Rule 2.7 has been updated to include the exception of Call for Offer and Sealed Bid listings. To support this change two new fields (Sealed Bids and Call For Offers) have been added to the listing input.
If your listing is subject to auction, a sealed bid process, or a call for offers indicate so in the appropriate field.
2.7—Specification of Price: The Participant, acting on behalf of a seller or lessor, shall specify the price at which the property is being marketed unless the property is subject to auction, a sealed bid process, or a call for offers.
Hurricane Laura Response
The Needs/Wants section remains open for any individual who is searching for commercial property to post what they are looking for.
Short Term Occupancy Field
A Short Term Occupancy field has been added. This field will allow list agents to indicate if the property is open to a short term lease. Images of the filed's location are attached to this notice
A new Office Type of “Coworking Space” is being added to allow for better searching of those properties.
Donations are being accepted by the Louisiana REALTORS® Relief Fund to aid those impacted by Hurricane Laura. Donations can be made at https://la-realtors-relief-fund.square.site/
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
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…
1. Begin by visiting RPR at narrpr.com/commercial
2. Choose the Go to Search button
3. Now select All Properties
4. Enter an area to begin searching for comparable properties:
5. Select the Property Types you would like to include in your search results:
6. If you are looking for on-market comps or current asking lease rates, consider using the Advanced search to refine by:
7. If you are looking for recently sold comps use the advanced search and plug in the time period you want using the “Within” filter.
8. 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.
9. 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.