How to use tools to run comps

How does Comping Work in BatchLeads? 

Within BatchLeads, comping starts with accessing “My Lists” to view saved data. After opening up the details of a property by clicking on an address, the comping tab displays properties on a map, with the subject property marked as a navy blue star and surrounding properties color-coded by status (recently sold in red, pending in yellow, and active in green). You can refine their search using filters to focus on properties sold within a certain time period and adjust for specific features like bedrooms, bathrooms, or pool presence. The aim is to find comparable properties that closely match the subject property’s size, layout, condition, and features, following established appraisal rules for accurate valuation.

How does BatchLeads determine the Estimated Value? 

After selecting appropriate comps based on size, condition, and features, you can then utilize BatchLeads’ built-in calculator to estimate the subject property’s value. This estimation is derived by taking the average price per square foot of the selected comps and multiplying that average by the subject property’s square footage. Running the rest of your numbers will depend on your focus. For example, investors estimating the property’s potential value post-renovation, would need to be mindful of how much repairs may cost, how much they would like to make on the deal, etc. Join the BatchService Community Here to connect with other real estate professionals and ask how they run their numbers

How can I create an organized Comp Report? 

BatchLeads offers a feature to create structured comp reports. You can mark preferred comps with a thumbs-up, compile them into a selection, and generate a PDF report. This organized report serves to clarify and justify the valuation method used, making it easier to communicate the current or after-repair value of the subject property to interested parties, including potential buyers or stakeholders.