Learning Market Value - Posted by Chris (TX)

Posted by Chris (TX) on May 29, 2002 at 10:10:15:

I’d like to find out what other investors do and suggest for learning market value (let’s say you suddenly moved to an area you know little about as far as home values).

First, I’d like to know how you might set up a mutually beneificial relationship with a RE agent (one you did not already know or have dealings with - you are in a new area remember)… so that this agent would provide comps on properties you were interested in making offers on… Keeping in mind it can be tough to get agents to see this as anything but a waste of time since it’s likely that 95-99 percent of your offers are going to be rejected, etc… how do you make the relationship beneficial to the agent so that they are eager to help you?

Secondly, I’d like to know how you would determing market values WITHOUT using an agent, or comps. What other avenues do you use to determine market value? (Newspaper ads and “listed prices through agents ads/ list sheets”… are almost always inflated by 10 percent or more.)