Tired of searching for some property data on multiple websites and software? Spending lots of hours or days doing your research yet getting less output and results? Well, you can have all of these with just one platform, Stash v3!
Comparable sales is one of the basic information that any property professionals must know in their property search when looking for great deals. This serves as a basis used in valuations where a recently sold asset is used to determine the value of a similar asset. Comparables, often used in real estate to find the fair value of a home, are a list of recent asset sales that reflect the characteristics of the asset an owner is looking to sell.
It is indeed helpful knowing the recently sold properties nearby, be it a few blocks away or a few suburbs away, where you’re looking for possible great deals and opportunities. That’s why we made sure that you have access to such data inside Stash as this is a tool that will help you in finding the best opportunities.
Significance of acquiring the data for Nearby Sales:
- Can be used as a reference when checking the pricing in the area.
- Serves as a basis for buyers and demonstrates how much they are willing to pay for similar, recently sold properties, making them a very useful resource. Buyers can use the data they gathered to negotiate for a lower price.
- Helps sellers to set a realistic expectation of what their home is worth. It also helps the sellers to be more objective in determining the appropriate listing price for their home by analysing the comparable sales.
- Useful for sellers when negotiating and can be used as reference as to why their property is worth more if buyers make a low offer.
- Helps real estate agents to run a comparative market analysis which is also the same report they are providing to buyers and sellers.
- Gives awareness to sellers to come up with a listing price for their home that’s in line with the sale price of recent transactions.
- Enables the buyers in making decisions on how much to offer for a specific home or property that they are interested in.
You should keep records of sales in the area in which you’re looking, and note down whether they are superior or inferior to your property. Over time, you should be able to understand what the value of different properties in the area are, and justify this reasoning.
When looking for comparable sales, you’ll want to narrow down the field to as close to the property as possible. This could mean next door, sometimes it can mean needing to look a few suburbs away for something similar. A different postcode, suburb name or LGA can have a huge effect on property prices and the way buyers view a property.
We understand that it could be quite confusing if you’re using multiple listing websites in gathering all of this, however, there’s also an advantage in doing so. The more information gathered, the more accurately the nearby sales price will be.
It can be very easy to do a comparable search while sitting right in the comfort of your home but you still have to check and search for other property data that you may need in your property search journey. Checking the nearby sales does not just end there and does not complete the rest of the tasks for your development.
Here in Stash, we understand how crucial this information is and would like you to have it all without checking on other software. We’ve added some links and have some integrations that will make your property search worthwhile. Plus, you may now use your generated nearby sales on multiple feasibility studies, thus, saving you time in generating them compared before. You may now check how many nearby sales you have by checking ‘My Comparables’.
We’re all excited about this and hope you are too. Who knows, this must be the start of something big for you.
So, what are you waiting for? Go ahead and sign up for our 7-day FREE trial at https://v3.stashproperty.com.au/app/ and check out what Stash v3’s new features have to offer.