The Comparables Generator estimates the market value of a property based on nearby comparables.
Estimate the market value of a property based on nearby comparables. Select your chosen comparables within a 500 meters to 10 kilometers radius around the property. Our database even includes buildings for sale by their owners (FSBO).
Comparables Generator Features
- Select a radius of 500 meters to 10 kilometers around the property;
- Select a sales period, from 1 to 24 months;
- Keep only the comparables that you find relevant in your report;
- For a more precise estimate of a property’s market value, order the EVIA Report.
How to access the Comparables Generator?
1. Go in the Property profile. In the menu located a the top, select Comparables Generator.
Create Your Comparables Report
1. Comparables criteria are set automatically according to your selected property; however, you can modify them by clicking on Update Criterias.
- Building category (optional means all categories);
- Type (depending on the building category);
- Sales period, from 1 to 24 months;
- Radius of 500 meters to 10 miles around the property.
2.The subject to evaluate was defined previously and can not be changed. The general information is presented (type, number of units and floors, year of construction, lot dimension and land area,municipal assessments, amount and date of the last sale).
3. Comparables found by the generator are indicated with the basic information and a photo of the property (if available). Use the scroll bar to go down the list.
4. The number written beside the property refers to its location on the map. The red star locates the evaluated property.
5. You can click + or - to zoom in or out of the map.
6. Move around the map by using the hand.
7. Click on the icon located at the top right of the map to view in satellite mode or to return to street mode.
8.You can remove from the list the properties that you think are not a good comparable because the sale price is too low or because some specifications of the property are different. Uncheck these properties and click Update Map. These properties won’t appear in the printed report.
Tip : We suggest that you keep a minimum of 4 comparables if you want your report to be significant.
9. The PVAR acronym refers to the ratio of the selling price versus the assessment roll. Thus, when it is above 100%, the selling price is above the assessment. For example, a $300,000 sale price on a property valued at $200,000 would give a 150% PVAR (300/200).
10. Once all comparables are selected, click on Update Map.
11. The statistics of comparables on the map will adjust according to the properties you remove from the list. Thus, the minimum and maximum price represent the lowest and higher amounts of your selected properties. The average price displayed is the one of your selected properties. Finally, you can see the average assessment of your selected comparables.
12. To print or save the report in PDF, click on Create Report.
Understand Comparables PDF Report
Your comparables report is generated in a few seconds. A copy will also be saved in your documents. It contains information previously seen in addition to other information about each comparable:
- The distance in kilometers to the evaluated subject;
- The price per door (relevant for multiple dwellings units);
- Profile (number of dwellings and floors, year of construction, lot dimension, land area, municipal assessment, agricultural area);
- Information about the sale (amount, date, number, etc.).