Page 21 - MLS Training Book

Step 6) Examine the CRS data for each property. Take note of the Price/Sq. Foot column.

Pay attention to foreclosures as well as the financing history on the properties you select, which can

significantly impact property value.

DETERMINING VALUE BY PRICE PER SQUARE FOOT

Search for comparable SOLD properties like before, and they will have a SOLD PRICE PER HEATED SQFT.

Adjust your comparables based on square footage. If a comparable is 2000 sq. foot, and your subject is

only 1500 sq. ft, you can calculate the value of your property based on cost per square foot.

For example, let assume you have 3 comparable properties that sold for $150 per square foot, $162 per
square foot, and $148 per square foot. If you average those 3 prices you get $153.33 per square foot. If
your similar subject property is 1500 square feet, then 1500 square feet x $153.33 per square foot =
$230,000.