I’ve long thought brokerages (or franchises) should place a manually created CMA on every listing in their “farm”. Publicly.
Read this post from 2015 about a public marketplace for CMAs.
You may have seen Zillow is testing “Home Tour Highlights” (Inman story). This is the first step to doing exactly that. Once ZG get agents leaving comments on listings they’ve visited in person — it wouldn’t be a stretch to imagine ZG asking agents to leave public CMAs on those same properties.
Smart, Zillow. Smart…
Here’s the industry counter (no need to do this nationally). Create a real CMA, involving a real agent, for every home in a specific subdivision within your farm. Put that into a spreadsheet. Hack together Google maps and some pushpins. Then send a postcard to every owner in that subdivision (or knock on their door). The message is “Want to know what a real agent believes your house is worth?” Send it. Gauge reaction. Repeat.
Will the industry counter quick enough to deliver the consumer win on their own before Zillow delivers another massive win to the consumer? I’ll leave you to think on that one.