When should I pull comps?

[Michael Grant]

Sorry if this is a stupid question to ask but when is it a good time to pull comps? For instance, As of now I have a list of 20 leads written down on paper. For my marketing strategy I will be sending out direct mail to all 20 possible deals. However, should I run comps for all 20 leads or just run comps after I get a response?

[Geordy Rostad]

@Michael Grant

You should pull the comps before you commit to a solid number with the property owner. If you are working the same neighborhoods long enough, eventually you'll know the comps off the top of your head and be able to know your numbers right away.

For now, you should pull comps after you get an appointment with the owner unless you just want the practice. Honestly, the practice would probably be good for you anyhow. The more you do this stuff, the better you'll be at it and the more confidence you'll have when you show up to meet the owner face to face.

Don't get fooled by pretty pictures when you run your comps. Always look closer for the stained paint, chipped sinks, and other signs of neglect that brought the price down from what it could be.