Steps in the Sales Comparison Approach

Steps in the Sales Comparison Approach
 1. Research the market to obtain information pertaining to sales, listings, pending sales that are similar to the subject property.
 2. Investigate the market data to determine whether they are factually correct and accurate.
 3. Determine relevant units of comparison (e.g., sales price per square foot), and develop a compararive analysis for each.
 4. Compare the subject and comparable sales according to the elements of comparison and adjust as appropriate. 5. Reconcile the multiple value indications that result from the adjustment of the comparable sales into a single value indication.