How to Create a Comparables Report on StreetEasy [Tutorial]

In this homedax.com tutorial, we will show you how to pull comparable listings using the agent tool on StreetEasy.

The purpose of pulling comps as we say in real estate is to help you both as a buyer figure out how much a property's worth and how you should construct an offer and also as a seller to figure out what your property may be worth and how to devise a strategy as it relates to your initial listing price. So what you'll want to do as a first step is to log into StreetEasy using your agent account.

Once you are logged in on the right you'll have a couple of different features you'll have the agent tools as well as the Account buttons to generate the comparable report you want to hover over the agent resource center button and then down here on the left you'll see something that says comparables report. So go ahead and click on comparables report and that it will give you the interface through which you can run the search.

Now the interface is fairly robust and it does help narrow down the types of properties you're going to be looking for and it's worth considering that when you're running comps it's very important that not only are you looking for properties in the same neighborhood you're looking for properties at a similar price point also with a similar layout ie number of bedrooms and also very important to make sure that if you're running comps for a co-op you're comparing only to other coops and if you're running comps for a condo you're only comparing to other condominiums. Co-ops are significantly cheaper than condominiums and so they have completely different market values and they cannot be compared simply put two condos when running a comps report.

Now similarly if you're looking for a house or a multi-family you can also select that in the StreetEasy report. So if we were to say for example that we were looking to purchase a condominium in the Lower East Side and we wanted to spend less than two million dollars we would first of all add the Lower East Side to our location and keep in mind if you are in lower Manhattan you may also want to think about other neighborhoods primarily because the neighborhoods are quite small so if for example somebody is thinking of something in the Lower East Side they may very well consider the southern edge of the East Village they may consider Nolita as a whole possibly even parts of Little Italy or possibly Chinatown.

So this here is an interactive map which allows you to select the particular neighborhoods that might be of interest. So in this case we will look at Nolita as well as the Lower East Side and let's say the person is looking really to buy something pretty much right on the border here and possibly a little bit in this direction.

So we're gonna unselect two bridge which is a subset of the Lower East Side technically it's a different neighborhood looks like the box is not working to uncheck it so we're going to just click apply and then in here we're gonna just redo it and we'll make sure that only the Lower East Side and the Lita are selected.

Interesting well it doesn't look like it's allowing us to do that so you'll just want to keep in mind then if you're looking for listings in Lower East Side you'll want to be mindful of comps in two bridges because it is significantly further south so it is possible that the properties will be much less expensive. So moving forward under type we're gonna want to select condominium and then for price we mentioned 2 million or below and let's assume in this case we're looking for a 1-bedroom.

So we've put the location we've put the type of property specifically a sale transaction if you're doing rentals the comps report will also work you just want to select rentals. We've chosen condos as the type we've put a cap on the price the bedrooms the baths we can just leave as any and then as far as show recorded sales.

What I generally like to do is to put a hundred and eighty days and that's because more often than not you're not gonna find a huge number of sales for the last 90 days unless you're looking in a particular part of the city that has a tremendous amount of inventory.

So if you're in Midtown, for example, the search criteria we put here would generate dozens probably dozens of closed transactions but if you're in the Lower East Side or Chelsea or you know somewhere downtown for that matter there's gonna be far fewer to look at so generally suggest 180 days and then click generate comparables report. So give it a minute to load and then we're gonna look at the results.

If you have any questions about running comps, buying or selling in the city, leave us a comment below the video and if there are any topics you'd like us to talk about shoot us a note leave us a comment. We'd love to hear from you.
.
.
homedax.com | HomeDax Real Estate NYC
#homedax #nycrealestate #realestatebroker