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🔎 Use the Comp Tool and create Comp Reports
🔎 Use the Comp Tool and create Comp Reports

Use the Comp Tool to compare property data within Leads

Dennis avatar
Written by Dennis
Updated over 7 months ago

What is the Comp Tool used for?

A Comp Analysis is an essential tool for Real Estate Investors. 'Running' comps is a term used when trying to find properties with similar characteristics to your subject property based on 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.

In this video, I will guide you through the process of creating a comps report. I will show you how to access the necessary page, search for a property, select comparables, customize the options, and generate the report. By the end of this tutorial, you will have a clear understanding of how to create a comps report.

Chapters

0:00 Introduction

0:14 Open Comps Page

0:28 Add properties to Comps Report

0:35 Download the Comps Report


Comp Tool Step By Step Guide

To begin your comparable search you have two options:


A. Perform an individual property search by entering the address into the search field.

B. Perform a broad search based on County, City, or Zip code search by entering the desired location in the search field.


Click the Search button

Option A will take you directly to the property details page for the lead. Click "Comparables" to the right of "Overview".


Option B will take you to the Leadpipes list view, which will allow you to refine your list further. When you find a specific property you would like to run comps on, CLICK on the specific property address and you will be directed to the Property overview page that will include additional details on the property.

Once within the Property Details CLICK "Comparables" to the right of "Overview".

You will be taken to the Comparables page for the subject property

Use the filters located above the map to adjust your search. You can filter your search by the following fields:


Bed/Bath

Square Footage

Distance - Recommended distance is 1 mile

Ai Scores - Additional purchase required

Lead Types * Expert Tip! - Filter by Cash Buyers to see which properties have sold for Cash in your area.

Property Types

Status - located in the More filter

Year Built - located in the More filter

Lot Size - located in the More filter

* Expert Tip - We recommend starting with a very broad search before applying any filters to populate the most results.


After adjusting your desired filters, be sure to CLICK the SEARCH button to apply the filters. The map view and the comparable list below will update.

The list below will populate by the closest comparable by Distance.

Selecting Comps to be on your comp report.

As you are looking at the list of comps on the right hand side of the screen, you will see a ‘Thumbs UP & Thumbs DOWN’ icon

Clicking Thumbs UP will include that property on the Comp report

Clicking Thumbs DOWN will remove the comp from the comp list.

As you scroll down on the comp list, you will notice the ‘Subject Property’ will remain at the top of the list. Notice the Subject Property does not have a ‘Thumbs UP & Thumbs DOWN’ icon. The Subject Property will also be static at the top of the list, so as you scroll down, you can compare the properties details.

Note: You will be able to scroll to the right to view more details about the comps.


You can also choose the comps to appear on the Comp report by clicking on the option on the map. The map will provide a visual of the distance along with the Sold Price. When you click on the ‘Sold Price’ a window will open with some additional details about the property. Within this window you will see a ‘Box’ to the left of the Address, click on this Box to Thumbs UP the property.

Once you have selected the properties to appear in the Comp Report, click the GENERATE REPORT button at the top right of the screen to print or save a PDF of your report.

Comp reports will be downloaded to your browser and available within a few moments.


They also save within the DOCUMENTS section with the Properly file.


If you have accessed the Comps from a LeadPipes search, creating the Comp Report will also create a Property file.

Note: You will notice columns on the list view for Retail, Rental, and Wholesale. This is referring to our Leadpipes Ai scoring feature, which is only available if you have an AI subscription. Leadpipes Ai will help you to increase the ROI on your marketing spend across the board to target the properties with the highest propensity to sell. To learn more about our AI scoring, click HERE

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