, which can appear outdated.
- Assess flooring condition for signs of wear, stains, or age.
Room Layout and Space:
- Check for spaciousness and logical arrangement of furniture or fixtures.
- Consider ceiling height and the presence of additional features like decorative moldings or architectural elements.
4. Comparison Process
Direct Feature Comparison:
- Assess key features (e.g., garage size, AC systems, lighting) and determine which property offers superior functionality or aesthetics.
Functional vs. Aesthetic Balance:
- Weigh practicality (e.g., garage space, ducted AC) higher than decorative aspects like landscaping or wall colour.
Assign Ratings:
- Use a clear scale: Superior, Slightly Superior, Similar, Slightly Inferior, Inferior.
- Justify ratings with specific observations (e.g., “better flooring and ducted AC”).
5. Handling Close Comparisons
When Properties Appear Similar:
- Look for subtle distinctions, such as roofing material, lighting quality, or additional garage features.
- Assign “Slightly Superior” ratings for minor advantages.
Balancing Pros and Cons:
- When one property excels in aesthetics but another excels in functionality, prioritise functionality for a fairer evaluation.
6. Special Considerations
Avoid Assumptions Without Context:
- If critical features are not visible (e.g., tiling, garage size), avoid definitive judgments.
- Use driveway width or architectural cues to infer details.
Identify Misleading Features:
- Ignore added decorations like plants or artwork when evaluating structural and functional quality.
Focus on Practicality:
- A triple garage outweighs superior landscaping, and ducted AC trumps decorative appeal in lounges.
7. Concluding Evaluations
Summarise Findings:
- Highlight key reasons for superiority, focusing on practicality and structural quality.
- Address any aesthetic advantages if relevant to the comparison.
Review and Discuss:
- Discuss conclusions as a team to ensure consensus and reinforce learning.
Revisit Criteria:
- Use the recordings or previous examples to revisit tricky evaluations and refine judgment.
What if I observe something new that changes my mind on price?
It is possible that after completing all of your reporting you may get a new video of the property which has a fence leaning, maybe a door is damaged, or water damage is present. Something that wasn’t captured in the original footage you sourced. Firstly, good job for capturing this, but secondly - what do you do now? You review and update your CMA - see below for details.
Here’s the steps to take to update your pricing:
- Update your CMA/Rent reports in the range or quality once we have a better picture of the property through videos - find the red flags of the property, attention to detail.
- Catch things the client may see in the videos and address them early.
What’s an example?
You have noticed a cracked window, the fencing is damaged or maybe there is additional ceiling fans you didn’t know about?
CMA Presentations - Role plays
Let’s bring it all together and see some CMA presentations in action. Below is a video from one of our new starters, Andrew, completing his CMA certification with AJ. Something you will be doing soon too 😉
BONUS content - End to End CMA workshop with AJ
Here AJ is running an CMA training session with some new starters as part of their Level Up training. He goes through the process from end to end, if this is your first time reading through this module then we highly suggest watching it and taking notes.
ARI - Cash flow App
The Advanced Rental Income Analyser (ARI) simplifies property analysis by providing detailed estimates for yield, acquisition costs, and holding expenses. With adjustable inputs for property value, rent, and loan details, it ensures conservative and accurate calculations. ARI also accounts for state-specific costs and provides visual projections for cash flow and growth, making it an essential tool for clear, confident client presentations.
How to get ARI presentation ready
Now that you know what it is, where do you get the information? Gather information from multiple sources to ensure accurate and client-ready projections. The CMA reports for property value ranges and conservative rent estimates, while the Attio Buying Markets Page provides region-specific acquisition costs such as building and pest inspections, combining fees, and miscellaneous expenses. Stamp duty is pre-populated based on the property’s state, and contract documents are referenced to calculate land tax once the unimproved land value is available. Additionally, ARI’s pre-generated rates and calculators are leveraged for conservative financial assumptions, including holding costs and loan details. Together, these inputs create detailed projections and visual data on cash flow and property performance.
