If you've ever felt lost when researching real estate programs or apps--good news. We're publishing a series of "Buyer's Guides" that feature important questions to ask and options to consider before making a new purchase. These are mini versions of our 2013 Technology Guide, each focused on a specific category of product. Today, we're kicking things off with a guide to CMAs. Read on to learn more.

What is a CMA?

CMA stands for Competitive Market Analysis. Traditionally, these reports for seller clients provide recent comparable sales and allow agents to craft their own recommendation for listing price. However, as a product category, it is quickly expanding to include a variety of other reports for both buyers and sellers, often automated to require minimal input from the agent.

Questions to Ask

There are some important questions to ask when buying any real estate technology product and some that are unique to choosing a CMA.

First, let's look at general questions you'll want to ask.

• What are my objectives for this piece of technology and will this product help me achieve those objectives?
• What is my budget?
• Does my broker, MLS, or Association have any agreements with any vendors that might help me obtain this product at a discount or for free?
• Does this product work with my current computer operating system?
• What kind of customer service and training programs are available? Are there webinars and, if so, are they recorded so you can view them at any time? Is the vendor's online help sufficient?
• Is this technology Web-based? If it is, how much functionality will be available when the tool is being used offline.