Where to get Comps - Newbie from Santa Monica, CA

Question

Hi All,

Where can I get good comps for a property?  Is realtor.com, using the "recently sold" filter a good source? Or is an agent the best way to do it?

I want to avoid having a listing agent give me the best comps and leave out less desirable properties. Also, being able to run the comps myself would save lots of time.

Thanks,Rodrigo

Juan Rodriguez · Answer

Hi Rodrigo,

Both options are good. Option one, use recently sold from a Real Estate sit. However, often things aren't always what they seem on some sites. Option two, get an agent to do this for you. A good agent will provide the most similar comps available. Plus, building a relationship with an agent never hurts.

Best,

Juan

Jim Jopling · Answer

I've heard on the BP Podcast (sorry, I can't remember which episode) that Zillow and Trulia buy their data from the same source, and that the values listed on those sites can sometimes vary by orders of magnitude from the comps on MLS.  I'm just staring out also, and I plan on using Zillow and Trulia to satisfy mild curiosities only.  But when it comes to the numbers I need to analyze a real deal, I'll be relying on a good agent. If I see different comps on a free website, I may challenge my agent's work on the comps, just to make sure I'm comfortable with the numbers.

Teddy Smith · Answer

Zillow has an option. If you click "listing type" and look for the yellow circle, it'll give you some decent comps.

Rodrigo Donoso · Answer

Thank you @Juan Rodriguez and @Nick Hedberg for your responses!

Nick Hedberg · Answer

@Rodrigo Donoso - I would try Zillow, Trulia and Zillow and see which one you like the best. They should all have similar data and it comes down to your preference for the interface. They all have different additional data points that are provided that can add value to your analysis. Play around with each site and see which you prefer.

Also be careful when doing comps and make sure you get to know the area. Crossing a street or boundary can have a big difference in price points.

Where to get Comps - Newbie from Santa Monica, CA

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