Is this normal?

Jennifer Roussel
OP
Member since 2025 · 5 posts · 5 votes
1y
Quote from @Nicholas L.:

@Jennifer Roussel
hello! happy to help, but not sure what your specific question is.
it can be difficult to find investment properties by just browsing online. many sellers (as you may know) look to get whatever the highest price for a similar property was, regardless of how much updating their own property needs. they don't care that it needs new appliances or that their furnace is 47 years old or that it has no parking. their neighbor 10 houses away got X and so they want X + $1.
you may need to analyze dozens or even hundreds of on market listings, and also look off market to find something that has potential.
hope this helps

My question is more whether it’s normal for this area for a buyers agent to only use 3 very poorly comparable (ie not comps whatsoever) to tell their client, and I quote, “listed prices tell us the market value”.
where I live, that’s absurd. I told her my primary residence is worth about 1.5 million today, roughly. I could list it for 3 million tomorrow but that doesn’t mean it’s worth that if it ends up selling for 1.2 after sitting on the market and similar properties are going for 1.2-1.4.

I admittedly do not know this market well. I don’t know if this is common practice or if I need a new agent once the contract runs out. I am in no rush, I will simply abandon my search and run the contract out. Agent has not provided me a single property to look at. All I had to find on my own.

0 Reply

Bill B.

Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes

1y

Simply switch realtors. I wouldn’t work with a realtor I didn’t like, much less one that couldn’t understand my concerns. Good luck.

6 Reply

Obed Calixte

Real Estate Agent · St Petersburg, FL · Member since 2019 · 320 posts · 182 votes

1y

If that's the response you are getting back, it's best to find someone else.

I can't speak to the market you're looking at specifically-- However a mix, with most weight on sold and pending (if listing agent is able to share terms) and a bit of weight on active is common in balanced and buyer markets.

Review your agreement. You may not have to wait out the entire agreement.

Jennifer Roussel
OP
Member since 2025 · 5 posts · 5 votes
1y
Quote from @Obed Calixte:

If that's the response you are getting back, it's best to find someone else.
I can't speak to the market you're looking at specifically-- However a mix, with most weight on sold and pending (if listing agent is able to share terms) and a bit of weight on active is common in balanced and buyer markets.
Review your agreement. You may not have to wait out the entire agreement.

I did. There is no termination clause with terms or how to dissolve the contract. Only a date
0 Reply

Cliff BennerBusiness Member

Accountant · Denver, CO · Member since 2020 · 392 posts · 183 votes

1y

I invest in Dayton, my first purchase went terrible because my realtor did a bad job on comps as well. I now use @Tyler Everidge, who I found from here on BP and he has done a better job at presenting me comps and his reason for ARVs. I have not used him yet, just due to my businesses have me working more than ever, but I have how he presents his estimates.

Dayton has been very hard to see how the market works, my rental would go on the market for $160k today, but a mile away similar comps can be $100-$250k. It just seems to literally be block by block.

In my opinion it is a Cash Flow market, not Appreciation. even at 7% I am making the 1% rule and could find more in that market that make the same thing but when I go for my next one, I will focus on the area being a better Class and get a little less Cash Flow for less of a headache.

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Jennifer Roussel
OP
Member since 2025 · 5 posts · 5 votes
1y
Quote from @Cliff Benner:

I invest in Dayton, my first purchase went terrible because my realtor did a bad job on comps as well. I now use @Tyler Everidge, who I found from here on BP and he has done a better job at presenting me comps and his reason for ARVs. I have not used him yet, just due to my businesses have me working more than ever, but I have how he presents his estimates.
Dayton has been very hard to see how the market works, my rental would go on the market for $160k today, but a mile away similar comps can be $100-$250k. It just seems to literally be block by block.
In my opinion it is a Cash Flow market, not Appreciation. even at 7% I am making the 1% rule and could find more in that market that make the same thing but when I go for my next one, I will focus on the area being a better Class and get a little less Cash Flow for less of a headache.
This is great info, thank you. Yes, this area is most definitely cash flow vs appreciation. Not 10000 percent sure what exactly we will do with the property once we acquire it (yet). May be STR and we use it when in town depending on location and distance from relatives. May be long term rental. Keeping our options open until we find what we’re looking for, the legalities of STR in that location, etc. mainly looking within 45 minutes of Lebanon as a target zone for proximity to family.

