Property Shark fee increase and LIMITING of reports

[Dryley]

Property Shark has recently significantly increased their yearly subscription fee to $599.00 per year for their standard appraiser package. This package now has a limit of 175 reports per month. In addition, there is a $29.95 package for an additional 100 reports per month. Previously, there was no limit of reports per month. Customer service has suggested that I use the tools in the comparables section to reduce the number of reports I use, but I don’t typically run reports from the comparables section. I use around 300 reports per month when I am busy. The significant fee increase in addition to the $29.95 per month that I would need to pay, has most likely priced me out of property shark (and probably won't even be enough reports). You can check how many reports you use per month in the "my reports" section of your account. Property Shark is trying to set a new standard by limiting the number of reports that can be used per month. Comps Inc. and Geodata offer unlimited reports per month (which was also the norm for Property Shark until now). I would like to hear as much feedback as possible from anyone anywhere that utilizes property shark with regards to the recent fee hikes and limiting of reports. I would also like to suggest that anyone and everyone that has a problem with their fee increases and/or limiting of reports to complain as much as humanly possible to property shark via email and phone.

 

[Terrel L. Shields]

I guess you will have to explain to me what "property shark" is? A substitute for MLS? Compiles county data?

 

[Dryley]

Property Shark compiles county data for comparables as well as listings and several other features. There is no formal MLS in Manhattan and MLS in Brooklyn is not complete and even non-existent in certain areas so other databases are necessary. I don't think property shark is available in Arkansas.

 

[Terrel L. Shields]

Do you have Realist there?

 

[Dryley]

Realist is not available here. We have Comps inc., Geodata, Property
Shark, Acris and Streeteasy. If people know other reasonably priced databases in the NYC area, please let me know.

 

[BROOKLYNVALUATION]

I would say, if possible, start charging more money per appraisal instead of sweating Prop Shark's new fee structure. Cost of doing business. I pay for Staten Island MLS, Brooklyn MLS and Long Island MLS as well as Geodata. I upped my fees about 6 months ago, explained to my clients that costs are just up everywhere. They didn't blink and said ok ( both lender and non-lender long time clients ).

 

[Dryley]

I would like to get responses from people who have property shark that are about to be subjected to the giant renewal fees. It amounts to about a 100% increase in price over what I paid last year. It is not "the price of doing business". It's price gouging.

 

[Sid Holderly]

Check to see if NAR's RPR has the some of the data you need, it is free, if you belong to the National Association of REALTORS. It includes some private sales found in their county data sweeps, a lot of neighborhood data and may give enough data for links to other free county sources, like GIS of local counties.

It's content is getting better and adds to what your local MLS often provides.

 

[HF Mudd]

I contacted PS about the same issue a couple of weeks ago after a buddy of mine received his renewal notice (he declined to renew and is using Comps Inc.). I'm averaging about 350 reports per month with a high of about 380 reports per month, so the new pricing doesn't work for me. Customer service gave me the same suggestion to keep the number of reports down, which I find to be unwieldy for my workflow.

As I subscribe with the Appraiser's forum NY group discount, I'm not sure if the restrictions will apply to our group subscription. I forwarded the new pricing to the group lead and am waiting to hear back.

 

[HF Mudd]

Update: the group discount will not include a limit going forward.

Contact Eli Weiss if you want to join the group.