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Updated about 13 years ago,

User Stats

726
Posts
284
Votes
Shane Woods
  • Real Estate Agent
  • Weatherford, TX
284
Votes |
726
Posts

Small Town Comps? Texas and nationwide - Please help (several thoughts/questions)

Shane Woods
  • Real Estate Agent
  • Weatherford, TX
Posted

Joshua, if this is in the wrong area I apologize. Please feel free to move it.

Firstly, I absolutely plan on acquiring my real estate license to have full MLS access (if that's what I really need to do)...but until then...

I have posted a few times on here about finding comps other ways than through an agent. I see many folks on here who are buying using yellow letters, etc...who have "MLS access" to determine their as-is FMV and ARV comps. But not many that I have found really explained how they get/got it. One thought I've heard on here is "hire" an agent to pull comps and data for you. on a per pull, hourly, or whatever fee structure. Then in the same thread, another poster says in their state that just paying an agent for that work is illegal. Can I do this in Texas?

I also understand (maybe incorrectly) that agents are not allowed to just "give out" the information or access either, but many do to trusted investors they may have done deals with?

All the agents in my area that I've talked to so far, all want POF (which I'm still working on) to even pull one comp, much less a CMA, because they don't think I'm serious. It has come to my attention that there are many investor "tire-kickers" bugging the agents in town so they screen pretty heavily. Until I have my POF, this is a serious road block...But I understand their reluctance...why do free work???

So I tried Investway, and I just started playing with Redfin. Both are GREAT sources of RE and MLS info in the DFW area. But both have problems very specific to my area of focus...south/west of the DFW area. Largest town is 25000. Lots of rural property (house on an acre,etc).

According to Redfin, Dallas MLS does not allow them to post the actual sold price, only the last list price. This is helpful in some situations, but not all...

And on Investway, I am not able to pull "all solds" around a certain property without dinking with qualifiers for hours, hoping to get the right combination of filters that will ALLOW a sold or two to show up on the report. The wider the net you cast in your search on Investway, the LESS sold comps they send you. For just a basic radius search around a property, even at 1/4 mile, you see no solds. Only for sale and expired/cancelled. If you add in some qualifiers...it will start showing the solds. They mention the "limitation" in their terms of use, but I didn't expect it to be so bad. Not sure why their system works that way but I digress.

Now then...enough complaining...the questions:

How can I get real, true "MLS access" with all the data, without a POF to give to an agent?

Or...how can I figure accurate ARV comps without an agent, especially on the rural (house on .5-5 acres) properties that don't sell often or quickly?

I know it's alot to read. Thank you in advance for all your help.

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