best CMA softwares real estate

• Reddit discussion titled “Good modeling software or template?” in the r/realestateinvesting subreddit.
• Discussion took place 4 years ago.
• User is seeking suggestions for decent software or a template for modeling out financial potential in multi-family real estate opportunities.
• User has a background in business but lacks experience in real estate.
• Suggestions from Reddit users include:
  • Microsoft Excel
    • User recommends building one’s own model with their business knowledge
  • Drop Model (karma: 2)
  • DealCheck (karma: 6)
    • User claims it has tools for analyzing multi-family and commercial properties
    • Ability to enter a detailed rent roll, itemize closing costs, rehab costs, and operating expenses by unit or building
    • Can display analysis outputs/metrics on a “per unit” or “per building” basis
  • DealCheck user praises the app for being a great and easy-to-use tool (karma: 2)
  • Suggestion to watch BiggerPockets webinars on evaluating real estate deals and use a tool like rental property calculator (karma: 1)
• Some users poke fun at the original poster, but most offer helpful suggestions.
• One user suggests the original poster may not be ready for the “more sophisticated side of things” until they have 2-3 years of experience.
• Another user suggests sticking to Sketchup since it’s free.

• Deloitte report finds that only 1/3 of real estate agents feel they have the skills to operate a digitally transformed business.
• The post provides an overview of 2 CRM software options in the real estate industry: AscendixRE and Pipedrive.
• ASCENDIXRE
  • Founded in 1996, $23.5 million yearly revenue.
  • Average ratings: 4.6/5 (G2 and AppExchange).
  • Deployment options: Web-based, Cloud, SaaS, iOS, Android.
  • Training options: In-person, live online, webinars, and documentation.
  • Support options: Business hours, online.
  • Languages supported: English.
  • Free trial: 30 days.
  • Pricing:
    • xRE Foundations plan: $49 per user/month (billed annually) for a Salesforce license, account, contact, inquiry and deal management, properties, listing, lease, sales, availabilities, preference tracking, multi-family functionality, prebuilt CRE fields, custom fields, Outlook and Gmail integration, iOS and Android apps, dashboards and reports, data deduplication, workflow/process automation, transaction management, property alerts.
    • xRE Enterprise plan: $79 per user/month for all the features in the Foundations plan plus Ascendix Search (advanced Salesforce search tool designed for realtors), Ascendix Composer (real estate report and property tours generation tool), and additional features like email marketing, mass records update and editing, lead management, and contact and account management, among others.
    • xRE Unlimited plan: $99 per user/month for all the features of the Enterprise plan plus Virtual Deal Rooms/Collaboration Rooms via MarketSpace Tool for Advanced Marketing of Property Listings & Deal Rooms, public listing portal, and automated lead capture, among others.
  • Key features: Contact and account management, prospecting tools, email marketing, mass records update and editing, lead management, calendar and contact sync, dashboards and reporting, data deduplication, data management, custom fields, bulk emailing and campaign management, third-party integrations, enhanced drip campaigns, customizable property listing portal, map search, branded report and flyer generation tool, centralized data storage, secure virtual collaboration and deal rooms, automated workflows/processes, property alerts, property listing management.
  • Key clients: JLL, Colliers International, CRESA, Savills Ireland, and others.
  • Pros: Lots of functionality for any commercial real estate need,

