Enlist a customer relationship management(CRM) toolASAP. Whether you’re just starting out in real estate or are a seasoned pro, one of the best ways to ensure that you have a constant source of business is by nurturing your leads. Talk to them, engage with them, and answer their questio...
In real estate, comps are similar homes in your area that have sold relatively recently- that is the most straightforward definition. The more the comparable properties share in common with the seller’s house, the better. Real estate agents refer to these as “sold comps.” Comparables are p...
Real Estate comps are usually determined by one of two parties - a licensed appraiser or a real estate agent. Appraisers or real estate agents will hand-select similar properties in the same neighborhood if possible or a nearby area. For example, if you are selling a home with 3000 square ...
In real estate, comparables — known as comps for short — are one of the most important tools used to determinehow much a home is worth. Whether you’re trying to price your home for sale, buy a new one or just gauge property values in your area, here’s a rundown of everything ...
How to Run Comps: Determining the Property’s After Repair Value (ARV) The After Repair Value (ARV) is the estimated value of a property after all necessary repairs and updates are made. This is crucial because it helps you determine how much the property can sell for once it’s fixed ...
Getting started in real estate investing can be overwhelming. Not knowing what steps to take or what to say, it can be intimidating. It’s one of the main reasons would-be investors never get started. Fromlead generationto financing to business operations, there’s a LOT of information you...
But note that not all agents agree it’s worth the price. “I’d recommend skipping an appraisal andasking an agent to run comps for youinstead,” Breeckner says. “Considering the cost of an appraisal, it just makes more sense to talk to a few real estate agents first.” ...
while underestimatinga home’s valuemight leave money on the table. To price your home perfectly from the start, consult localreal estate comps. This information about recently sold properties in your area gives you an idea of what comparable homes around you are selling for, thus helping you ...
With this information in hand, you can make a better assessment of how much you should ask for your own property, though it can help to consult a real estate agent and a skilled property assessor. You can also use comps in your own house search and price negotiations. If you are interes...
Comparables, or comps, are used to establish a reasonable price for an asset based on the prices recorded recently for similar assets. Comparables are important to pricing decisions in many industries but are essential in real estate. They are an important factor in determining the fair value of...