However, getting this done on the commercial side of real estate has always been a little tricky. Commercial comparables have typically been pieced together by visiting various public record websites and/or paying a vendor to collect data and have it packaged up for you to extrapolate and organize. Thankfully, things have gotten much more streamlined and RPR makes it easier than ever.
A Step-by-Step on Using RPR to Pull Commercial Comps
Perhaps even more impressive and directly connected to commercial comps, is the 55 million off-market properties that are also available, allowing you to look for similar properties to your subject that have recently sold, or are currently listed across the entire nation. Here’s a step-by-step on how it’s done…
- Begin by visiting RPR at narrpr.com/commercial
- Choose the Go to Search button
- Now select All Properties
- Enter an area to begin searching for comparable properties:
- Zip Code
- Select the Property Types you would like to include in your search results:
- Shopping Center
- Special Purpose
- If you are looking for on-market comps or current asking lease rates, consider using the Advanced search to refine by:
- Property status
- Building size
- Lot size
- Year built
- If you are looking for recently sold comps use the advanced search and plug in the time period you want using the “Within” filter.
- You can capture your comps in a list by clicking “Print this page” and create a PDF to email or create a hard copy for your client.
Tip: Print this page literally prints whats on the page. So if you want to print more than 10 and up to 100 properties you can use the Show results dropdown.
- View more details about a specific property by selecting its street address, and dive into the details.
Using RPR to gather commercial comp data is a no-brainer. Not just because it’s a rich source of data and property history information, but also because as a REALTOR®, there’s no additional cost to use it.
Source: “How to Find Commercial Comps Using RPR”