Here’s Caleb running through how to get ARI to presentation ready:
Here’s the steps to get ARI presentation ready
Step 1: Initial Setup
Open a new ARI tool page:
Link - InvestorKit
- Start with either a blank ARI (some details may be pre-filled and need updating).
Property address input:
- Enter the property address to auto-populate the map, state, postcode, and property type (typically defaults to "residential").
Input property value:
- Use the highest value from your Comparative Market Analysis (CMA) range for a conservative estimate.
Step 2: Rental Inputs
Input rent amount:
- Use the lowest rent value from the analysis to maintain a conservative approach.
Gross yield calculation:
- Ensure rent and property value are entered accurately to generate the gross yield.
Editable fields:
- Highlight to clients that fields with a blue border are editable by them or you.
Step 3: Client-Specific Inputs
Income details:
- Leave income fields blank for clients to input their details themselves to avoid providing personal financial advice.
Cash flow visualization:
- Explain how inputting income affects after-tax cash flow projections.
Step 4: Loan Details
Default loan parameters:
- Use an 80% loan-to-value ratio (LVR) at 6.25% interest over 30 years as the default.
Adjustments:
- Modify loan details if the client specifies different loan structures, such as self-managed super funds (SMSF), where interest rates might be higher.
- Account for Loan Mortgage Insurance (LMI) for LVRs over 80% by adjusting acquisition costs or including a waiver if applicable.
Step 5: Acquisition Costs
Deposit calculation:
- Based on the loan-to-value ratio.
Additional costs:
- Use Attio data for region-specific costs such as:
- Building and pest inspections.
- Conveyancing fees.
- Miscellaneous costs (e.g., $5,000 contingency for minor fixes in Victoria due to negotiation limitations).
Stamp duty:
- Automatically calculated based on the property’s state.
Step 6: Annual Holding Costs
Default costs:
- Pre-populate estimates (e.g., 8% of rental income in Melbourne).
Region-specific adjustments:
- Use Attio to update costs for maintenance, council rates, water levies, and insurance specific to the property location.
Land tax:
- Use the Section 32 or estimate $1,600 for Victoria properties if the exact unimproved land value is unavailable.
Step 7: Loan and Interest Adjustments
Principal vs. Interest-only:
- Explain how switching between these impacts cash flow and repayment projections.
Amend interest rate:
- Adjust rates in conjunction with client-specific loan details, if necessary.
Step 8: Data Visualisation
Graphs overview:
- Showcase key graphs:
- Total performance (growth + cash flow).
- Cash flow projections before and after tax.
- Long-term growth projections over 30 years.
Explain visual insights:
- Highlight the "Total Performance" line for overall return visualization.
- Use these graphs to emphasize the long-term benefits of property investment.
Step 9: Encourage Client Engagement
Editable customization:
- Reassure clients that they can adjust fields in the ARI tool to reflect their specific situation.
Powerful decision-making tool:
- Reinforce the tool’s ability to provide clear, long-term financial insights tailored to their property investment goals.
Step 10: Final Tips:
How to present ARI to a client
You’ve got all the information, now how are we going to share it with the client? How you present financial information can make all the difference. Clear, simple, and professional insights help clients feel confident and engaged, turning complex numbers into actionable steps. A well-structured presentation builds trust, highlights a property’s potential, and strengthens your credibility, creating a solid foundation for a lasting client relationship.
Here’s Caleb to walk us through this below:
How to present ARI to a Client
Step 1: Initial Setup and Confirmation
Ensure visibility: Confirm the client has the presentation visible, either on their phone or computer.
Check device compatibility: Note differences in display on mobile vs. desktop and adjust accordingly.
Step 2: Provide Context
Long-term investment perspective:
- Highlight that property is a long-term investment, especially in the current economic environment.
- Explain that while current interest rates impact cash flows, relief is expected in 12-18 months due to potential rate cuts, improving cash flow.
Set expectations: Emphasize that this is a realistic and conservative view of the market.
Step 3: Walk Through Inputs
Property details:
- Present the property, its value, and reference the Comparative Market Analysis (CMA) used for accuracy.
