Quick Comps | Tips & Tricks With RJ BATES III!

Quick Comps for Live Seller Calls

RJ Bates III explains how wholesalers can use a quick comp during a seller call to determine whether the asking price is broadly workable—without trying to calculate an exact after-repair value (ARV) on the spot.

Process and playbook

1. Start with the seller’s asking price. The goal is to see whether it is broadly in range, not to complete a full underwriting analysis.
2. Run a fast comp search using a platform such as Privy or PropStream:
   • Start with a ¼-mile radius and single-family homes.
   • Compare square footage, lot size, and year built.
   • If there are too few comps or a notable mismatch, expand to a ½-mile radius.
3. Use the results to guide the call. If the data suggests the asking price could be workable, stop refining the exact ARV and focus on the seller’s motivation and willingness to negotiate.
4. Make an offer based on the broader opportunity. Bates recommends being conservative with ARV, aggressive with repair estimates, and allowing for a larger assignment fee—$20,000 rather than $5,000–$10,000—to build in a buffer.

Example: Spring Creek, Nevada

The subject property was 147 Birchwood Drive, with an asking price of $200,000. An initial ¼-mile comp search showed comparable properties at approximately $350,000 and $418,000. The presenter noted that their year built differed from the subject’s 1974 construction.

Expanding the search to ½ mile surfaced additional sales around $370,000–$375,000. Bates described the area broadly as a $300,000–$400,000 neighborhood, rather than claiming a precise ARV.

The property was reportedly contracted at $170,000 and later assigned or disposed of at $180,000, producing a $10,000 assignment fee.

Sales tactic: “Kill shot”

Bates describes a closing question intended to get the seller’s best price that day: offer to cover closing costs and avoid realtor commissions, then ask what price the seller could accept if they reached an agreement that day.

He says this approach can produce a 10%–20% reduction from the initial asking price. On a $200,000 asking price, that would amount to $20,000–$40,000. In the example, the property was contracted at $170,000.

Key takeaway

Quick comps are a screening and conversation tool, not a substitute for thorough underwriting. Use them during a live call to see whether the seller’s price is close enough to pursue, then prioritize motivation and negotiation. Bates also cautions that comping errors are normal, even for experienced investors.

Presenter/source: RJ Bates III, discussing Titanium Investments’ wholesaling process.