how much headache are you getting exactly? That was my biggest fear for investing this area
1 Reply
Cliff BennerBusiness Member
Accountant · Denver, CO · Member since 2020 · 392 posts · 183 votes
1y
Quote from @Jennifer Roussel:

Quote from @Cliff Benner:

I invest in Dayton, my first purchase went terrible because my realtor did a bad job on comps as well. I now use @Tyler Everidge, who I found from here on BP and he has done a better job at presenting me comps and his reason for ARVs. I have not used him yet, just due to my businesses have me working more than ever, but I have how he presents his estimates.
Dayton has been very hard to see how the market works, my rental would go on the market for $160k today, but a mile away similar comps can be $100-$250k. It just seems to literally be block by block.
In my opinion it is a Cash Flow market, not Appreciation. even at 7% I am making the 1% rule and could find more in that market that make the same thing but when I go for my next one, I will focus on the area being a better Class and get a little less Cash Flow for less of a headache.
This is great info, thank you. Yes, this area is most definitely cash flow vs appreciation. Not 10000 percent sure what exactly we will do with the property once we acquire it (yet). May be STR and we use it when in town depending on location and distance from relatives. May be long term rental. Keeping our options open until we find what we’re looking for, the legalities of STR in that location, etc. mainly looking within 45 minutes of Lebanon as a target zone for proximity to family.

how much headache are you getting exactly? That was my biggest fear for investing this area

My headache is actually finding down payments and time to analysis the properties, I 10x my Bookkeeping Business in 1 year and doubled my Candle Business in 1 year so managing them takes me away from Real Estate. For my exact story in the beginning when I had a bad team, check out episode #610 of the BP podcast, I was actually on it discussing my terrible time. Since then I did fire my old team, except my Mortgage Broker, and replaced them. My new PM is great and has good systems in place, the location of my rental is a C- and doesn't get the most attractive tenants but decent ones, while it is also unique, having 4 bedrooms. So this makes me have to Manage my PM a bit more, but an hour a month for that and bookkeeping is worth the $400 in Accounting Cash Flow.
With my current team, I trust them, but verify every detail myself by asking them to provide me their comps and reasoning and then question them if I don't agree with them or understand, as I am an Accountant/Investor, not a PM or Realtor who look at things differently. I created my Buy Box and explained to Tyler, what I want and expect from him and a future property, I asked him to define the location we should look and why. I was upfront with him and told him I want to buy and have him be my realtor for a long time, so if he pushes me to buy a bad place I won't use him again and won't recommend him.
Trust but Verify is key, but as an OOS Investor, it is hard to get an ARV in my head from this market, knowing that the house two blocks down may or may not be a good comp because of how that Market is. I have to rely on my team, which is good because I don't want to waste his time while I am busy, so I don't reach out until I know I am ready to buy something. I just analysis until I am ready.
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1 Reply

Tyler EveridgeBusiness Member

Real Estate Broker · Dayton and Cincinnati, OH · Member since 2019 · 80 posts · 74 votes

1y

Thanks for the mention @Cliff Benner ! Hey @Jennifer Roussel , I will send you a DM right now with my information so you can reach out when you are free. Happy to help!

Jennifer Roussel
OP
Member since 2025 · 5 posts · 5 votes
1y
Quote from @Tyler Everidge:

Thanks for the mention @Cliff Benner ! Hey @Jennifer Roussel , I will send you a DM right now with my information so you can reach out when you are free. Happy to help!
Thank you
0 Reply

Bruce WoodruffPro Member

Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes

1y

I've always used a mixture of 'Actives' and 'Solds'...Solds within 3-6 months. I weight the Solds a little more of course.......but the actives do have some value.

Cameron Valentine

Lender · Houston · Member since 2023 · 14 posts · 5 votes

1y

Definitely agree here, Best to find a new one! But if you're locked into your agreement just simply bring up your grievances and see if they can maybe step down from the contract obligations or even just have them perform better on your behalf.