- Highlight the conservative approach taken for the figures.
Income and loan details:
- Explain how to input their income, and how it reflects in the tool.
- Discuss loan-related inputs cautiously, avoiding personalized financial advice unless necessary.
Dynamic adjustments: Adjust inputs live during discussions if clients raise concerns, particularly regarding weekly cash flow.
Step 4: Acquisition Costs
State-specific breakdown:
- Explain state-specific acquisition costs (e.g., building and pest inspections, conveyancing fees).
Highlight miscellaneous costs:
- Stress the need for a $5,000 contingency for minor fixes, especially in states like WA and Victoria, where negotiations are limited.
- Explain additional state-specific requirements (e.g., gas and electrical safety certificates in Victoria every two years).
Preparation for future costs: Prepare clients for potential minor repairs or upgrades needed before leasing (e.g., replacing a dishwasher or fixing a tap).
Step 5: Holding Costs
Discuss ongoing costs:
- Outline typical holding costs (e.g., insurances, rates) and how they vary by state or area.
- Mention that these are standard business costs and should be factored into their planning.
Land tax considerations:
- If applicable, advise clients to consult their accountant for an accurate land tax assessment based on their broader property portfolio.
Step 6: Growth Projections
Conservative approach:
- Highlight conservative growth rates used in the projections.
- Emphasize the hope for better-than-expected performance but stress the importance of managing expectations.
Graphs and projections:
- Walk through the 30-year growth projection graph, showcasing the potential long-term benefits of holding property.
Step 7: Encourage Customisation
Client adjustments:
- Make it clear that clients can edit inputs in the tool to reflect their specific situation.
- Encourage them to explore customization options for better insights.
There you have it! You have all your reports and information ready to go. It’s time to share it with the best suited client and present the property! Want to know the world class way to do this? Click below 👇🏻
Learning Competency Checklist
1. Understanding the Purpose and Importance of CMA Reports and ARI
- Competency: Demonstrate a thorough understanding of how CMA reports and the ARI Cash Flow App support property valuation, cash flow projections, and client decision-making.
- Pass Criteria:
- Clearly explains why detailed sales and rental analyses are essential for accurate property valuation.
- Articulates the role of ARI in providing conservative and client-ready financial projections.
- Fail Criteria:
- Cannot explain the purpose or benefits of using CMA reports and ARI.
- Shows little understanding of how these tools influence client confidence and decision-making.
2. Personalizing and Customizing CoreLogic RP Data Templates
- Competency: Understand how to log in and set up your CoreLogic account to generate standardized CMA reports for both sales and rental analyses.
- Pass Criteria:
- Describes the step-by-step process for accessing CoreLogic, editing report details, and saving customized templates.
- Demonstrates awareness of key fields that must be updated (e.g., agent details, company address, contact information).
- Fail Criteria:
- Is unable to outline the personalization process or neglects critical fields during setup.
- Fails to secure a template that auto-populates future reports.
3. Generating and Customizing CMA Reports
- Competency: Demonstrate proficiency in navigating the CoreLogic interface to generate a CMA report, including selecting comparables and adjusting report settings.
- Pass Criteria:
- Explains the process of selecting the CMA section, inputting property details, and choosing comparable sales data.
- Outlines how to edit report details (e.g., removing unnecessary fields and adding the InvestorKit logo) for a professional output.
- Fail Criteria:
- Cannot clearly describe the steps for generating and customizing the report.
- Omits key customization actions that affect report clarity or professionalism.
4. Selecting and Analyzing Comparable Sales and Rental Data
- Competency: Show an in-depth understanding of how to select relevant comparables for both sales and rental markets using CoreLogic and REA data.
- Pass Criteria:
- Identifies the criteria for selecting comparables (e.g., proximity, sale date, property type, land size variance) and applies them appropriately.
- Explains how to sort and refine the list to achieve a logical range of superior, similar, and inferior properties.
- Fail Criteria:
- Fails to apply or explain the criteria for selecting appropriate comparables.
- Presents a disorganized or illogical selection of properties for analysis.
