Running Comps in a non-disclosure state?

7 Replies

Im in Indiana which is a non-disclosure state to trying to find comps on some properties has been quite the issue. I have used many of the free sites like zillow, homesnap, realtor, and trulia with no success. This has been keeping me from getting started, for the simple fact that I am unable to determine an ARV let alone an offer on a property. Im curious as to what my options are for running comps in my state since it is a non disclosure?

That's a tough one for sure... as you really never know what true value is because you can't see a lot of the off market deals.

Hi @Pedro Oliva  

Have you considered using an agent to run the comps? I understand that you are looking at off-market deals, but a lot of newer agent will be okay running comps for you in exchange for future business. You can always take some agent to lunch and discuss your business and start a good business relationship with the agent.

@Sharad M., Yes I have thought about that but Im so new and have no idea how to find a new agent or where to even begin to find one. I have actually put up a craigslist ad offering money in exchange to be an unlicensed assistant access, obviously no luck there. Its a catch 22 situation here. 

@Pedro Oliva My wife and I had the same challenge getting started, so I feel your pain. Without the tools/resources to run a reliable CMA we were very hesitant to do anything. Two things that helped us move past that point was the local REI group and as a result of that group a product that was introduced that allows us to run comps based on MLS data.

Through the REI group we were able to meet some agents that were willing to run comps for us and provide some assistance ensuring we understood the details of those results. Please feel free to contact me via the contact info on my profile as I would be glad to help. Heck now that we can run comps I would be glad to run some for you to help you get started.

Here are the two resources that I mentioned above:

CIREIA

InvestWay - These guys have a free trial

Hope that helps,

Glenn

@Pedro Oliva  - Forgot to mention that it is my understanding there is a counter part to CIREIA in northern Indiana.

@Glenn Antoine   thank you so much for the help! I plan on attending the next local  NIREIA meet and hopefully make some connections. Im going to take a look at InvestWay. Really appreciate the help! 

Originally posted by @Pedro Oliva :

@Sharad M., Yes I have thought about that but Im so new and have no idea how to find a new agent or where to even begin to find one. I have actually put up a craigslist ad offering money in exchange to be an unlicensed assistant access, obviously no luck there. Its a catch 22 situation here. 

 I would suggest calling the larger RE firms in your area and asking to speak to the "investor specialist".  I would also suggest only working with an agent that is an investor as well.  If you can't find an investor/agent, then just a good investor friendly agent with experience will do.

Then as mentioned above, you should be able to find a few agents lurking around the local meetings as well.

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