People also ask
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.