New York real estate has changed tremendously since the 1980's and the market is only part of it. Property information may not have been a moue click away in those pre-Internet days, but it still existed. The problem: It wasn't organized.
No one had compiled this data in a methodical way, so the founder of COMPS INC., who was a real estate appraiser, started to think about how to make it easier to access.
When COMPS INC. was founded in 1987, it provided hard copy sales information in binders and tax records in microfiche. Its biggest innovation then wasn't the device. It was the organization and accuracy.
In addition to being the industry pioneer, COMPS INC. has built its reputation on meticulous attention to detail. All data is efficiently reviewed. Mistakes, like mismatched lot numbers, are researched and corrected.
By 1989, COMPS INC. had developed some of the earliest real estate computer software, the first specifically focused on the New York market-the five boroughs of New York City, as well as Nassau, Suffolk, Westchester, Rockland, Orange and Putnam counties. Real estate professionals could easily filter information by zip code and property type. The company continued to refine its offerings as technology advanced, making it an invaluable resource to appraisers, real estate brokers, mortgage companies and banks.
Nationwide real estate information providers have emerged along the way, but they gather data without any real context. We don't consider these sites competitors because the New York market is very different from the rest of the country. We recognized early on that it was important to isolate areas.
The more things change, the more they stay the same. COMPS INC. empowers its users by keeping them well informed every step of the way.