Comp list

11 Replies

Hey there, Im actually going out on a limb here. I am a newby so be nice. 

I worked a deal in Plano, Texas last year. A great property but trusted the agent to much I guess. When I was doing the research on the property, I was told that she could not pull comps in the area because it was illegal in the State of Texas to do so. Is that correct?

Thanks in advance. 

No that's actually one of the agents required duty to you as a client. Let me know if you need a real estate agent in the future, I will be gladly to help. 

@Melissa Johnson That is CRAZY!  Agents use comps to set price, set appraisals, prove to the mortgage company what it is worth, AND help you make the right decision on what to offer for that home.   You need someone else to be YOUR agent. Like @Gary Wong said.  You need a REAL estate agent, not an idiot who thinks less or You.  Please forgive the  capital letters and words I'm not shouting I want to make sure you get IT.  Best of Luck.  

Plano is such a Hot Market you will find agents who think they don't have to work for the commission they receive when the papers are signed.  We purchased a home in 08/14 felt like the agent did us wrong.  Then we sold it 06/15 and fell in love with our agent (different person totally) because she worked Hard for us for the same commission as first agent.  

@Melissa Johnson

Hi Melissa!

I purchased a home last year in that area. My agent sent me recently sold comps and rental comps so I could see how much I would get in rent for the property. Another thing he sent me was a competitive market analysis which makes it easier to look through the data by giving you categories to look through. Basically the same thing.

Now did your agent actually say they couldn't give you comps AND that it was illegal?! 

The house was Banked Owned and was a steal for far West Plano. I asked her for a copy of the recently sold comps so i could compare obviously. She told me that Texas State law now prohibits comps from being given out. What really makes me more mad is that we lost the deal that was going to a Navy family from Cali who needed a place within 45 days or they would be living in a hotel. 

I am a newbie. After this, I decided to get my license in like everything. Just so I can do the deals myself. 

The only thing I could possibly think of is your realtor must have thought you were asking for an appraisal because than that would be illegal in a lot of states if you do not have a license. I can pull comps here in Florida, but I cannot conduct an appraisal of the house lol. Crazy

No, it was not those. I can drive down the street and get a list of those from the County CAD. I honestly now do not think she has ever worked with investors and didn't want me to see the sold comps. For some reason, I honestly have no idea why. I would think she would want me to see them since its possibly the hottest zip code in the entire State. 

@Melissa Johnson

I've had too many of those types of experiences with agents myself, so I got my license too lol. Good luck with everything and keep me posted if you find any awesome cash purchase deals!

-Arun

Originally posted by @Arun Chandra :

@Melissa Johnson

I've had too many of those types of experiences with agents myself, so I got my license too lol. Good luck with everything and keep me posted if you find any awesome cash purchase deals!

-Arun

 Thank you and I sure will. 

Originally posted by @Melissa Johnson :

Hey there, Im actually going out on a limb here. I am a newby so be nice. 

I worked a deal in Plano, Texas last year. A great property but trusted the agent to much I guess. When I was doing the research on the property, I was told that she could not pull comps in the area because it was illegal in the State of Texas to do so. Is that correct?

Thanks in advance. 

The nice way to put it, is that that was a heck of a baloney sandwich. That she could not pull comps is one thing (which some realtors don't)... that it was illegal? That's like getting into a cab and hearing that it is illegal for the cab driver to tell you how many miles to your destination or the rate per mile.