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Real estate comps
Posted on 4/15/15 at 11:40 am
Posted on 4/15/15 at 11:40 am
I'm in the process of looking for a house with a few acres and the way in which real estate agents look at comps is so idiotic. They just take the property value and divide by above ground finished square footage and come up with a $/sq foot metric. Why don't they back out the value of land, other improvements (barns, etc.), account for finished basement square footage, etc? Seems like that would be a better way to isolate what you're actually paying for the house. Is it just laziness on their part?
This post was edited on 4/15/15 at 11:41 am
5
Posted on 4/15/15 at 12:05 pm to GeneralLee
quote:
Is it just laziness on their part?
Yes
ETA: I've seen realtors who do it both ways.. There are some good rural real estate agents up here in Alabama that I've seen cost out everything (timber, other improvements, excess land)
This post was edited on 4/15/15 at 12:13 pm
Posted on 4/15/15 at 12:09 pm to GeneralLee
Well strike out on your own, invent your own system, and make the world adhere to it.
Posted on 4/15/15 at 12:14 pm to GeneralLee
Real estate agent hate is strong this week.
Posted on 4/15/15 at 12:41 pm to GeneralLee
They should either know the area or do their research and only pick homes that are very close to what you have. (builder, area, upgrades and amenities, etc.)
Posted on 4/15/15 at 12:50 pm to GeneralLee
quote:
the way in which real estate agents look at comps is so idiotic.
So you think all agents are the same?
Well they are not……but please continue
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