5. Incorporating Market Trends and Adjusting for Market Heat
- Competency: Understand how to adjust historical sales data using market heat factors and growth rates to reflect current market conditions.
- Pass Criteria:
- Explains the concept of market heat and how to apply growth rate adjustments to comparable sale prices.
- Demonstrates awareness of factors such as days on market and proximity when adjusting prices.
- Fail Criteria:
- Is unable to incorporate market trends or justify adjustments to historical data.
- Neglects to account for essential factors that influence current valuations.
6. Finalizing the CMA Report with Clear Commentary and Valuation Range
- Competency: Demonstrate the ability to finalize a CMA report by providing detailed, data-backed commentary and establishing a well-supported valuation range.
- Pass Criteria:
- Outlines a systematic process for reviewing comparables, documenting insights, and defining upper and lower valuation boundaries.
- Explains how to justify each selection with specific observations.
- Fail Criteria:
- Fails to produce a coherent summary or valuation range that reflects the data accurately.
- Lacks detailed commentary or provides ambiguous explanations for property comparisons.
7. Differentiating Sales CMA from Rental CMA
- Competency: Recognize the differences between sales and rental comparative analyses and understand the distinct focus areas for each.
- Pass Criteria:
- Clearly explains how the approach to evaluating sales comparables differs from that for rental properties (e.g., focus on land size vs. internal features).
- Demonstrates the adjustments needed for rental analysis, such as deprioritizing land size.
- Fail Criteria:
- Cannot distinguish between the two methodologies or applies the same approach to both sales and rental reports.
- Omits key factors that differentiate rental analysis.
8. Setting Up and Using the ARI Cash Flow App
- Competency: Demonstrate proficiency in configuring the ARI Cash Flow App, including inputting property, rental, and loan details for accurate cash flow analysis.
- Pass Criteria:
- Describes the steps to open the ARI tool, input the property address, property value, and rental amount.
- Explains how default loan parameters are set and how to adjust these based on client-specific details.
- Fail Criteria:
- Is unable to outline the setup process for the ARI tool.
- Fails to input or adjust critical financial details required for generating projections.
9. Presenting ARI Projections to Clients
- Competency: Understand how to prepare and present ARI projections in a clear, professional manner that supports client decision-making.
- Pass Criteria:
- Explains how to walk clients through the ARI outputs, including cash flow graphs and long-term growth projections.
- Demonstrates an approach for live adjustments and client engagement during presentations.
- Fail Criteria:
- Cannot clearly describe an effective presentation strategy for ARI data.
- Fails to address how to customize or adjust inputs in response to client queries.
10. Troubleshooting and Ensuring Report Accuracy
- Competency: Demonstrate the ability to identify and resolve common issues in both CMA and ARI reports to ensure accuracy and consistency.
- Pass Criteria:
- Outlines methods for troubleshooting formatting issues, missing data, or inconsistent comparables.
- Explains the process for a final review to verify that all information is correctly presented.
- Fail Criteria:
- Is unable to identify potential issues or lacks a systematic approach to final report validation.
11. Applying Comparative Techniques and Ensuring Consistency
- Competency: Demonstrate proficiency in using comparative techniques to evaluate property features and maintain consistency across reports.
- Pass Criteria:
- Clearly describes the process of direct feature comparison (exterior, interior, and overall) and how to assign ratings such as superior, similar, or inferior.
- Explains how to use a standardized checklist (or cheat sheet) to score properties and justify selections.
- Fail Criteria:
- Fails to apply systematic comparative techniques or uses inconsistent criteria that lead to unreliable valuations.
12. Integrating Additional Visuals and Open Home Insights
- Competency: Understand the role of supplementary visuals (videos, photos, walkthroughs) in enhancing the CMA and rental analyses.
- Pass Criteria:
- Explains the significance of reviewing property videos, open home footage, and photo walkthroughs to detect additional details or red flags.
- Describes how to incorporate these insights into the final report and valuation.
- Fail Criteria:
- Neglects the importance of visual data or cannot integrate additional findings into the overall analysis.