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How to Run Comps Using Propelio

Running comparable sales, or “comps,” is a crucial step in determining property values. Propelio makes this process straightforward. Here’s a step-by-step guide to using Propelio for running comps.

Getting Started

First, open the lead you are analyzing. Look at the top right-hand corner of the lead interface. You’ll see a green button. Click it to go to the comparable sales screen.

Setting Your Criteria

Once you’re on the comparable sales screen, a map with several properties will load. To refine your search, use the criteria box on the right. You can adjust:

  • Beds and baths
  • Square footage
  • Year built
  • Distance from the subject property (e.g., half mile, quarter mile, one mile)
  • Months of data to pull (e.g., three months, six months, 12 months)

Set your criteria to get the most accurate value for your property. After setting, hit the search button, and the map will update with new data.

Analyzing the Properties

Scroll down to see a list of properties. You will find details such as subdivisions, bed and bath counts, square footage, and year built. At the bottom, average values for these columns appear. Use the thumbs-up, thumbs-down, and question mark icons to classify each property:

  • Thumbs Up: This is a comp.
  • Thumbs Down: This is not a comp.
  • Question Mark: Not sure yet.

The list will also include active and expired properties.

Using the Map

Different colored pins represent different property statuses. Click any pin to see detailed property information, including photos, bed and bath counts, square footage, and financing details. You can then decide if it’s a comp using the thumbs-up or thumbs-down buttons.

  • Green Pin: Active properties
  • White Pin: Expired listings

Managing Your Selections

As you navigate the map, you can quickly decide which properties to include or exclude. If there are no photos available, it will indicate that. A thumbs-down will remove the property from the map, while a thumbs-up will keep it with the thumbs-up symbol next to the pin.

Updating Your List

Your selections on the map are reflected in the property list below the map. If you accidentally exclude a property, go to the “Show Excluded” section. Simply uncheck the thumbs-down, and it will return to your list.

Finalizing Your Analysis

After making your final selections, check the CMA (Comparative Market Analysis) summary at the bottom. You have three options for determining value:

  • Average price per square foot
  • Average sold price
  • Override with your own value

Save your work, and return to the lead list. You’ll see the value you determined at the top right-hand corner of the lead.

Conclusion

Running comparable sales, or “comps,” is essential in accurately determining property values, and Propelio streamlines this process efficiently. By following the step-by-step guide—setting criteria, analyzing properties, managing selections, and finalizing your analysis—you can confidently assess property values using Propelio. 

This tool not only simplifies the process but also ensures you make informed decisions based on comprehensive and accurate data. Whether you’re a seasoned real estate professional or a newcomer, Propelio provides the necessary tools to enhance your property valuation process.

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