I could not find the rules for this forum so if this is not allowed please let me know.
It has come to my attention recently most investors want a second opinion about a property, but it can be challenging to find an agent, especially if you have not purchased the property yet. I was wondering if the community would utilize a comp service if I offered one. I have my own business and also work for a larger one as an acquisitions manager. 5 days a week for almost 2 years now I do comps. It fluctuates with mail but I’ve comped thousands of properties. I would not offer to do comp reports on any area, it would have to be a disclosure state or a mixed state. And there would have to be some kind of data available. If it’s a dead area I obviously can’t do a report. But I’d include the property access, if I know of any utilities near by, terrain, and if it’s in a flood zone. Then I’d give you the average price per acre, the market value, the price to beat of a similar property currently on the market, and I’d give you my opinion of the property including what I think you should list it at. Obviously this is all my personal opinion based on the experience I have. Comps are more of an art form than a science so always form your own opinion.
I would offer a service like this for $25/report.
Is this something that is of interest? Please tell me if it is not a good idea also! Thanks tipsters! Y’all are great.
@randi I should clarify this is only for vacant land. I have no experience with house compared sales. If there are any structures on a property I will assume they are of no value.
Are you familiar with Prycd.com and their comp reports?
If so, can you contract and compare your personalzed service / prodcut to their comp reports on parcles?
I currently use the Prycd.com one and do quite a bit of comping on my own as well. The ones form Prycd run my $2.00/report when purhased as a bundle of 25 reports.
I periodically oursource comping specific parcles to a VA that has been doing it for me for a few years, on an hourly basis.
Hello Jay,
I apologize I did not respond quickly. I don’t check this forum much anymore. My turn around time is typically 24 hours during normal business hours.
Hi Karl,
I am familiar with prycd and used them many years ago. I haven’t looked at one of their reports in 2-3 years so I’m not sure if things have changed but I’d say there are 2 big differences in my report vs theirs. The first is I don’t lump all the comps together using a set of filters. I search using the filters, and then narrow down which properties to include through my own observations. It is not computerized. Second is my reports contain my opinions. Some people probably find this more valuable than others, but I always include any thoughts, observations, suggestions, or advice I might think of while completing the report. Each report is very individualized because of this. You can shoot me an email at mirandakiker@gmail.com if you’d like more info and a sample report.
Miranda