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Land Pricing Characteristics

How It Works

In our advanced search section, we give you the option to modify how the comps actually get modeled for county and city pricing! Use these inputs if you'd like to tailor your pricing based on specific market conditions or known comp disparities in a region.

There are currently two inputs to modify the pricing, Comp Weighting and Comp Distribution.

Comp Weighting Input

The Comp Weighting input will allow you to adjust how we weight our modeling using for sale and sold comps. By default, we will set the custom weight to 50/50, meaning that for sale comps and sold comps will be equal*. By using the slider bar, you can adjust the relative applied weight to both the for sale and sold comps. Additionally, you have the option to click For Sale Comps Only or Sold Comps Only. When clicked, this will create a model with only the selected comp type**.

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*Please note, our internal modeling will always weight sold comps higher, so this input is for additional weighting on top of how we've modeled it. 

**Please note, this can be unpredictable, especially in areas with limited comps. Please see the research page for comp counts in your area.

Comp Excluded Sources Checkbox

The Exclude Sources from Pricing input will allow you to tailor your pricing by excluding any comps in our comp database that are from the sources you select. We will apply the same Pricing Strategy with all remaining comps.

Comp Age Input

The Comp Age Input allows you to filter down the comps used in our pricing models based on their age. For sold comps, this input represents the number of days since the property was sold. For for sale comps, this input represents the number of days since the property was listed. Because our comp database is updated every 6-8 weeks, this input is in days from our last comp update. Below is an example.

Current Date: December 30th, 2023

Comp Last Updated Date: December 10th, 2023

Comp Age Input: 180

We will only use sold comps that were sold on or after June 13th, 2023

We will only use for sale comps that were listed on or after June 13th, 2023

Note: Land is an imperfect dataset, and not all properties have information on list and/or sold date. Our database has roughly 45% coverage of this data. Using this filter may cause more properties to be reverted back to county pricing. See Geo Pricing and Split Pricing for more info.

Comp Distribution Input

The Comp Distribution input will allow you to set where the min and max boundaries are for outlier identification. We do this by using a statistical measure called IQR, or interquartile range. Typically, the IQR bounds are set to 25% on the low side and 75% on the high side, meaning that comps with a price/acre that fall outside of the middle 50% of the distribution will be considered an "outlier" and will not be included in the model. With this filter, we give you the option to set where those min and max boundaries are, and adjust them appropriately!

Watch the Video

Read More on Calculating IQR

Please contact support if you have any questions or concerns.

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