Comparative Market Analysis (CMA)

Instructions for the Learner:

1. do a Comparative Market Analysis (CMA) for the property in which you currently live. You may use a template from your workplace or the one provided below.

2. To access the required information for complete the CMA, you will need to complete the following six (6) steps:

Step 1: Research past sales of comparable properties

Type in your property address to www.rpdata.com.au or www.pricefinder.com.au

Check that the information on the website is correct and up to date, and it contains the correct zoning, land area, property description and ownership details NOTE: If you do not have access to one of these websites, you may enter details of hypothetical properties nearby.

Click onto the CMA profiler and enter the address of the subject property and commence a radial search for similar properties that have sold over the last 6 months.

Step 2: Research comparable properties currently on market

Log onto a recognised property sales database (e.g. domain.com.au, realestate.com.au or similar) and research properties similar to your property, that are currently on the market. This can be done by using the search menus and entering the price-range, style of property and suburb in the search fields.

Compare the features of each property with your subject property.

Step 3: Prepare the CMA

Include in your CMA document at least three (3) comparable properties currently for sale and three (3) comparable properties that have recently sold.

Step 4: Rate the properties on your CMA

Rate each property on your CMA as inferior, comparable or superior to your subject property.

Step 5: Work out your appraisal range

Focus on the properties that you have ranked as comparable and determine a realistic estimate of selling price for your subject property. This range should have a 5% variation between the high and low end of the price range.

Submit CMA