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How To Run Comps On PropStream Mobile

PropStream’s user-friendly comping tools can be found in the desktop version as well as the app. From the property details, just select “Comps” and you will be able to calculate the after repair value of a property. You can also view neighboring properties to gain local knowledge or view cash buyers around each property.

Video Transcript: PropStream Mobile Comps

To run comps on a subject property using PropStream mobile, click on the comps tab below the photo. This section allows you to analyze nearby properties to help calculate a fair valuation or after-repair value (ARV) of the subject property using public records and MLS Listings. You can also view neighboring records to gain local knowledge or view the cash buyers around the subject property.

You can choose to run comps with Public Record data, MLS data, or a combination of both. Public Record sales provide access to all transactions, even ones that were never listed on the MLS. MLS data provides access to only what has been listed with an agent on the MLS. You can also use both datasets to combine the accuracy of public record data with the recency of MLS data. The MLS sold price is an estimate that is calculated within 99% accuracy of the final sale price. 

There is a summary informing you of the number of comps selected, the average sale price of the selected records, and the average price per square foot. Below the summary, you will be able to view the comp results. This area will allow you to select all or deselect the comps that have been isolated after applying your filters. If you chose to use both public record and MLS datasets, you will see results highlighted in green and blue. The green is for public record while the blue is MLS and you may notice a comp listed twice. Selecting the second option will deselect the first. 

The comp filters are found by clicking on this icon. By default, PropStream uses predefined criteria to automatically run generalized comps. These default criteria are: the property must have sold within the last year, be within half a mile of the subject property, and have a similar square footage of 20% more or less than the subject property. This is highly customizable and should be adjusted to fit each subject property’s characteristics, location, and situation. Add and adjust search filters to create the most accurate comps possible, just be sure to select "Apply" down below.

The three horizontal bars below the comps box will let you view the report or save the comps. Selecting the view report button will generate a PDF document reflecting the comps that have been selected. At the bottom of the report, you can select "Save," which stores the report into the “Docs” section, but also locks in the filters that were applied. The last option is "Share," which will let you share notes, the comps report, and any other available documents with a team member or external contact.

To the right of the filter icon is the gear icon. This feature will allow you to customize and save the layout of how the results are presented. More than one layout can be saved and any one of them can be made the default layout when viewing the comps of any property. Below, you will be able to select what headers you want, change the size of the columns, and by tapping then holding down a column header, you can rearrange the column position. Be sure to select "Apply" or "Apply and Save" to lock in any changes you have made.

We understand that the results may be a bit tight in terms of space and viewing details, so feel free to tap on the black bar at the top to collapse the map and space out your comp results a bit more. You may also turn your smart device horizontally to see more details.