what are comps in real estate

Best answer

Comparable sales

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  • What are comps?

  • What Are Comps? Understanding a Key Real Estate Tool What Are Comps? Understanding a Key Real Estate Tool Whether you’re buying or selling a home, comparing similar homes can yield a wealth of helpful information. omps,?or comparable sales, is a term anyone on either side of a real estate transaction should know well.

  • What are comps in real estate investing?

  • Real estate comps (or comparables) is a term that refers to properties that are similar to the one a real estate investor is looking into. These similarities are considered in the size, location, condition of the property as well as other crucial features.

  • How do comps work when selling a house?

  • Sellers, especially those selling for sale by owner (FSBO), use comps to determine the right listing price for their home. Even if you檙e selling your home with the help of a real estate agent, you檒l want to be familiar with comps so you can make sure you檙e comfortable with the listing price your agent recommends.

  • Do real estate agents look at Comps all day?

  • Real estate agents look at comps all day long as a way to keep on top of their local market. If you are a buyer or seller, it helpful to have a strategy to analyze comps, because all comps aren created equal. If you are trying to price a home or figure out its value, you need to look nearby.

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