I often am asked about why one home stands out from another. After all, if a house is built at the same year in the same neighborhood with the same floor plan, surely it should be the same value. Ah-ha, that is where the Comparables or data from the Realtor Property Resource account, which is provided by the National Association of Realtors, only active MLS agents have access.
What this allows is access to all of your listings, data about your sales and information in a neighborhood about schools and values. There is data on over 147 million parcels of property around the country. There is also access to foreclosure, pre-foreclosure and the history of data in the system. Most of the time a Realtor will meet with a buyer and discuss this information with them, to better prepare them for buying in the neighborhood.
On the other side, the seller will receive a handy report on the values of the neighborhood. The valuations as compared to other homes in your market, with many of the same features of a CMA, but all the data in a nice neat format that can be presented to the client. The current CMA system is bulky and it creates a large report that is hard to follow, especially if there are many comparables on the page. The best thing to use is this new RPR system if your MLS has access to it!
Liz
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