The goal for every real estate agent is to create residential real estate comparables that propel buyer clients through to contracts and closings—over and over again.
In today’s climate, delivering detailed comparables to homebuyer clients is more vital than ever before. With the very essence of why a buyer agent is a crucial player in the home-buying process under scrutiny following all the commission lawsuit drama, creating detailed, must-have comps is one of the very best ways to show potential clients your value.
And there’s an additional plus as well. The precise, important information gathered for comps can be used to not just satisfy current clients, but generate future ones as well.
In this exclusive RISMedia Premier report, experienced real estate professionals detail the tools they use and strategies they employ to create comps that produce sales.
Key takeaways include:
- Comps should include house age, number of rooms, lot size and topography, condition, square footage, location on block, number of bedrooms, number of bathrooms, neighborhood amenities, school district and taxes.
- There’s no such thing as a generic comp when it comes to real estate, unlike buying or selling a car, where condition is everything but location means nothing.
- Urban and rural comps can have very different musts, with, for example, parking crucial for urban and open spaces vital for suburban, with each unimportant for the other.
- Comp “flaws” can be minor or major, with location often being major. Two homes can be practically identical, but one may be at the end of a quiet cul-de-sac while the other has a highway across the street.
- Exaggerated comp claims, such as a large closet called a bedroom, can be negated by visiting the houses before sharing information with clients.
Section 1: Understanding Agent/Appraiser Comps
Why comparables may be the most important information you can provide to homebuyer clients, and how to deliver the specifics that tell the tale precisely.
Section 2: How to Create Perfect Comps
Deciding which basics and add-ons make sense for each property results from understanding neighborhoods and the subtle differences from block to block.
Section 3: City vs. Rural Comps: The Differences
The obvious differences between co-ops and condos in a city and rural single-family homes, and how to present the pluses and minuses to homebuyers.
Section 4: Working With Comp ‘Flaws’
Zero in on subtle, likely undesirable aspects to a home so as to show clients your value for the commission you hope to earn through an eventual sale.
Section 5: Debunking Inflated Comp Claims
How to recognize misleading or problematic specifics and work around them to present realistic property values so clients can make informed decisions.
