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Don’t Become the Prey in Today’s Predatory Sellers’ Market
SOFTWARE TOOLS ALLOW LENDERS TO USE INDEPENDENT COMP DATA TO ENSURE THE BEST DEALS.
by Rob Fuller
n today’s red-hot real estate market, sellers can be almost
data and plenty of it, lenders can stack the odds in their favor. You can use real estate agents to pull “comps” or comparable sales to help you structure your offers. How- ever, waiting for an agent in today’s gone-in-seconds market can cause you to miss the best deals. Worse yet, you can face a major conflict of interest, as your agent gets paid only if you buy. So, while you need a full spectrum of data from best-case, average, and worst-case scenario
deals, you may only see the most optimistic data. You need accurate, full-spectrum data—and you need it fast. Software tools can help. WHATTO LOOK FOR To stay in charge and avoid dan- gerous risks, consider using soft- ware that helps you obtain the most accurate, up-to-date comps, allow- ing you to make timely decisions
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predatory. Bidding wars, minimal due diligence times, and larger deposits make it tough for lenders to feel com- fortable with their deals. In this type of environment, it is more important than ever to protect yourself. Lenders have well-established ways of limiting their risk to ensure they remain profitable. The apprais - als lenders lean on use data from comparable properties. With good
80 | think realty magazine :: march – april 2022
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