Roland S.

Lender · Austin, TX · Member since 2025 · 98 posts · 19 votes

1y

@Jennifer Roussel not smart to work with people you may not like. work with people with good character, morals, ethics, etc. Kind people.

[email protected]786-494-6766

Robert EllisBusiness Member

Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes

1y

Quote from @Jennifer Roussel:

I am not new to buying primary residences, but am to investments and secondary properties.

I’m looking in the Middletown/dayton burbs at places now, but I live on the east coast. We have family there and visit often.

our realtor is only using active listings as comps. I’ve told her I’ve never heard of a buyers agent solely relying on active listings to gauge value for an offer. A mix of sold/pending/active? Sure, ok. But three active listings and NONE were real comps? What?

Looking at a listed two bed but it’s only one bed (barely- the only legal bedroom is 12x7) legally bungalow. Other room they call a bedroom is 63 sqft and unusable as a habitable bedroom due to layout and below 70 sqft. Priced at 100k, on market 58 days. Not completely updated. No appliances. Systems unknown age. Yard needs TLC. Looks to have some fascia board rot that’ll need to be addressed.

Sold comps within 45 days in this area tell me similar 2 beds sold between 70 and 85k. ALL sold for under list- one was listed at 139,900 and sold for 98. None were less than 5k under list when sold.

the market is trending upwards looking at pending sales but we don’t know what they are under contract for, which is problematic given what we know about the closed properties in Jan and Feb.

My Realtor seems to think the price is justified by sending me three homes active listings as “comps”- one in another town 220 sqft bigger), one legitimate 3 bedroom with a half acre of land and a garage (vs 0.1 acres no garage and no off street parking), and one (have to chuckle) a brand new home essentially- completely 100% renovated inside and out, 150 sqft bigger all new systems.

There are a minimum of 20 real comps. I sent her 8 within 45 days. I’m told I “don’t understand their market and houses are holding value here”

Am I missing something?

wrong market wrong agent. if you have to post 6 paragraphs asking for advice on a realtor the problem is the realtor. if you are looking up comparable sales for your realtor you are with the wrong realtor. saying you are newer too and asking about if it's normal also shows you should get with someone with more experience. a lot of people joke about columbus ohio and how many agents there are in the market active on here but at the same time that gives you a lot of options. depending on your liquidity and funds I'd look around. I wouldn't touch Dayton. there's 5x better markets. I'm from Toledo and I wouldn't touch Toledo. as a newer investor I'd recommend larger MSAs with experienced teams. look at new construction as a strategy that's what we do. look at others as well but get on 5-10 calls and see what market and strategy is best for you. put the city names you are interested in the most and see what happens. I live in miami and I have the miami keyword on and no one ever posts about it. prices are sky high and I moved from columbus. I live here and pay rent from money I make building and doing land development and entitlement in my city that I lived in for 14 years and I'm still back 2-3 times a month to check on things. good luck, let me know if I can be of any help!

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[email protected]859-443-4952

Sam McCormackBusiness Member

Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes

1y

Quote from @Jennifer Roussel:

I am not new to buying primary residences, but am to investments and secondary properties.

I’m looking in the Middletown/dayton burbs at places now, but I live on the east coast. We have family there and visit often.

our realtor is only using active listings as comps. I’ve told her I’ve never heard of a buyers agent solely relying on active listings to gauge value for an offer. A mix of sold/pending/active? Sure, ok. But three active listings and NONE were real comps? What?

Looking at a listed two bed but it’s only one bed (barely- the only legal bedroom is 12x7) legally bungalow. Other room they call a bedroom is 63 sqft and unusable as a habitable bedroom due to layout and below 70 sqft. Priced at 100k, on market 58 days. Not completely updated. No appliances. Systems unknown age. Yard needs TLC. Looks to have some fascia board rot that’ll need to be addressed.

Sold comps within 45 days in this area tell me similar 2 beds sold between 70 and 85k. ALL sold for under list- one was listed at 139,900 and sold for 98. None were less than 5k under list when sold.

the market is trending upwards looking at pending sales but we don’t know what they are under contract for, which is problematic given what we know about the closed properties in Jan and Feb.

