Hi Jerrod,

I also had read that article.  I have played around with it and have found it not to be very accurate. It may work somewhat well in areas that have seen recent high turn-overs (In a relativley consentrated area). I found the acutal info to be inaccurate in the properties I have searched as well as the comps being somewhat low, by 30-50K in my area(quite a big difference.)  It probably will work as a good tool for FSBO's but 75% of them if not more end up listing with a Realtor. I just did a search on a property that I had done a CMA on. My comp(using MLS) came out at about $475,000.00+ while theirs comes out about $375,000.00 or less!

Just like in the abstracting business, you really need to have someone involved that knows the business and knows the areas they are working in. There are so many factors and practices, etc. which affect the final product.

The good news, I think is that maybe the NAR (which by the way in one of the biggest associations in the nation) will start their good old lobbying machine up and fight this as the have with Banks involved in Real Estate.

Like the old saying goes "An Attorney that represents themselves has a fool for a client", I think the same philosophy works in the Real Estate Industry.

Yours,

Robert B.