Generating comps in new home areas no problem for RPR® maps and reports
New homes sales specialist Dave Kidder places a lot of emphasis on finding accurate comps in areas without a lot of market history. Doing so successfully sets him apart in Fresno, California’s “builder trade in program.”
Recently, Dave had a listing where it was challenging to find comparable homes in an area saturated with new homes. Knowing how critical comps are to accurately pricing a home, Dave found himself needing a way to expand his search to find properties that would work for his CMA.
By using RPR® and widening his search to a six-mile radius, Dave was able to find areas very comparable to the seller’s neighborhood. After creating a comprehensive report, he met with an appraiser and handed over the RPR report. The appraiser then came back with the same value Dave showed in RPR. He believes that without the RPR report, the appraiser would not have valued the house at the selling price.
RPR goes further than just the transaction. It enables Dave to keep his clients informed of market changes in the area, as well as how the economy is changing and affecting the pricing and values of homes. He uses the mapping features in RPR to quickly assess the properties in an area. “The mapping features (in RPR) give a very visual demonstration of the value and condition of homes in the area, and whether they’ve sold, expired, distressed, right at the clients’ hands. It helps them establish the value in their own mind.”