CMAs without Agent
Jacob WilsonPro Member
Member since 2026 · 2 posts · 2 votesHey guys, I was wondering how fellow investors get a competitive market analysis without using an agent. I am looking to purchase real estate without an agent, but that means I won't have access to any sale data in Texas. Any help would be greatly appreciated.
@Jacob Wilson, a few thoughts:
1. If you have to ask this question, what makes you believe you don't need an agent?
2. A good agent's knowledge and experience goes WELL beyond simple things like a CMA which also stands for "COMPARABLE Market Analysis" BTW.
3. Do you have a relationship with an agent? Maybe you use them on the sales side sometimes. You could simply ask them to do an occasional CMA as a courtesy.
4. Zillow allows you to search for sold listings.
5. Assessor's data. Your local assessors office usually has record of sales. Their portal may allow you to search for recent sales with specific criteria like the municipality, size, style of home, bedrooms, etc.
In the olden days before there were searchable databases of sales, an appraiser would go to the assessment office to find the comparable sales they would use for their appraisal. Now with MLS data so easily accessible that is probably less common.
6. Depending on the kind of sale, you could even hire an appraiser to do a limited scope appraisal, drive-by appraisal, desk appraisal, etc. It may go by different names, but they will often for about 1/2 price give a basic opinion of value without visiting the property itself.
Hi Kevin,
Thanks for that clarification on CMA, meaning comparable market analysis. I am only curious because I want to learn more. When my agent sends me CMAs, sometimes I don't understand why a property is comparable to my property.
If you look at the sold section of Zillow anywhere in Texas, you are able to see what has sold, but not the closing price. Unfortunately, that data is only stored in the MLS. I have also looked at my assessor's website, and I couldn't find anything. Thank you for your thoughts, Kevin.
@Jacob Wilson, you are right!
1. I just checked zillow for Dallas, TX and you are right they have no values for sold listings. When you look at the details instead of showing the property sold, they simple show the listing was removed. In my area, it shows the actual sold price.
2. I googled and found this as the probable reason:
Non-Disclosure State: Texas is a non-disclosure state, meaning sale prices of homes sold privately or without a broker might not be public record.
3. So, this is probably why zillow has no sold price values. I guess MLS access is a premium value in Texas.
4. Wondering why a property is comparable is a common question and one that isn't always simple to answer because appraisals and CMAs are "opinions of value" meaning there is some variation on how different professionals might approach it.
5. Generally speaking a comparable property is one that is like the subject property as much as possible. So, similar size, age, condition, physically close by, and sold recently.
However, in many areas it is difficult to find comparables that are like the subject property in ALL of those ways. So, the question becomes which aspect do you flex on and how to you correct/adjust for flexing on that aspect.
For example, you may look at houses that are larger for comps and then adjust the price down to account for the difference in size.
6. When in doubt, a reasonable thing to do is use more comps! The more you use, the more things will average out. Most people will use maybe 3 comps but there is no reason not to use 5-6.