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Comparable Properties

Explains how DAS can expand the search for comparable properties

Updated over 2 months ago

Comparable sales are a key component of the valuation process in the DAS platform, allowing users to identify and utilize relevant property sales data for appraisals and report creation.
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This guide provides an overview of how comparable sales work, the tools available for filtering and selecting them, and how they can be included in appraisal reports.


What Are Comparable Sales in DAS?

1. Valuer General Sales Data (Australia) & REINZ Sales Data (New Zealand)

  • Australia: Sales data is sourced from Valuer General databases across all states and territories.

  • New Zealand: Sales data is sourced from the REINZ database.

  • Important: These sales must first be approved by a valuer and converted into a Sales Analysis or Valuation Report before they can be used as comparable sales.

2. Sales Created by Valuers

  • Valuers can manually create sales that may not be listed in the Valuer General / REINZ database.

  • These manually created sales must also be converted into a Sales Analysis or Valuation Report before they can be used as comparables.
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Key Features for Identifying Comparable Sales

1. Filtering Comparable Sales

The DAS platform offers advanced filtering options to help users identify the most relevant comparable sales.
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๐Ÿ”น Ensure Layers Are Enabled Before Filtering

Before applying filters, ensure the relevant layers are enabled, as filtering sales without displaying them will yield no results.
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2. Steps to Enable Layers

  1. Click the Layer Icon (below the search button in the top-right corner of the DAS interface).

  2. Ensure the following checkboxes are selected:

    • Sales Layer (Color-Coded Highlighting by Sale Year)

    • Unvetted Sales

    • Approved Sales

    • For Sale Properties

    • Sales Analysis Pins

    • Appraisal Pins


3. Editing Filtering Options:

Once layers are enabled, access the Filter button (located below the Layers Icon) and refine your pins and highlighted sales with the following criteria:

  • Years Sold

  • Area (ha)

  • Price Sold

  • Price per Hectare ($/ha)

๐Ÿ’ก Tip: You can hide Sales, Sales Pins, and Appraisal Pins by clicking the eye icon next to each layer. Additionally, you can reset previously entered filter criteria by clicking the Clear button.

4. Sales Pins & Tooltips

When navigating the map, hovering over Sales Pins, Analysis Pins, or Appraisal Pins will display a tooltip containing key details, including:

  • Primary Land Use

  • Last Sale Date & Price

  • Sale Area (ha)

  • Price per Hectare ($/ha) (only available on Analysis or Appraisal sales)


How to Add Comparable Sales to Your Report

Once youโ€™ve identified relevant Sales Analysis or Valuations, you can add them as comparable sales to your report. Before proceeding, ensure you are within an Appraisal Report and have the Comparable Sales section open.

1. Manually Add Sales

  • Step 1: Click on a property on the map to view its sales.

  • Step 2: Approve the sale and convert it into a Sales Analysis.

  • Step 3: Once the Sales Analysis has been created, open your Appraisal Report and navigate to the Comparable Sales section.

  • Step 4: Click "Add Comparable" to include the sale in your report.

2. Add an Analysis Directly

  • Step: Hold the Alt key and click an analysis or appraisal pin on the map whilst you have the Comparable sales section open in your appraisal report

  • Action: Add the analysis pin as a comparable sale.
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Understanding Comparable Sales in the Report

Once added as a Comparable Sale, the map pin will display a number below it, indicating its order in the Comparable Sales section of the report. This numbering helps users easily match the pin on the map to its corresponding entry in the report.
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In the Comparable Sales section (as shown in the example image), youโ€™ll find detailed information about the added sale, including:

  • Address and location details.

  • Analysis summary with area, $/ha, value breakdowns, and sale price.

Additionally, you can provide further context by using the following features:

  1. Property Comparison Dropdown: Select whether the comparable property is superior, inferior, or comparable to the subject property.

  2. Comment Box: Add any additional comments or observations in the open text box.

You can include as many comparable sales as necessary to create a comprehensive analysis. The tool ensures flexibility and detailed reporting for accurate property appraisals.


Important Notes

  • Only Sales Analysis and Valuations Can Be Used as Comparables:

    • Approved sales cannot be used directly as comparables. They must first be converted into a Sales Analysis or Valuation Report.

  • Valuer Flexibility:

    • Valuers can create their own custom sales records that can later be analyzed and used as comparables.


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