How do you get comps for a property without going through a agent

Question

I just want to know how to get the market value without going through a RE agent?

Peter Philando · Answer

I agree that you need to develop a good working relationship with a realtor to move your business farther. However, its in your best interest to try to figure out pricing in your farm area. If you find a deal that is off market and you need to make a quick decision, then knowing this information puts you in a more informed position. I use a combination of many online ARV estimators, plus my realtor. I create a spreadsheet in Google Sheet where I keep track of potential deals. One tab has the basic deal info, like property address, property appraiser assessment, asking price, offer price, potential equity and cash out equity. The "comps" tab is an average of:

https://icomps.com/

https://express.realquest.com/search.aspx

https://www.realtor.com/

https://www.realtytrac.com/

https://www.eppraisal.com/articles/what-is-my-house-worth/

https://www.trulia.com

https://www.redfin.com/

This should give you a quick glimpse of the property value, use a conservative ARV to do your numbers, and check the property appraiser assessed value (which is typically below fair market value). Run numbers on properties constantly to hone your skills. The spreadsheet allows me to go back and check numbers on sold properties on the list and also see potentially what other investors paid, renovations done, and ARV-to-sale price.

Potential Deal Spreadsheet

Hope this was of some help

Nathan Gesner · Answer

Zillow can be a start but it can also be WILDLY misleading.

You have to study the market. Go to realtor.com or zillow.com and look at comparable homes that are actively listed on the market today. That will give you an idea of what a property will list for but not necessarily what it will sell for. Many web sites will tell you the sales price of a home the last time it sold but it will be a slow, time-consuming process to collect that data and analyze it.

I don't know what your time is worth but you could spend several hours (or more) trying to determine market value on a home whereas a good REALTOR could tell you in 30 minutes. This would get you a more accurate number and free up your time for making money.

Have you considered finding a REALTOR to partner with? They can do the work and you use them for buying/selling?