• Rockport VAL is a cloud-based software that streamlines real estate valuation, appraisal and due diligence processes.
• It is owned and driven by Rick Trepp, a successful CRE visionary who is also its majority shareholder.
• The software is designed to be intuitive and easy to learn, with possible mastery in just 2 hours of use.
• Rockport VAL eliminates the need for costly IT infrastructures, overheads and support. It also works on any device and is accessible from anywhere without requiring any installation or additional software setup.
• The software provides unlimited valuations and scenarios with no limitations whatsoever.
• Detailed lease analysis is possible with the software, including Occ Cost, %Rent, Recoveries and more.
• The platform has a strong community base and is used extensively by some of the largest funds, lenders, V&A, brokerages & owners in the industry.
• The platform has debt modeling capabilities built by people who understand debt. This means users can easily model any type of debt including ground leases, senior debt and mezzanine debt.
• The software is designed to handle any asset class, including complex, multi-property mixed use projects.
• Rockport VAL allows users to share their models with anyone, even if the recipient is not a client of the software.
• The platform integrates with other systems and provides a two-way open API interface for data, report packages, PMs and OMs.
• Users can import existing ARGUS® exports, saving time and needlessly recreating models.
• The software developers highlight their transparency, emphasizing that they don’t take ownership of their clients’ data and don’t compete with them.
• The platform also offers an Excel add-in for further model integration.
• The platform integrates with the Rockport Platform & Appraisal Writing Systems.
• The platform is built to last for decades, with no short-term thinking involved.
• The software offers client support known as “Our Customer Success Team,” which is highly regarded as the best in the industry.

Additional notes:

• No information was provided regarding pricing of the product or free trial options.
• No review, rating or feedback was provided on the webpage other than mentions that it is used extensively in the industry.

• Users across Reddit’s r/RealEstate forum discuss the different home value estimates provided by different websites, including Zillow and Redfin.
• One user mentions that CEO of Zillow sold his home for 40% less than the estimated value provided by Zillow.
• Another user argues that the estimates are “for entertainment value only” and are designed to drive traffic to the websites. They emphasize that homeowners and potential buyers should avoid relying on these estimates to make financial decisions.
• Multiple users argue that online home value estimates are unreliable due to the limitations of algorithm-generated market values.
• They suggest that sellers and potential buyers should instead speak with a licensed real estate agent for a comparative market analysis (CMA) or an appraiser for a more accurate valuation.
• A few users suspect that the incentive structure of online home value estimate websites may lead to intentionally inflated numbers in order to generate buzz and profits.
• One user suggests that the square footage and number of bathrooms of a home alone are not enough to create an accurate formula.
• Many users emphasize that an on-site visit and human judgment are needed to make a reliable home valuation.
• One user specifically argues that “trained human eyeballs” are essential in the process.
• Overall, the consensus on Reddit is that online home value estimates are inaccurate and unreliable, and should not be relied on by homeowners and potential buyers.

Not used in article

• Topic: Best practices and software for creating a Comparative Market Analysis (CMA).
• Suggestions for creating a CMA:
  • Pull information from MLS for 3, 6, or 12 months of data in the specific neighborhood of the property. (31 karma)
  • Use RPR and enter the address of the property. Select “comparable” and draw a circle to specify the search location. (2 karma)
  • Pull five active, five closed, and five pending listings from MLS. (14 karma)
  • Use the MLS software or a CMA utility built-in for Matrix MLS or BrightMLS. (3 karma)
  • Use KvCore, which has a CMA feature that can create an instant CMA. (2 karma)
  • Cloud CMA can pull comps or you can search your own. (2 karma)
  • Use Brivity CMA, which is a standalone CMA builder. (1 karma)
• Suggestions for making the CMA presentation to potential sellers:
  • Speak with the seller and discuss the information from the CMA, avoiding overly complicated presentations. (31 karma)
• Tips on generating a suggested listing price:
  • MLS can give suggested listing prices and will allow manual adjustments based on appraisal data. (1 karma)
  • RPR can give an average and median price, but it is better to come up with a number on your own due to a larger knowledge of values by neighborhood or township. (3 karma)
• Pros and cons of different software and databases:
  • RPR has excellent graphics, but it cannot differentiate between one-story and two-story homes and it may have less capabilities than MLS. (1 karma)
  • Cloud CMA can pull comps or you may search your own. (2 karma)
  • Brivity CMA is a standalone CMA builder that has improved since its initial release. (1 karma)
  • KvCore can create strong CMAs with just two button presses and a few adjustments. (2 karma)
• One user asks if there are any good tutorials on Cloud CMA to use it most effectively. (1 karma)
• Some users indicate that RPR is not well-known, but it is a useful tool. (2 karma)

💭  Looking into

Comparison of the pricing and feature sets of established CMA software options

💭  Looking into

3 tools suitable for commercial real estate valuation based on features and customer reviews