When Real Estate Comps Software Meets GIS Technology
Buying or selling a property takes a lot of research, and you’ll want to have all of the information available before making a transaction of this magnitude. One method realtors use to make well-informed, profitable decisions is analyzing comparable sales (comps for short). Similar to an appraisal, real estate comps are used to determine what a property is worth, but they do so in different ways. An appraisal is an unbiased evaluation by a licensed professional of a home’s value, while comps determine the value by looking at other properties with similar attributes. While appraisals tend to hold more legal weight, there are many benefits to using comps instead. To start, comparable sales are less expensive than appraisals, but more than that, they often take less time to acquire and evaluate, especially with real estate comps software. In today’s market, time is of the essence.