Comps or Comparables is a tool essential for Real Estate Investors. 'Running' comps is a term used when trying to find properties with similar characteristics to your subject property based off of location, square feet, bedrooms, bathrooms, etc to help you determine the value of your subject property. Below we will show you how you can easily generate a Comp Report for your properties.
**Comps can only be found within a Property File you have entered into your account
**You can create multiple Comp Reports for the same subject property
How to Create a Comp Report
1. Once you have added your subject property into your account, on the left hand side within the Property File under the Analyze section click on 'Comps/Evaluation'
2. Next, update any of the filters such as Distance, Sold Within, Beds, Bath, etc and click 'Search'
3. You will now see comps populate on the map located above the filters you just set. The Blue pins are your comps, the Red pin is your subject property
4. Below your filters you will now see a list of the comps sorted by distance
5. If you click on the Address of a comp, a pop up window will appear with the 'street view' of the comp
6. To the left of each comp is a checkbox. If you click the checkbox, it will do 2 things- highlight it green on the map, as shown below and it will be included in the comp report
**To remove a comp from the comp report, you will need to uncheck the box before building the Comp Report
7. Once you have selected a MINIMUM of 3 comps for your subject property, click on the 'Build Free Report' to build your Comp Report
8. Once you build the report a Pop Up Window will appear to download the Comp Report, but the system will also automatically save a copy of the Comp Report in the Documents section of the Property File
**You are able to view, download, edit the name, and email the Comp Report from within the Documents section
9. The Comp Report will include the details of your subject property along with the details of the comps that you selected for the report