My Realtor seems to think the price is justified by sending me three homes active listings as “comps”- one in another town 220 sqft bigger), one legitimate 3 bedroom with a half acre of land and a garage (vs 0.1 acres no garage and no off street parking), and one (have to chuckle) a brand new home essentially- completely 100% renovated inside and out, 150 sqft bigger all new systems.

There are a minimum of 20 real comps. I sent her 8 within 45 days. I’m told I “don’t understand their market and houses are holding value here”

Am I missing something?

That definitely seems like the agent is the issue. I don't like to dock agents "points" for inexperience as long as they are learning/eager to learn and have the hustle. But it seems like you have been quite patient with her and she hasn't fully grasped the "learning" part of this yet. I'm sure there are details you didn't cover because it is just a post, but let me know if you have questions. Without stepping on toes, would be open to a phone call if that would help at all. Let me know!

Sam McCormack Realtor

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Dan H.Pro Member

Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes

1y

@Jennifer Roussel

Your correct. The comps should be closed sales if there are closed sales that are appropriate comps.

In addition, the comps should be as similar as possible. Ideally this means same Bedroom and bathroom count and within a couple hundred feet.

The comps your real estate agent provided seem to be poor and likely warrant getting a different Real Estate agent.

Good luck

Logan Lambert

Lender · Kingsville, MD · Member since 2023 · 103 posts · 35 votes

1y

Quote from @Jennifer Roussel:

I am not new to buying primary residences, but am to investments and secondary properties.

I’m looking in the Middletown/dayton burbs at places now, but I live on the east coast. We have family there and visit often.

our realtor is only using active listings as comps. I’ve told her I’ve never heard of a buyers agent solely relying on active listings to gauge value for an offer. A mix of sold/pending/active? Sure, ok. But three active listings and NONE were real comps? What?

Looking at a listed two bed but it’s only one bed (barely- the only legal bedroom is 12x7) legally bungalow. Other room they call a bedroom is 63 sqft and unusable as a habitable bedroom due to layout and below 70 sqft. Priced at 100k, on market 58 days. Not completely updated. No appliances. Systems unknown age. Yard needs TLC. Looks to have some fascia board rot that’ll need to be addressed.

Sold comps within 45 days in this area tell me similar 2 beds sold between 70 and 85k. ALL sold for under list- one was listed at 139,900 and sold for 98. None were less than 5k under list when sold.

the market is trending upwards looking at pending sales but we don’t know what they are under contract for, which is problematic given what we know about the closed properties in Jan and Feb.

My Realtor seems to think the price is justified by sending me three homes active listings as “comps”- one in another town 220 sqft bigger), one legitimate 3 bedroom with a half acre of land and a garage (vs 0.1 acres no garage and no off street parking), and one (have to chuckle) a brand new home essentially- completely 100% renovated inside and out, 150 sqft bigger all new systems.

There are a minimum of 20 real comps. I sent her 8 within 45 days. I’m told I “don’t understand their market and houses are holding value here”

Am I missing something?

Hey Jennifer,

You are right in the way you are thinking. Active comps sometimes though are considered per the appraiser to help support the opinion of value but they always use 3 to 5 sold comps within the last 6 months to really gauge that number. If your agent is not looking at sold comps at all then I would look for an agent who understands how to comp properties because you do not want to end up with a property that you are upside down on.

Marcus Auerbach

Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes

1y

Quote from @Jennifer Roussel:

I am not new to buying primary residences, but am to investments and secondary properties.

I’m looking in the Middletown/dayton burbs at places now, but I live on the east coast. We have family there and visit often.

our realtor is only using active listings as comps. I’ve told her I’ve never heard of a buyers agent solely relying on active listings to gauge value for an offer. A mix of sold/pending/active? Sure, ok. But three active listings and NONE were real comps? What?

Looking at a listed two bed but it’s only one bed (barely- the only legal bedroom is 12x7) legally bungalow. Other room they call a bedroom is 63 sqft and unusable as a habitable bedroom due to layout and below 70 sqft. Priced at 100k, on market 58 days. Not completely updated. No appliances. Systems unknown age. Yard needs TLC. Looks to have some fascia board rot that’ll need to be addressed.

