A real estate virtual assistant handles administrative tasks such as online marketing, paperwork, phone calls, data entry, market research, website maintenance, management and even pulling comps. They are specially trained to work with real estate professionals. A real estate VA works remotely for you from the comfort of their own homes or offices.
Finding Comp is an abbreviation that stands for comparable sale. In real estate, a comp is a recently sold home with similar features, size, condition, and location to your own. You can use comps to price your home accurately. They have a range of “fair market value” based on your home’s unique features and characteristics.
You have two options for finding comps. Hire a virtual assistant to guide you through the research and pricing process or find comps on your own. Finding comps on MLS (Multiple Listing Service) is a valuable skill for anyone. This is if you wish to conduct an accurate, current comparative market analysis.
But due to MLS access restrictions, some real estate professionals are unable to run comps independently. Real estate investors might ask their agents to pull comps on their behalf in exchange for referrals to clients and listings.
Local MLS listings usually provide the most accurate information on comparable home sales. To find appropriate comps for your property, your real estate agent must be well-versed in navigating the MLS. Their knowledge of your area allows them to interpret comps more closely to home value appreciation, area trends, and price per square foot.
Another option for investors who understand the value of comps and would rather do the work themselves is to obtain their real estate license. In both cases, it takes time and effort to pull comps successfully.
The COMPS, or Comparative Market Analysis (CMA), is a necessary process that must be accomplished on every deal that you plan to make an offer. Pulling comps is crucial since it can affect the property’s price you wish to sell or buy. In most cases, the process of pulling comps can take a fair amount of time. If done correctly to ensure the sold properties are an accurate comparison to the property you are evaluating.
These are some real estate services you can pay for, but a VA can provide them at no additional cost! If you’re a real estate investor, you’re on the lookout for good deals. Skip tracing will help you reach your prospects in a way that your competitors can’t.
It may be necessary for you to train your Virtual Assistant to follow your processes and systems. But with adequate training, this is an easy task to delegate to your Virtual Assistant (VA). Using a virtual assistant can ease the burden of running comps for you and allows you to focus on other critical elements of your business.