Inaccurate Comps being sent by Agent

[Jake Miller]

So I have an Agent I've been working with to run comps for me, interesting thing is her comps frequently put the property 20-30k above my ARV's everytime, just like wholesalers I see out there who are trying to misslead people.

For example she recently sent me comps of a property that had an average ARV around 140k, the problem is every property on her list had nearly double the square footage, so these aren't even accurate comps at all.

I use a program that allows me to search the MLS and runs comps for me and I feel like I'm pretty thorough in keeping square footage within a couple hundred feet, bedrooms and baths nearly identical and factoring in certain amenities like pools,garages ect ect.

Do you feel like this Agent simply doesn't know what she's doing?

[Mike Cumbie]

Hi @Jake Miller,

I can't speak for that agent but I adjust for all sorts of items. I also live in a more rural area and we usually have to adjust because there are not usually 3 Ranches within a couple hundred sq feet within about 10 years and 2 miles that have all sold in the last 220 days

If my comp properties happen to be darn near identical it's just using them, if they are off (sq footage, baths, lot size, garage spaces, age) I adjust for that item. One of the few times I use price per sq foot is to get the difference between a comp and my subject, then adjust the difference. So I guess comp and adjusted comp can be drastically different.