Sold comps within 45 days in this area tell me similar 2 beds sold between 70 and 85k. ALL sold for under list- one was listed at 139,900 and sold for 98. None were less than 5k under list when sold.

the market is trending upwards looking at pending sales but we don’t know what they are under contract for, which is problematic given what we know about the closed properties in Jan and Feb.

My Realtor seems to think the price is justified by sending me three homes active listings as “comps”- one in another town 220 sqft bigger), one legitimate 3 bedroom with a half acre of land and a garage (vs 0.1 acres no garage and no off street parking), and one (have to chuckle) a brand new home essentially- completely 100% renovated inside and out, 150 sqft bigger all new systems.

There are a minimum of 20 real comps. I sent her 8 within 45 days. I’m told I “don’t understand their market and houses are holding value here”

Am I missing something?

No you are not. I got licensed in 2015 because I could not find an agent how knew more than me. And frankly my fault, I did not know how to look. BP is actually a good place to start. You can terminate any buyer agency agreement in writing, just not for the property you have already seen with that agent.

I assume you are in Ohio? Hot sellers market, look at the stats. You are at half of median, that's D minus. 100k and 58 days on market sounds like a garbage deal nobody else wanted.. Find an agent who also invests and find out where they put their money.

[email protected]614-490-1163

Kerlous TadresBusiness Member

Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes

1y

Quote from @Jennifer Roussel:

I am not new to buying primary residences, but am to investments and secondary properties.

I’m looking in the Middletown/dayton burbs at places now, but I live on the east coast. We have family there and visit often.

our realtor is only using active listings as comps. I’ve told her I’ve never heard of a buyers agent solely relying on active listings to gauge value for an offer. A mix of sold/pending/active? Sure, ok. But three active listings and NONE were real comps? What?

Looking at a listed two bed but it’s only one bed (barely- the only legal bedroom is 12x7) legally bungalow. Other room they call a bedroom is 63 sqft and unusable as a habitable bedroom due to layout and below 70 sqft. Priced at 100k, on market 58 days. Not completely updated. No appliances. Systems unknown age. Yard needs TLC. Looks to have some fascia board rot that’ll need to be addressed.

Sold comps within 45 days in this area tell me similar 2 beds sold between 70 and 85k. ALL sold for under list- one was listed at 139,900 and sold for 98. None were less than 5k under list when sold.

the market is trending upwards looking at pending sales but we don’t know what they are under contract for, which is problematic given what we know about the closed properties in Jan and Feb.

My Realtor seems to think the price is justified by sending me three homes active listings as “comps”- one in another town 220 sqft bigger), one legitimate 3 bedroom with a half acre of land and a garage (vs 0.1 acres no garage and no off street parking), and one (have to chuckle) a brand new home essentially- completely 100% renovated inside and out, 150 sqft bigger all new systems.

There are a minimum of 20 real comps. I sent her 8 within 45 days. I’m told I “don’t understand their market and houses are holding value here”

Am I missing something?

Hey Jennifer!

We only use properties that have sold as comps. Active deals should not count because that is not the final price. An investor-friendly agent is going to point you in the best direction when making offers on investment properties

Kerlous Tadres | Reafco Real Estate539 Reviews

[email protected]417-464-6915

Gary NelsonBusiness Member

Real Estate Agent · Branson, MO · Member since 2016 · 141 posts · 93 votes

1y

When running comps, you want to approach it the way an appraiser would—look at active listings, properties under contract, and closed sales within the last year. Pay the most attention to recent closed sales since, but under-contract properties can give you a sense of where the market is moving. Active listings show competition, but they don’t tell you what buyers are actually willing to pay.

If you’re serious about investing, working with an agent who is also an investor is a game-changer. They’ll understand how to run comps with an investor’s mindset—factoring in rental potential, rehab costs, and market shifts—not just the typical “retail” value. A good agent should help you make data-driven decisions, not just push you into a deal.

Gary Nelson Real Estate, EXP Realty, LLC553 Reviews