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Market Comps
Jason Breault avatar
Written by Jason Breault
Updated over 7 months ago

Create a Market Comp

  1. Navigate to 'Market Comps' using the side navigation menu

  2. Select the 'Manage' tab from items listed under 'Market Comps' in the side navigation menu

  3. Click the 'New Market Comp' button from the top right area of the page

  4. Each market comp requires a name that is unique among your company's market comps and property that you have access to from your company.

  5. When you have selected a name and property, a map with local competitors will appear. Your company's property will display in green. Each competitor will show as an orange circle on the map.

  6. You can move your mouse to an orange circle to view additional information

  7. If you click the blue address on the property, it will open up additional details such as competitor availability, amenities, and images. You select the property by clicking the heart next to the address, or exist by clicking the 'X' in the corner.

  8. You can click the orange circle to start tracking the property as part of your market comp. When you select a competitor it will show underneath the map as a chip. The maximum number of competitors you can select is 5.

  9. To filter competitors, select the 'Filter' button above the map. This will open the different options available.

  10. When a filter is updated by imposing a minimum, maximum, or required amenity, it will remove any selected competitors that do not meet the updated criteria. It will also change the options available on the competitor map.

  11. After selecting your competitors, you can choose to enable Active Monitoring by clicking the 'Active Monitoring' toggle from 'OFF' to 'ON'

    1. If 'Active Monitoring' is enabled, you will not be able to update competitors or filter unless you first turn 'Active Monitoring' off.

  12. When you have finished setting up your new market comp, press 'Create Market Comp' to save your selections. Your market comp will show up in the 'Manage Market Comps' table.

Edit a Market Comp

  1. Navigate to 'Market Comps' using the side navigation menu

  2. Select the 'Manage' tab from items listed under 'Market Comps' in the side navigation menu

  3. You will see three dots at the end of each table row with your market comps. Move your mouse to the tree dots and click it to see the edit button. Select Edit to open the 'Edit Market Competition' modal

  4. When the 'Edit Market Competition' modal slides out, you will only be able to update your market comp if it does not have Active Monitoring enabled. If you try to update a market comp that has Active Monitoring, you will see a message that explains you cannot update it until the Active Monitoring is disabled.

  5. You can hover your mouse over the Active Monitoring switch and select it to toggle the status. If you choose to remove Active Monitoring from a market comp, there will be a warning message you must agree to or cancel your action. This is because disabling Active Monitoring will erase any data that has been previously saved for your market comp.

  6. If your market comp does not have Active Monitoring enabled or you have chose to disable the Active Monitoring, you will be able to edit the competitor properties or filters.

  7. When your update selections are complete, you can save your changes by pressing the Update Market Comp button at the bottom right corner.

Delete a Market Comp

  1. Navigate to 'Market Comps' using the side navigation menu

  2. Select the 'Manage' tab from items listed under 'Market Comps' in the side navigation menu

  3. You will see three dots at the end of each table row with your market comps. Move your mouse to the tree dots and click it to see the edit button. Select 'Delete' to begin the deletion process.

  4. You will see a warning message that prompts you confirm whether you would like to permanently delete the market comp you selected. If you confirm the deletion, the market comp will be deleted and any active monitoring data associated with the market comp will also be deleted.

  5. If you choose to continue the deletion, you will be redirected back to the manage market comps table. A message should appear to confirm that the deletion was a success.

Daily Snapshots

  1. Navigate to 'Market Comps' using the side navigation menu

  2. Select the 'Daily Snapshot' tab from items listed under 'Market Comps' in the side navigation menu

  3. Click the Market Competition selector to see all of your available market comps.

  4. If your market comp was recently created, your Daily Snapshot data may not be ready. If we are still calculating your Daily Snapshot, you will be notified via a pop-up window that explains your Daily Snapshot is not ready yet.

  5. If your Daily Snapshot is not ready, you will be able to view some demo data to get an idea of how your Daily Snapshot will look. Demo data will be have a grey color to it and a message that states the data is demonstration prurposes

  6. When your daily snapshot is ready, you will see today's data on how your property compares to your selected competitors. This data will update daily.

Active Monitoring

  1. Navigate to 'Market Comps' using the side navigation menu

  2. Select the 'Active Monitoring' tab from items listed under 'Market Comps' in the side navigation menu

  3. Click the Market Competition selector to see all of your available market comps.

  4. You can also select the time granularity. Days is the default and shows up to the most recent 14 days worth of data. Weeks will show up to the most recent 12 weeks. Months will show the most recent 6 months. If your market comp has not been active enough days to generate a chart, you may see a message explaining there is not enough data to generate your chart.

  5. If your market comp was recently created, your Active Monitoring data may not be ready. If we are still calculating your Active Monitoring, you will have an opportunity to explore Active Monitoring with some demo data.

  6. When your Active Monitoring data is ready, you will be able to explore the data that has been collected. Initially your dataset will be smaller, because we have not been monitoring the data for long. Over time your data will grow and grant you insights into how your competitors are performing.

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