How to estimate property values using PropertyShark’s real estate comparables tool
Video Transcript with Audio Description
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With over 20 years of experience, PropertyShark is the go-to real estate data source for some
[The PropertyShark interface loads on screen.]
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of the most influential real estate companies and professionals, providing the up-to-date
[City skyline transitions to professionals working at computers.]
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property information and real estate tools they need for successful decision-making.
[A dashboard with property data panels is displayed.]
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That includes easily determining accurate property values through highly customizable
[Property valuation tools appear on screen.]
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real estate comparables that are based on actual sales data from disclosure
[A map displays nearby comparable properties.]
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counties, rather than listing prices. There are two main ways to run comps on
[Sales data fields are highlighted.]
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PropertyShark. The first is to search by address. Simply type in the full address in the search
[A cursor types an address into the search bar.]
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bar and open the property report. Once the property report opens,
[A property report page loads.]
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just click “Find comps”, which will take you to the comps
[The “Find comps” button is selected.]
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tool, with comparable properties already loaded, filtered by the default criteria
[Comparable properties populate on a map and list.]
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and your target property highlighted at the top of the list.
[The subject property is highlighted.]
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Now, you only need to finetune the dozens of filters available to you to get the most accurate
[Filter panels expand on screen.]
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results, including location filters like radius, sale date,
[Radius and sale date filters are adjusted.]
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property and lot size, plus number of stories, building
[Property size and building details fields appear.]
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width and lot depth. Other criteria available as search parameters are the size of the property or unit,
including square
[Additional size parameters are shown.]
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footage and number of bedrooms and bathrooms. Alternatively, you can also adjust any necessary
[Bedroom and bathroom filters are selected.]
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sales details such as price ranges or length of ownership.
[Price range sliders move.]
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You can also narrow your results by transaction type, making sure
[Transaction type options are displayed.]
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that related or same party transfers are excluded, along with fractional sales.
[Exclusion checkboxes are selected.]
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If you’re looking to make an all-cash offer, you can narrow your results accordingly and
[All-cash transaction filter is enabled.]
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see what cash buyers in the area paid. You can also focus exclusively on foreclosures
[Foreclosure filter is selected.]
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or cast your net wide with all transaction types. If needed, you can also focus on a specific zoning
[Zoning filters appear.]
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type, tax class, year built and other criteria. The second main approach to running comps on
[Additional criteria fields are displayed.]
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PropertyShark is to directly open the comparables tool from the menu at the top of the page.
[The top navigation menu opens.]
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Enter the address of your target property and narrow down your search criteria to
[An address is entered into the comparables tool.]
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the finest details, including the number of units in a building, with a wide range of
[Unit count filters are adjusted.]
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filters available to you. You can even draw your own search radius directly on a map. When you’re
[A custom radius is drawn on the map.]
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satisfied by your search parameters, hit the search button to review and finetune your results in the
Valuation Dashboard.
[The Valuation Dashboard opens.]
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If your comparables are not the exact match you need, you can always add,
[Additional properties are added to the list.]
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eliminate or modify filters until you get the results you’re looking for.
[Filters are adjusted in real time.]
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If you manually eliminate properties you consider a poor match, valuation results like median sale price,
average size and median price per square foot will update in real time.
[Pricing metrics update dynamically.]
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For more comprehensive overviews and specific building insights,
[A building details view opens.]
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simply click a comparable property’s address and review all details in its dedicated property report, which
features 180+ data points. That can include owner details and
[A detailed property report scrolls.]
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contact information. Open the Contacts tab and see the Real Owners section for owner names,
[The Contacts tab is selected.]
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contact information and their role, if the property is held by an LLC.
[Owner roles and LLC indicators are shown.]
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For individual owners, open the Contacts tab and click the Show Phone Numbers button to see
[The Show Phone Numbers button is selected.]
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contact information in the People Search pop-up.
[A contact details pop-up appears.]
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Returning to your comparables list, you can set upper price caps to eliminate any extreme outliers that may
skew your results.
[Price cap controls are adjusted.]
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Once you’ve finished finetuning your comparable properties list, you have at-a-glance pricing insights into
your subject property. Now, you can go one step further and
[Pricing summary metrics are displayed.]
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save this search for easy future reference or export your list in a number of formats.
[Save and Export options appear.]
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If you don’t need all datapoints in your list or want a more streamlined look,
[Column management options open.]
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Open the column manager to choose which property details you would like to keep
[Columns are selected and removed.]
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or eliminate. These may include additional information such as the number of elevators,
[Additional property attributes are shown.]
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the presence of doorman or pet-friendliness. Once you’ve trimmed the list to only the datapoints you need,
save or export your comparables.
[The list updates to a simplified view.]
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To further ease your research process, you have at-a-glance ownership insights
[Ownership summary indicators appear.]
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displayed for all comparables in your list, including the identity of the seller or buyer,
[Seller and buyer fields are shown.]
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and whether the sale was arm’s length or another type of transaction.
[Transaction type labels appear.]
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You can even get a quick idea of what comparable properties look like and view
[Thumbnail property photos appear.]
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property photos without leaving your valuation dashboard. Quick and easy.
[Property photos expand within the dashboard.]
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Now that you have successfully run your comps and established a pricing baseline and strategy,
[A completed comparables summary is shown.]
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you can confidently price your properties. Whether you’re selling or buying, you know what the right offer is
for your home or investment property. Thank you for choosing PropertyShark!
[The PropertyShark logo appears on screen.]
