YOU SHOW ME YOUR COMPS & I'LL SHOW YOU MINE!

YOU SHOW ME YOUR COMPS & I'LL SHOW YOU MINE!

Data

Here in The Woodlands and in the entire Houston area, we are seeing the market absolutely go nuts!  Multiple offer situations, homes selling before the hit the MLS and prices on the rise.  As agents scurry around getting offers submitted, the comparable market analysis is still so important.

The other day I received an offer on a listing and was shocked to see the low price that these clients were starting with.  Knowing this to be a very competitive market, I asked the buyer's agent to share the comps that were used in coming up with this offer.  The agent was hesitant at first but shared with her that we all have the same access to the same data so allowing me to see what comps they used would be mighty helpful.

What I discovered did not surprise me at all.  The comps that they used were the lowest ones that were close to a year old.  The agent explained that because they were representing the buyer that they needed to use the lowest comps!  Now just a minute! 

We cannot arbitrarily leave out the higher comps.  They are part of the market.  Furthermore, you must, must, must use comps within the last 6 months!  Our market has changed dramatically so using old numbers is totally useless.

When I sent over the comps that we used to price the home, the agent was silent.  I am having a difficult time understanding the logic used here.  We must all use the data we all have access to and present the numbers fairly.  We cannot simply choose the comps that will try and make an offer look valid.

Sharing comps is a good thing.  The data is not top secret and perhaps by sharing, we can all get to a win-win situation which is a closed transaction!  So, show me your comps!  I will share too!

 

     Magnolia Realty Granbury    

"Have you fully lived today?"

   Paula L. McDonald ~ REALTOR®

       Managing Broker ~ Granbury, Texas 

 936-203-0279 Direct

Selling Hood County and surrounding areas!

PaulaMcDonald@MagnoliaRealty.com 

      CNE

Houzz      

 John Maxwell

Farm & Ranch

 


          ABR                 Institute for Luxury Marketing                Institute for Luxury Home Marketing

 

 

Copyright 2017 Paula McDonald

Comment balloon 16 commentsPaula McDonald • February 27 2013 05:19PM
YOU SHOW ME YOUR COMPS & I'LL SHOW YOU MINE!
share
YOU SHOW ME YOUR COMPS & I'LL SHOW YOU MINE! Here in The Woodlands and in the entire Houston area, we are seeing the market absolutely go nuts! Multiple offer situations, homes selling before the hit the MLS and prices on the rise… more
THE WOODLANDS MARATHON ~ MARCH 2, 2013
share
THE WOODLANDS MARATHON ~ MARCH 2, 2013 The 2nd Annual Woodlands Marathon is this Saturday, March 2, 2013. The Marathon, Half Marathon, 5 K and Family 2K will all begin early Saturday morning at 7 a. m. If you are not participating,… more
TRANSACTIONAL RATHER THAN RELATIONAL = MISSING THE POINT!
share
TRANSACTIONAL RATHER THAN RELATIONAL = MISSING THE POINT! I had a very wise mentor early on in my real estate career. I was advised that if I ever allowed my business to revolve and focus on the transactional side of the business rather… more
WHAT DOES 3 YEARS OF BLOGGING LOOK LIKE?
share
WHAT DOES 3 YEARS OF BLOGGING LOOK LIKE I just realized that on February 12, it marked 3 years of blogging on ActiveRain. Wow, where did the time go? I had to go back and look at some of my statistics just to see what has gone on… more
PROM TIME IN THE WOODLANDS ~ HAIR, MAKEUP & DRESSES!
share
PROM TIME IN THE WOODLANDS ~ HAIR, MAKEUP & DRESSES! Spring is just around the corner and it is Prom time here in The Woodlands Young ladies are beginning to plan their quest for that perfect dress, getting their hair and makeup… more
SUNDAY BLESSINGS ~ DAY DREAMING!
share
SUNDAY BLESSINGS ~ DAY DREAMING! Today my sweet little grandson was caught in this photo simply sitting there day dreaming! At only 20 months, you just have to wonder what his wee little mind was thinking. How peaceful he looked just… more
A WEEKEND IN THE WOODLANDS ~ TONS TO DO!
share
A WEEKEND IN THE WOODLANDS ~ TONS TO DO! Thinking of coming to The Woodlands for a weekend and want to know what to do? There is plenty to keep you busy, many great restaurants and of course top quality hotels The weather is… more
WHY A BUYER'S REPRESENTATION IS SO IMPORTANT ~ A TRUE STORY!
share
WHY A BUYER'S REPRESENTATION IS SO IMPORTANT ~ A TRUE STORY! This is a very true story that just occurred last night here in The Woodlands As the other agents and I were discussing this event, I mentioned that had a Buyer's… more
OPEN BLOG ~ INSERT COMMENT!
share
OPEN BLOG ~ INSERT FOOT COMMENT! The other day, I wrote a blog regarding the frustration experienced when trying to show a home. The post was met with one really nasty comment and as we all know, those can happen occasionally. While… more
HOME FOR SALE IN SPRING, TEXAS ~ 4 BEDROOMS + GAMEROOM!
share
HOME FOR SALE IN SPRING, TEXAS ~ 4 BEDROOMS + GAMEROOM! If you are looking for a great 4 bedroom home in Spring, Texas, take a peek at this little beauty! 21523 Gable Meadows Drive is a fantastic home located very near the new Exxon… more