Scook85 - Question Re: Comps - Posted by tim
Posted by tim on April 10, 2002 at 15:38:04:
Just finished reading WFQC, and plan to read it at least a few more times. A fantastic course. I really appreciate the sincerity, knowledge and real life experiences poured into this course.
Had a question about comps. Since I have no desire to pursue a realtor’s license in the near future, and do not have state or county on-line access to comps in Michigan, I will more than likely need to utilize a realtor to run comps. (side note: in Michigan, a realtor or agent is required to be associated with a broker to access MLS - another disadvantage).
In WFQC, you touched on primarily using a realtor for running MLS listed properties and submitting offers. In addition to asking the realtor to provide listed properties and submit offers, I will also need the realtor to run comps. This is especially true while initially climbing up the learning curve with respect to determining property values.
As you mentioned, while initially meeting with the realtor, I want to be up front with my goals and expectations. Therefore, I should let the realtor know that I will need comps run as well. Is this the correct approach. Any additional incentive to give the realtor to consistently run comps? Also, how often should comps be run for a newby in the wholesaling business - ie: run comps on every home I want to make an offer on? I’d really appreciate some direction. Please feel free to let me know if I’m out in left field on this. Constructive criticism is good, I want to learn.
Again, great course, I’m excited and inspired.