FAQs for CMAsnap Follow
Q: What is CMAsnap?
A: CMAsnap is a tool that produces a full market analysis and pricing reports on residential properties in a fraction of the time it takes using conventional CMA tools. Check out a quick overview here: https://www.youtube.com/watch?v=eeeezEa9mCE
Q: When is the launch date for CMAsnap?
A: February 4, 2025.
Account & Subscription:
Q: What will be the cost to subscribers?
A: CMA Snap offers a free 30-day trial. After the trial, the cost is $30 per quarter, billed through CMAsnap. The cost will be prorated based on the subscription start date.
Clarification: There will be no discounted annual subscription available at launch. Doorify has already worked with CMAsnap to offer this product at a lower cost than the standard market rate.
Q: How will I access the trial for CMAsnap?
A: After February 4th, you can start your free 30-day trial by clicking the "Start Trial" button on the MLS Dashboard. Once your trial period ends, you will have the option to subscribe to continue using CMAsnap.
Q: What is the trial period for CMAsnap?
A: The trial lasts 30 days from the date you activate it.
Q: What is the difference between annual pricing and monthly pricing for CMAsnap?
A: Annual pricing provides a discount equal to two months' subscription fees compared to monthly billing.
Clarification: There will be no discounted annual subscription available at launch. Doorify has already worked with CMAsnap to offer this product at a lower cost than the standard market rate.
Q: Will I still be able to use other CMA tools, or will they be removed from Doorify MLS?
A: Yes, you can continue using other CMA tools. CMAsnap is an additional offering, not a replacement.
Q: What does "premium" service mean? Will there be additional fees?
A: "Premium" services are optional add-ons beyond the standard MLS subscription. Doorify MLS provides access to innovative tools like CMAsnap but does not replace existing services.
Feature & Product Comparisons
Q: What area does CMAsnap cover in NC?
A: CMAsnap is currently available exclusively through Doorify MLS.
Q: How is CMAsnap different from other home valuation tools?
A: CMAsnap is designed specifically for creating detailed Comparative Market Analyses (CMAs), offering a more hands-on approach compared to automated valuation models. It allows users to select and adjust comparable sales while leveraging their own market expertise to ensure accuracy.
Q: What makes CMAsnap stand out from other CMA tools?
A: CMAsnap is built for speed, efficiency, and ease of use, providing a highly automated process while still allowing for manual adjustments. It also offers strong customer support and is seamlessly integrated within Doorify MLS, enhancing the workflow for real estate professionals.
Q: Does CMAsnap include off-market closed sales and FSBO data?
A: CMAsnap only pulls MLS-sold listings. Appraisers require verifiable sales data (e.g., closing statements) for off-market transactions.
Q: Can I substitute manual adjustments instead of using system-generated adjustments?
A: Yes! CMAsnap provides suggested adjustments, but you can edit or add your own with a single click.
Q: How is the adjusted sales price calculated?
A: The adjusted sales price is the average of all adjusted values of the comps you've selected for pricing (indicated by the dollar sign icon).
Q: How are square footage adjustments calculated?
A: We calculate square footage adjustments by taking the difference in square footage between the subject property and the comparables (comps), multiplying that by the average price per square foot of the selected comps, and then applying a 30% adjustment. This methodology ensures consistency and accuracy across your reports.
Q: Is CMAsnap good for identifying property similarities and differences?
A: Yes! It matches stories and pools based on Fannie Mae guidelines and allows manual selection of key factors for CMAs.
Q: Is the same data available for rentals?
A: Yes! We are working with property managers to ensure accurate methodologies. Expect a release in late spring.
Q: Can I use CMAsnap to adjust for unique neighborhood factors, like homes next to a golf community?
A: Yes! While CMAsnap provides automated comps, your local expertise is crucial for selecting the most appropriate comparisons.
Getting Started & Login
Q: Can I use CMAsnap on my phone?
A: Absolutely! CMAsnap offers full functionality on any device. Just open your browser and log in as usual.
Q:How do I change my login email address?
A: To change your login please email address, send an email to support@cmasnap.com.
Include your current login email and the login email you would like to change to. We are typically able to make this change within 24 hours.
Q: I didn’t receive my authorization code.
A: Ensure your MLS profile has a direct/mobile number that can receive texts. If you use an office number, the code will not be received. Contact support@cmasnap.com for manual authorization.
How to Use:
Q: How do I change a comp?
A: On the Comps page, uncheck the highlighted property you do not want included in your report.
Q: Can I add my own comps?
A: Yes. On the Report page, click the blue "Add Comp" button and enter an address or MLS number, then select property.
Q: How can I remove a comp?
A: On the Report page, either:
- Click a pin on the map and select Delete, or
- Click the Delete button below the comp image.
Q: Can I search by subdivision?
A: CMAsnap does not have a subdivision search, but allows filtering by neighborhood using the search box above the sold date in the property table.
Q: How do I set up my profile for sending listings to clients?
A: Click your email address in the top right corner of your browser window, select "Account," and fill out your details as you want them displayed on reports. You can also upload a headshot and company logo. Don’t forget to click "Submit" to save changes.
Q: Can I add a property that did not sell in the MLS?
A: Yes, but use caution. Appraisers require closing statements for verification. To add, click "Add Comp" on the Reports page, select "Search Tax Records", and enter the sale details.
Q: How do I adjust for basement square footage?
A: On the dashboard, click the "Edit" button below the property photos. In the property form, click "More" next to square footage and enter the adjustments. Click "Submit" to save.
Q: How should I adjust for third-floor attic space?
A: CMAsnap automates adjustments for unfinished above-grade square footage. Use the "Edit" button under the property photos, click "More" next to square footage, enter the adjustment, and click "Submit."
Q: How do I input adjustments for upgrades?
A: CMAsnap offers standard adjustments for partial and full upgrades. To add specific upgrades, click the "+-" button under the comp's photo, then the green plus button, and describe the upgrade in the provided box. If it’s not listed in the dropdown, type a description and click "Create." Enter a value and click "Submit." Remember, adjustments should only be made to comps, not the subject property.
Q: Can I change the search radius?
A: Yes. On the Comps page, click Filter (upper right) to adjust:
- Search radius & distance
- Square footage
- Year built
- Property type
-
Date range
Troubleshooting & System Issues
Q: Nothing happens when I click "New Report."
A: If your trial has ended, you must subscribe to continue using reports. Click "Subscribe Now" to activate your account.
Learn more from CMAsnap’s creator, Tom Cunningham, in this recording of our January 16th Town Hall in the attached file: