BrokerageIndustry News

Search tools hunt for real estate bargains

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Realty Counselors, a Los Angeles-area real estate brokerage and mortgage company, has launched automated valuation tools that calculate which homes are the best bargains in a given area and which homes can potentially be profitable for investors to purchase and rent out. The "BargainScreen" and investor tools are based on data supplied by multiple listing services in the region, said Armen Gukasyan, broker and president of Realty Counselors Inc., based in Granada Hills, Calif. Gukasyan said the tools offered at the RealtyCounselors.com site allow prospective buyers to pre-screen MLS-listed properties. "We do the initial legwork for the clients. The tool does the analysis," he said, and potentially narrows the list of properties that site users sort through. Users can choose a value for the estimated percentage below market price of a home's value based on its listed sale price and the company's algorithms for its actual value. And search results can be sor...